<prompt> Human: Hi RedditmIve been reading through the posts but havent seen anyone that has come across my predicament, I will give you the point form:-Had negative equity on a car and traded in for a new one on Saturday-Finance had not gone through I signed the documents as it was late on Saturday so I insured the vehicle and they let me drive with the car but did not get any documents from the car dealer whatsoever as its pending.-on Sunday a drunk driver on my road smashed into my car and try to take off but his car was totaled and my new car was smashed as well Could be a write off.-Monday today I was expecting a call from dealer however didnt hear back at all.My questions are as follows Or would appreciate any feedback-What are my options here? Is the bill of sale transferred over to me yet?-If finance falls through can I just return the car even though its been in an accident-If finance does come through under another bank do I need to sign the document even though I didnt agree to it? -If I return the car what happens with the negative equity?-As the car hasnt been financed is it still the dealers car? And therefore as its been in an accident something I can return? Any assistance in this matter would be highly appreciated.  <response>: You signed the documents and took the car, so its yours. No givebacks.You had insurance. The car is trashed. Notify them. You will get paid for the damages, possibly including deductible recovered from the other driver.This money wont be enough to pay off the loan, apparently. Actually, the loan may be refused, since apparently theres no collateral anymore. You need to come up with the difference in cash in the near future.This is why you stop trading in cars and getting into a negative equity situation. 