Diminished Value?

[BrokewrenchLS1]

Unless he owns clear title to the vehicle being repaired, the payment will be codrafted to the leinholder. It will be repaired or no payment made. The remainder of what you say is true.

Not always. My uncle recently got a check from his insurance company for hail damage; the car is still under loan, and the check was made directly to him. He put the entirety towards finishing the loan, rather than fixing the car.

 

[ibedayank]

Ballpark figure for DV is around 20% of the cost of the repairs. In your case though, There reallyshouldn't be any diminished value because everything will be repaired. Just because a vehicle has an 'accident' on its record doesn't mean it's going to be worth less. Thank the Lord you and your car wern't seriously damaged, and move on.......

an UNREPAIRED/UNCRASHED car is worth more than one that that has been

 

[buildmyown]

Unless he owns clear title to the vehicle being repaired, the payment will be codrafted to the leinholder. It will be repaired or no payment made. The remainder of what you say is true.

Not always I had insurance checks made out to me even when I had a loan. My insurance company would ask if I wanted the check made out to me or the shop doing the work. I really dont know the rhyme or reason to but I have also seen the codrafted checks I think it all depends on the lender and insurance company.

Not always. My uncle recently got a check from his insurance company for hail damage; the car is still under loan, and the check was made directly to him. He put the entirety towards finishing the loan, rather than fixing the car.

Close to what I did got the check worked a deal with a body shop friend to do it after hours. Paid him for his time and used the difference to pay down the loan some.