by Guest » Sat Oct 18, 2008 07:36 am
hello everyone, love the forum. I was wondering, Ive had about three vehicles financed and traded in for new cars. In 2006 a dealership sqauked me into buying this car that pretty much doubled my monthly payments. I liked the car and maintained it well. I was ripped off I think on the amount they gave me for the trade in but its too late for that. Anyway, just a few months ago I totalled my car. It was only my car and my "only car". After taking 3 1/2 months for insurance to "investigate" it they sent the check to my lien holder. Yes I did have GAP and I am in the process of getting that taken care of. I owed quite a bit so my acv of the vehicle just barely cut the loan in half. So my question is this, yes I know I still owe the bank, I guess apparently the insurance gets the car, My lien holder still wants the money so what do I get? I put alot of money into the car, Ive had no car for the past 3 or 4 months what do I get out of this 40 thousand Iam expected to pay? Someone got the car I traded in, someone got this totalled vehicle and the bank gets thier money, what am I going to get? Since I am the one who made this deal??? Can some one please help me? Along with the lien holder getting a check for 20 thousand, they still want me to come current with my payments? I dont even have a car. I really dont get this. I get the big picture but this is really screwed up and unfair. Thanks.
Posted: Tue Oct 21, 2008 10:44 am Post Subject:
Thats how we have always bought ours. When cars like my Grand am first came out they were up there in price and I really didn't want a car payment so I save and a few years later (3) I got the same car for thousands less. If I would ahve bought it straight out on a payment plan I would have owed soo much more than I paid by waiting and buying one.
My hubby is always on the "new vehicle" thing...I just don't see throwing away the money with the way depreciation is.
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