If you were rear ended in an accident your car was totaled then taken away the other party admitted fault immediately but what owe on is more than book value do they only have to give that?
It depends on the specific laws and regulations in your jurisdiction, but in most cases, if you were rear-ended in an accident and your car was totaled, you are entitled to compensation for the actual cash value (ACV) of your vehicle, which is typically the market value of your car before the accident. However, if you owe more on your car loan than the ACV, you may be in a situation known as "upside down" or "underwater" on your loan. In some jurisdictions, the other party's insurance company may only be required to pay you the ACV of your car, even if you owe more than that amount on your loan. As a result, you would be responsible for paying off the remaining balance of your loan. However, some states have laws that protect consumers in this situation, and you may be able to recover the full amount that you owe on your loan, including any negative equity. It's important to consult with an experienced attorney who is familiar with the laws in your jurisdiction to fully understand your rights and options. They can provide you with personalized legal advice based on the specific circumstances of your case and help you navigate the claims process to ensure you receive the compensation you deserve.