<prompt> Human: I bought my car earlier this year used and took out a loan to pay for it. A nice soccer mom was kind enough to slam into me while texting and driving, totally my car. The insurance company has decided that the value of the car and amount they will reimburse me is less than the remaining balance of the loan, leaving me to cough up about 1500 for an accident that was not my fault. Do I have an argument here or am I just screwed out of the 1500?Assistant: The price I paid for the car and the subsequent loan was a fair market value, so Im failing to see how I am underwater on the money I owe. Wouldnt my bank have also questioned the loan like they do for a home mortgage if the price paid exceeds the actual value?  <response>: Just because the size of the loan and the value of the car matched at one time doesnt mean they still do. Cars depreciate. The more you drive them, the faster that happens. Its totally possible and not uncommon for the car to depreciate faster than you make payments. 