cdburnette
New member
I bought a car in December, I owe 7,000 on it still. On Valentine’s Day someone ran a stop sign and hit me. Their insurance took responsibility for it and my car has been in the shop for 2 weeks now. The repair rep just made it in and has determined it to be total loss and estimated the repairs at $5,155 I’m assuming that will be close to the payout they give me.
Is there anything else I can do? Or am I stuck just being back to square one trying to come up with a down payment for a new car and get a new loan and still pay off the rest of my current loan? I went directly through the person who hit mes insurance and didn’t make a claim on my own insurance. Is it worth involving them now?
I feel so defeated. I saved up 3000 on the down payment for this car researched and looked for months for a reliable car and a dealer that would finance me with my not so good credit
Should I get a lesser payout and keep my vehicle and use it to trade in on another car and roll over any negative equity on to that loan?
Any help would be appreciated
Is there anything else I can do? Or am I stuck just being back to square one trying to come up with a down payment for a new car and get a new loan and still pay off the rest of my current loan? I went directly through the person who hit mes insurance and didn’t make a claim on my own insurance. Is it worth involving them now?
I feel so defeated. I saved up 3000 on the down payment for this car researched and looked for months for a reliable car and a dealer that would finance me with my not so good credit
![Downcast face with sweat :sweat: 😓](https://cdn.jsdelivr.net/joypixels/assets/7.0/png/unicode/64/1f613.png)
Should I get a lesser payout and keep my vehicle and use it to trade in on another car and roll over any negative equity on to that loan?
Any help would be appreciated