totaled car

I was recently hit from behind (other driver was ticketed) and I own a 1998 vehicle blue book value 4000 the damage will exceed the value so the car will be totaled but car is worth more sold privately – I will get the 4000 they take car and now I have no car and not enough $ for a replacement – what options are available

Asked on May 21, 2009 under Accident Law, Colorado

Answers:

J.M.A., Member in Good Standing of the Connecticut Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

If you have 4K, and a job, I suggest going an executing a 2 year lease with a car dealership if they will agree to a 2 year lease.  You can use some of the money as a downpayment on the lease and the rest to cover some payments.  When you save up enough money, you can buy a new car.  You can also try to locate another used car and put 4K down on and finance the rest over time untill you own the car.  You can probably get a good deal by looking at "carmax" on the internet.


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