I totaled my car and I just went to a dealership and put money down for a new car ?

And well I still have a loan out on the totaled car the gap insurance and my insurance havent paid it off. And well I was just wondering can I still get a loan for this new car because all I want to do is drive it now I mean I put a lot down and I have amazing credit. And I was just wondering how long should the wait be?

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  • Eddie
    Lv 5
    9 years ago
    Favorite Answer

    you should be talking to your bank and insurance agent. They will know better your specific situation better than any of us will.

  • 9 years ago

    The insurance will pay off the loan if the totalled-out car had that much value. You get what's left. Buying a new car will be just like before you had a car in the fifrst place. Work with the internet sales manager and avoid the sharks on the lot.

  • 9 years ago

    You will qualify, but it will be big hit on your wallet. You have to pay the difference in what your insurance said it was worth and what your remaining payments are. the new car and the old car payments can be combined into one loan. That's what the car dealer will tell you. Run the numbers carefully since this might not be a good deal for you.

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