Are you entitled to your lost down payment after you vehicle is deemed a total loss?

Question

My car was brand new I purchased it 2 months before the accident and I bought the car with a $2500 down payment.

Answer 1

No.  All you will get is the Actual Cash Value(Replacement minus depreciation).  If you owe more than the ACV, you are still responsible for the difference unless you purchased GAP insurance.   Resolving total loss claims can vary from insurance company to insurance company.  Yours may go by the Bill of Sale and deduct the mileage.  Others will replace your vehicle without any depreciation.  



Liberty Mutual offers this in MA -

New Car Replacement Program***

We will replace your new vehicle with no depreciation charged if it is declared a total loss. This program is available to you if your car is less than one year old, has less than 15,000 miles, and was not previously owned.

Answer 2

You will get the fair market value of the auto.  What you paid for it and the amount of the down payment has absolutely nothing to do with it.  If the fair market payment is less than what you still owe on the auto, you will have to make up the difference yourself.  I hope you were a smart consumer.