Quote:
Originally Posted by FRSure
In the end, did they gave you a new car without you taking more money out your pocket?
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No because I did not have "new car replacement"
I accepted offer (24k)
They paid off my loan on the car (19k)
Left me with (5k)
Then you do what you want with that...put it down on new blow it on hookers...whatev.
If you owe more than a car is worth
Owe 25k
Worth 22k
Then you have a prob. They pay loan but you are left with 3k balance you have to pay for car you don't have. Gap ins. Covers that difference so you walk away owing nothing. (Always get gap it's cheap and worth it if you don't put a huge chunk down when you buy a car)
Your car is so new this most likely will not be an issue.
I had 10k down (from trade in) so I was in a positive equity situation from day. 1.
I will pay extra for new car replacement coverage when I replace my brz in a few months. I also had a second car so I didn't use rental and could take as long as I wanted to negotiate.