If the car is totaled, you will get a “fair market value” check minus deductible in all likelihood.
More than likely the owner of the vehicle will get a fair market value check.
If there is a 20k loan on the vehicle and the fair market value is 25k, the owner will get the overage as they are the policy holder. If the OP outright owns the car- it all goes to them.
I missed the buy out part of this discussion and figured it was another leased vehicle thread.
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