Re: Auto Accident car worth per what is owed

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Lots of people are upside down on their auto loans. It's a
risk taken when a new auto is purchased. I highly doubt that
you have any legal recourse to recover the difference. They
gave you the value of the car, not the value of your loan.

On 5/17/05, Scott wrote:
> I had a auto accident in michigan. It was the drivers fault
> per the police report and witnesses. The car was brand new.
> The car was worth $11000 at the time of accident but I owe
> $16,000. Michigan is a no fault state and the insurance
> company only paid what the car was worth so I owe about
> $5000 on the auto loan. The insurance company of the person
> that hit me will pay the deductable but that is it. Is
there
> any way I can recover the rest of the money..