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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 110442
Experience:  Attorney experienced in commercial litigation.
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After an accident, where I couldn`t pay for repairs, The car

Customer Question

after an accident, where I couldn`t pay for repairs, The car was taken to a storage lot. The finance company was notified. My car has disappeared. What is my exposure?
Submitted: 1 month ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 1 month ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
You remain liable to your finance company for the balance of the loan. You also need to report the car stolen, since the finance company and storage company cannot find the car. If you had any insurance, which you were supposed to have, once you report the car stolen you can report it to the insurance company and inform them the storage company and finance company cannot find the car or tell you what happened to it and as such you have reported it as stolen. The police and insurer will investigate to find out what happened.
Until they find out, if the insurance does not pay for it being stolen or you do not have insurance, I am afraid you have to continue paying for the car legally under your finance contract.

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