Updated info on my car: Damage report

[SVT4J]

Please hope they total it so you can get an untouched vehicle. I tried to keep my Thunderbird Turbo Coupe and it was a nightmare after the accident. One thing after another went wrong until I was furious enough to sell it. If you have to wait for a while to get another cobra, then wait, but let them total it.

 

[mlrny01]

Originally posted by Vrrooom
I would lean towards totalling it, and hope they total it.

When my 99 Cobra Vert was totalled, I went through the same thing. Damage estimate was $18k. And they were trying to fix it. I kept pressing on them not to because of depreciation after an accident, it never running right again, etc. So they totalled it. And that worked out SO good for me, it was un believable!

On Jan 11, 2003, the car was totalled with $36k miles and the insurance company gave me $26500 for it!! If I ever tried to private sell it, I wouldnt have been able to swing more than $17k before it was totalled and definitely not much more than $12-13k if not.

Point is, I made out so good on that, I could pay of all my debts, and buy my 03. Cobras ticket out pretty good if totalled (usually), so ya never know. Might just get a nice hefty down payment for a new car and they can never decline a loan on that.

Not for nothin' however my past experience with putting a "hefty" D/P on a new car loan with medium credit was a VERY high intrest rate. I spoke with a personal friend after I turned down the purchase initally due to the APR, he advised me to lower the D/P and try it again, so I did down to about 15% and that returned from the same bank an APR of 7% on the same deal save for the D/P bieng lower..... It had alot to do with the fact that it was a 3 yr note that was of "low profit" to the bank which made some sense but a car loan can be P.I.F. early with no penalty???
:shrug: