Question about totalled repoed car

[Anonymous]

Ok last tuesday my friend totalled my car and it was towed back to the towing yard.  Now this car is under my dad's name along with myself.  Now its been a week and the total charges come up to around 400 dollars and they have also sent me the certified letters letting me know if I dont pick it up, it will get repoed.

My question is, can i leave it there and all charges are nullified?  Because if i had taken it out, i would have junked it anyways. I dont want to pay 400 dollars for some bullcrap I didnt do and for a car im about to send to a junkyard.

Details: I live in Florida, and the damage of the car is just the back side axle damage and body damage.  Engine/transmission and all that good stuff was untouched.  The car is 96 mistubishi eclipse (now you know why theres no point in paying 400 dollars and rising to get it out).

HELP!!!

Thanks, 

Vlad

[Jazzzy]

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@Anonymous wrote:

Ok last tuesday my friend totalled my car and it was towed back to the towing yard.  Now this car is under my dad's name along with myself.  Now its been a week and the total charges come up to around 400 dollars and they have also sent me the certified letters letting me know if I dont pick it up, it will get repoed.

My question is, can i leave it there and all charges are nullified?  Because if i had taken it out, i would have junked it anyways. I dont want to pay 400 dollars for some bullcrap I didnt do and for a car im about to send to a junkyard.

Details: I live in Florida, and the damage of the car is just the back side axle damage and body damage.  Engine/transmission and all that good stuff was untouched.  The car is 96 mistubishi eclipse (now you know why theres no point in paying 400 dollars and rising to get it out).

HELP!!!

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Hi Vlad. No...that's not how it works. These people towed your car. They don't tow or store cars for free. It's their business.

I'm sorry this happened, but they will likely take action against you AND your father, if his name is on the car. Did you have insurance on the car? Insurance sometimes covers these costs. Have you checked?

Does your father know about this?

[Anonymous]

yeah he does, but im really confused because some sites say they'll just auction it off to cover their costs and other sites say they'll pursue it with colleciton agencies.  Also no i did not have collision coverage only liability, so insurance wont cover.  Even when it wasn't my fault.

[MattH]

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@Anonymous wrote:
yeah he does, but im really confused because some sites say they'll just auction it off to cover their costs and other sites say they'll pursue it with colleciton agencies.  Also no i did not have collision coverage only liability, so insurance wont cover.  Even when it wasn't my fault.

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The lender will auction off the car, and then if what they get at auction is less than what is owed they will go after anybody whose name appears on the loan as a borrower or cosigner for the balance.  You are better off doing whatever it takes to pay them off immediately to prevent the repo from happening.  And in future, try extremely hard never to be upside down on a car again but if you must be upside down on a car loan then you must take out "GAP insurance" which will cover the difference in cases like this.  Sorry you are learning all of this the hard way, but now your best option is to bite the bullet and pay up so as to avoid severe consequences.