Notice: We are currently experiencing intermittent connectivity issues.  Online Banking and Mobile Banking are currently unavailable. Thank you for your patience as we work diligently to resolve this issue.
Notice: Campbell Branch is currently closed due to building maintenance. We apologize for the inconvenience and appreciate your understanding.
Find the nearest branch or ATM.
Notice: Due to an outage, our phone system, ATM's, Branches, Online Banking and Mobile Banking are currently unavailable. Thank you for your patience as we work diligently to resolve this issue.
System Maintenance: On Thursday, February 15th, we’ll be performing a scheduled maintenance starting at 10 p.m. PST and ending at 2 a.m. PST on Friday, February 16th. During this time, Phone Banking will not be available. Thank you for your patience as we update our systems to better serve you.
We’re experiencing technical difficulties with our phone system. We apologize for the inconvenience.
Find the nearest branch or ATM.
ALERT: DON'T BE MISLED. 
County Federal will never call, email or text you to ask for information. Questions? Dial us directly at 800-282-6212 - we’re happy to help.
Find the nearest branch or ATM.
All County Federal offices and branches will be closed on May 27th, in observance of Memorial Day.
Find the nearest branch or ATM.
Are you impacted by the severe weather? Contact us today to apply for our Emergency Relief Loan.

Have you been told your car is a total loss? What Next?

Have you been told your car is a total loss? What Next?

Published: July 10, 2019

Generally, a vehicle will be considered “totaled” by an insurance company if the cost to repair it would exceed its value. A car may be totaled as a result of a major accident or other types of damage, such as flood/water damage. Either way, if your car has recently been declared a total loss by your insurance company, you may be wondering how to go about replacing your vehicle and what to expect throughout the process.


How much will I get from my insurance company?

Your insurance company will determine the actual cash value of the vehicle, minus your deductible on your comprehensive or collision coverage, as well as any applicable state taxes and/or fees. They will then give the payment to you/the vehicle owner, your lender or both.

What if I’m still paying off my existing auto loan?

If you’re still making payments on your vehicle, you should contact your lender to let them know what happened. You should continue to make payments even if there is a claim filed by the insurance company as your credit may be affected due to missed payments. The lender still has the right to full repayment of the loan, even though you may no longer have your car. The lender may ask for a letter of intent from your insurance company letting them know that they will be receiving a check once your claim is fully processed.

Using Your Insurance Check to Buy a New Car

If your car is paid off, then you can expect your insurance company to issue you a check directly rather than paying off your lender. You may want to look into your auto insurance policy regarding rental car reimbursement, since you could be without a vehicle during this time.

Applying for a New Car Loan

If you need to take out a new auto loan to purchase your replacement vehicle, you can apply for one anytime. Research your options and be prepared to speak with a lender about your existing auto loan on your credit report.

Patience is a virtue when replacing a car after a total loss. The process can sometimes be drawn out, but once your claim is finalized, you should receive a check to help replace your vehicle.

Looking for the best auto loan options? Contact us today to find out more about our auto loans and car-buying services.

NCUA
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.
Equal Housing Lender
Certified - CDFI - US Department of the Treasury
cross