by Guest » Tue Jun 24, 2008 11:50 am
I have a brand new altima coupe just off of production line in January and got hit in May!! Damage is almost 9,000! Is it worth me keeping or should I try and trade it in? What about my loan though?
Posted: Sun Jun 22, 2008 09:33 pm Post Subject:
(Should've probably started a new thread but I'm dead tired :( )
Kaely, 9k in damages won't necessarily total your Altima did the adjuster say it was a total?
Posted: Mon Jun 23, 2008 06:28 am Post Subject:
Kaely, the 9k worth of damages may not total your car. And in your case I sincerely doubt that it'll.
However, if it is damaged beyond repair, then it may not be worthy to invest into the car farther and trade it off.
The auto loan that you have, however, will remain in your report till its paid. If the car gets totaled, you have to forward the claim check to your lender in order to pay-off the loan.
Moreover, if the loan outstanding exceeds the claim amount, you're required to pay it off out-of-pocket, if you don't have a Gap policy in place.
Posted: Tue Jun 24, 2008 01:00 pm Post Subject:
$9,000 in damages does not mean much theses day. It could easily be all superficial. The nature of the damage itself is what's important to consider.
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