My question is: you owe $8,700 on your bike. But you can buy it new for $7,000 before tax, reg, fin.
You get into a accid. and the bike is a total loss. Do you get your loan payed off ($8,700)? Or do they give you $7,000 the price it would cost to get you a new one?
And if you only get $7,000 for a new one do you keep paying your loan for $1,700?
Hope this is not a stupid question. Just would like to know if any has a answer.
Dan F4 Red/Black