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New Member
posted Apr 29, 2020 1:20:52 PM

Do I need to put down a Sales price for a car that was totaled?

As stated, my last car was totaled.  I use it for paper deliveries on the weekend.  I didn't actually get any money back, as it went all to the loan.  Covered most, but I didn't actually sale it.  Do I put down anything or since it was a total through insurance its not a sale?

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1 Replies
Expert Alumni
Apr 30, 2020 10:55:51 AM

The sale price is the amount that the insurance company paid you for your loss, even if it all went to the loan.

 

The car was not sold, but it was disposed of.