If I was riding a friend's motorcycle that was not insured and crashed causing $4500 in damages but the blue book value is $2165, what do I have to pay?
Question Details: Am I entitled to the title and motorcycle? They are currently trying to sell it for $400-500 and still want $2165 from me. Isn't this double dipping? I am now offering to pay the difference of $2165 and $500 for a total of $1665. What are my rights?
If you are "legally liable," then you owe the difference between the fair market value of the motorcycle at the time of the accident and the fair market value after the accident ("salvage value"). You cannot legally force them to tender title to the motorcycle. At the same time, you are not legally obligated to accept title to the motorcycle. You can try to reach some agreement for them to tender title. But then you would be responsible for the entire "fair market value" of the motorcycle.
