Criminal stole my truck and left in tow yard

[racquelshort]

My truck was stolen while i was out of town. 3 weeks later it was recovered in tow yard. Insurance guy says i have to take it back cause nothing is wrong with it, just missing bumper. Its been gone for 3 weeks and he tells me i have to take it back! I have gap insurance and i have already bought a new truck. What are my rights? I dont know where or who has been in my truck and i do not want it now. Can i refuse this?

 

[army judge]

No, you don't have to take it back, but if you don't it'll cost you.

The insurance company won't reimburse you.

Your storage fees will grow.

You're stuck with two trucks.

Retrieve the one from the tow yard and try to sell it.

Otherwise, your financial troubles will compound.

Or, contact an attorney and see what you can learn.
The first meeting is normally free.

 

[racquelshort]

what is the purpose of gap insurance? is there any way to avoid taking it back? its missing the bumper and its been gone for 3 weeks.....i just cant see taking back a truck that has been in someone elses hands for 3 weeks, not knowing what they have done to it and in it.

 

[army judge]

what is the purpose of gap insurance? is there any way to avoid taking it back? its missing the bumper and its been gone for 3 weeks.....i just cant see taking back a truck that has been in someone elses hands for 3 weeks, not knowing what they have done to it and in it.

You're asking the wrong person those questions.
I'm another nobody on the Internet.



I'm powerless to make the decisions you desire.
You should be making those protestations to the insurance companies.




In the end, I fear they will fall on deaf ears.

Speak with a local attorney.


The sooner, the better for you, perhaps!!

You'll get no resolution over the Internet.

IF you have recourse, it most likely is in a courtroom or the compassionate heart of an insurance company official.

The longer you delay, the bigger your debt will become!!!

 

[mightymoose]

what is the purpose of gap insurance? is there any way to avoid taking it back? its missing the bumper and its been gone for 3 weeks.....i just cant see taking back a truck that has been in someone elses hands for 3 weeks, not knowing what they have done to it and in it.

In the event of a total loss gap insurance covers the difference between the value of the vehicle and the amount that you owe. You do not have a total loss... review your gap policy and you likely will find a specified length of time that the vehicle must be missing before it is declared a total loss. Yours was recovered within that time, it seems, and what you have is a truck with a missing bumper- far from a total loss.
Your insurance should cover the repairs for the bumper, minus your deductible.
The truck is yours- there is no practical reason why you should not be responsible for it. If you don't want it anymore, sell it.
If you refuse to take the truck back the storage fees will accumulate and you will owe more and more to the tow yard. Your insurance should cover the cost of the tow and storage up to the time you were notified about the truck. The tow company can sue you for any amount that you owe, or can place a lien on the truck and sell it themselves... which does you no good if you still have an outstanding loan.

Your best option is to take it back and sell it. You will lose more money if you don't.

Do yourself a favor and continue to make payments on BOTH vehicles. You will lose your argument if you try to say that you don't owe the bank on the first vehicle, and your credit will get hosed. Before you purchased the new vehicle you should have worked with your insurance company to make sure you had been cleared from the existing debt. Hopefully you are not upside down on the vehicle that was stolen.