Q: My car was parked on a street with street parking 15 inches from the curb and a school bus hit it.
The kids on board and on the street said she backed up down the narrow street and they warned her and she still kept goin and side swiped the whole car totally it. Now I’m stuck paying the difference in the totaled worth and my loan. Shouldn’t their insurance pay something?
A: Any vehicle insurance--school bus or otherwise--has the obligation to pay for the market value of your car. If that is less than the loan balance, that is not their issue. So yes, through no fault of your own you can end up owning money on a set of wheels you no longer own!
You can check the valuation--I assume they gave you a "valuation sheet"--and run it by a local dealer. Other than that you are stuck.
For anyone reading this--when buying a car, try to make sure the payoff price is less than the value. otherwise this is what happens.
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