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2021-11-08 12:50:08 (UTC)

Greed of some

‎Monday, ‎November ‎8, ‎2021

Accident and file a claim, an insurance adjuster will inspect the vehicle to determine if it is repairable or a total loss. ... If there is a lien, the check goes to the lienholder and any amount exceeding what is owed then goes to the owner of the vehicle,". If you owed $1100.00, then the dealer gets the check, not you. You still owe them $1100.00 as you agreed to it. If you did not have GAP insurance then you would still owe the $1100.00.
As for the sales tax, you can tell them you want the sales tax included in the price of the car your buy. After all, there also allow you to buy another car from them, WITH NO DOWN PAYMENT. To buy from another dealer, a downpayment is always required from all dealers. But, they can always add the sales tax to the loan.
If your car is declared a total loss, you can still drive it. However, you'll need to have your salvage title approved by the DMV, and you'll need the state's minimum auto insurance requirements. Totaled vehicles are only eligible for liability coverage, which is about $46/mo on average. Before you buy auto insurance, shop around for affordable auto insurance quotes by comparing multiple companies in your area. In short, that car is now yours, and not the dealers, because your loan has been paid off. You can drive it if get insurance.
By giving the car back to the dealer, you pay it off in full by your insurance company. That car they want back, plans on repairing it. So, that is the down payment there saying to you. Since it is driveable then that is a decision you need to make. Call your insurance company and tell them you were able to still get it in drivable condition and if they would insure it for you? If not then still a decision you have to make.
You can't expect to get money for anything at all. The reason, why there is insurance, is to protect both parties, The owner and buyer.
Total purchase price. The total purchase price is the biggest impact on how much you’ll pay for the car. It includes the price of the car plus any add-ons that you’re financing. Depending on the state and your own preferences, that might include extra options on the vehicle, taxes and other fees, and warranty coverage.
Interest rate, or APR. The interest rate is typically the second biggest factor in how much you’ll pay overall for a car you finance. APR sounds complex, but the most important thing is that the higher it is, the more you pay over time. Consider a $30,000 car loan for five years with an interest rate of 6%—you pay a total of $34,799 for the vehicle. That same loan with a rate of 9% means you pay $37,365 for the car.
The terms. A loan term refers to the length of time you have to pay off the loan. The longer you extend terms, the less your monthly payment is. But the faster you pay off the loan, the less interest you pay overall. Edmunds notes that the current average for car loans is 72 months or six years, but it recommends no more than five years for those who can make the payments work.
It’s important to consider the practical side of your vehicle purchase. If you take out a car loan for eight years, is your car going to still be in good working order by the time you get to the last few years? If you’re not careful, you could be making a large monthly payment while you’re also paying for car repairs on an older car.
You can buy a car anytime if you have the cash for the purchase. If you have no credit or bad credit, your options for financing a car might be limited. But that doesn’t mean it’s impossible to get a car loan without credit.
Buy from a trusted dealer. Unfortunately, there are dealerships and other sellers that prey on people who need a car badly. They may charge high interest or sell you a car that’s not worth the money you pay. No matter your financial situation, always try to work with a dealership that you can trust.
Many banks and lenders are willing to work with people with limited credit histories. Your interest rate will likely be higher than someone with excellent credit can command, though. And you might be limited on how much you can borrow, so you probably shouldn’t start looking at luxury SUVs. One tip for increasing your chances is to put as much cash down as you can when you buy the car.
Talk to your car insurance company. Different cars will carry different car insurance premiums. Make a call to your insurance company prior to the sale to discuss potential rate changes so you’re not surprised by a higher premium after the fact.

Next to buying a home, buying a car is one of the biggest financial decisions you’ll make in your life, and you’ll likely do it more than once. Make sure you understand the ins and outs of financing a car before you start the process.

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