by chris1 » Tue Dec 02, 2008 02:03 pm
hi all, i have a 07 dodge nitro we bought it in march of 08 but new, dealers are aways blowing out cars to make room for the new one's anyhow my
wife rearended someone and i pretty sure they are going to total it out
the problem is it is worth 20,000 i own 28,000, i have state farm do they pay off the 20,000 and i pay the rest with no vehicle or do they find me
a car any input would be great thankyou
wife rearended someone and i pretty sure they are going to total it out
the problem is it is worth 20,000 i own 28,000, i have state farm do they pay off the 20,000 and i pay the rest with no vehicle or do they find me
a car any input would be great thankyou
Posted: Tue Dec 02, 2008 02:28 pm Post Subject:
SF will pay the current value of the vehicle. If this is $20k, then you will need to speak to your lien holder about the difference. If you don't have GAP insurance you will probably need to pay the difference. Correct, you will need to pay the difference with no car.
Posted: Tue Dec 02, 2008 03:01 pm Post Subject:
Wow chris how did that happen? if you want provide which nitro (RT/SLT/ SXT, 2 or 4 wheel driver) it is, mileage and all options and i'll run a value for you, or better yet the VIN, and mileage and options...could be that it's not totaled at all...what else is in this loan that makes it soooooo high? did you buy a warranty? if so that can be canceled and you will be refunded a pro-rata share...are you sure your leinholder did not insist upon GAP ins? if so then that policy will pick up the 'gap' between the ACV (actual cash value) which is all SF owes, and your balance..minus your deductible in some cases....also what makes you think it is a total? if it's worth 20k the damages would have to be 15k or more (most likely) to total this vehicle out...
Posted: Wed Dec 03, 2008 12:54 pm Post Subject: thanks lori
well i know we do not have gap,we rolled 4k in at the start of the loan plus the vehicle has dropped about 4k in value, i spoke with body guy and they are at 10k without even getting into the suspension thanks again
Posted: Wed Dec 03, 2008 01:34 pm Post Subject:
let us know if we can be of any further assistance, good luck
Add your comment