If the cost to repair the vehicle is more than the car is worth, the insurance company will probably “total” the vehicle and give you a check for what they believe the car is worth. Unfortunately, if you paid too much for your car, including the sales price and financing costs, and your car is a total loss, you may become “upside down” in the value of the vehicle versus the loan amount due. In other words, you may end up with no car but with an obligation to continue paying for it anyway.