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 Posted: Wed Dec 23, 2009 5:45 pm Post subject: |
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| Quote: | | blue book is only 3500, but i owe 4400.... becuase i only financed 6100 |
You bought a $3500 car for $6100 and you owe $4400 on it? | Quote: | | i went through CARMAX anyone dealt with their autofinance people on transferring collateral? |
Please don't tell me that you are thinking about rolling over the amount you will still owe into another vehicle purchase. If the above info is correct, you are living beyond your means and just getting yourself deeper and deeper into debt. You'd be financing debt for something you don't even have. That, you are not only paying for something you don't have but your also paying interest on it. You need to do what you need to do but IMHO, you might want to look a getting a beater to drive until you can get out of this debt. Not everyone needs to have a nice vehicle. Certainly $4400 is not a lot for a car but it seems like you were already rolling one loan into another. |
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tcope
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| Posted: Sat Dec 26, 2009 3:49 pm Post subject: |
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They got it most likely from NADA...Blue book takes a lot of other things into their vehicle evaluations, I don't know any carrier that would use a KBB as a value.
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Lori
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| Posted: Thu Jan 14, 2010 10:44 pm Post subject: insurance |
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my cadillac was recently totaled. ins co says cor is worth 3500 but i owe 9500
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nelloves
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| Posted: Fri Jan 15, 2010 12:31 am Post subject: |
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Sorry to hear that Nell...do you have GAP coverage?
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"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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| Posted: Wed Feb 03, 2010 9:13 am Post subject: Gap insurance |
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| If you have a Gap insurance coverage, you need not worry about the difference at all. But if you don't, there is nothing much to do except negotiating with the carrier for a higher settlement. However, the insurance company is not liable for the amount you owe. It will only pay you the actual cash value of your car. |
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Veronica
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| Posted: Fri Oct 08, 2010 4:01 pm Post subject: Insurance |
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Shut up cry BABY!! I owed 11,000 on my car and my insurance only paid 5,000 leaving a balalnce of 6,000. It could have been worse for you. GAP is the way to go!
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Donital
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| Posted: Fri Jul 15, 2011 6:37 am Post subject: EYlNTlcUEMc |
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The forum is a bgrtiher place thanks to your posts. Thanks!
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Marden
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