I need some advice here. My 2018 Sonata was totalled in an accident. The other party’s insurance determined actual value of car to be 20800 after taxes. My payoff was 15800. HMF is saying they are owed the actual value of car and I get the taxes portion.
They said the contract specifically states all monies if car is involved in a total loss needs to go to HMF. Is that correct?
What does your contract say?
If you have the funds, call HFS and tell them you want to buy-out the Sonata for $15800, and the check should go to you.
Contract says hmf is entitled to all insurance proceeds in the event of n accident or loss 
they wont let me do that since there is a claim on the account.
Did you make a large downpayment or provide a trade-in, that is contributing to the large diff in totaled cost vs buy-out costs?
If so, its speaks to the advice on the forum to not do these types of things, because of just this scenario.
zero down…all the CCR was due to lease cash and uber cash and boostup
Legally…why not? I don’t see how they could prevent you from buying out the vehicle at your payoff amount, regardless of whether it’s been totaled or not. This is really interesting. Would you mind posting the full contract?
