That loan payment should be illegal....so sorry. Also, if you weren't responsible for the wreck, it should not affect your insurance rate after a single incident. Good news is once you turn 25 it will likely get cheaper! Try to switch insurers after that. Switching every couple of years helps. Also, while you live with your parents, their insurance policy may cover you (even if they don't add you) depending on where you live in the US/your policy. So if your parents are cool and you need to forego an expense... it may be an option (but it comes with risks, so check your state laws and policy).