My car was totaled recently and my insurance has already issued a payoff to the lienholder. They said it would take 7 to10 days for the payment to be received by the bank. Should I wait until after the check hits the bank before I attempt to purchase another vehicle? Will the other car loan potentially affect my interest rate? Or will the dealer take this into account when financing?
2007-01-26 07:28:20 · 4 answers · asked by Neosamurai 1 in Cars & Transportation ➔ Buying & Selling
Depending on your income and credit score, it may not matter, I currently have three cars financed in my name, one I co-signed for my son, one is my old car I gave to my daughter, and one is the new 07 I just bought, all three in my name, I insure 5 cars counting my son's two and my husband's.
2007-01-26 07:38:22 · answer #1 · answered by smartypants909 7 · 0⤊ 0⤋
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2016-09-26 07:14:03 · answer #2 · answered by ? 3 · 0⤊ 0⤋
The status of the payment will not affect your credit.
Have you thought about arrangeing for your own financing? The best thing to do, if you qualify, is take out a home equity loan. The interest payments are tax deductible.
2007-01-26 07:40:23 · answer #3 · answered by regerugged 7 · 0⤊ 0⤋
Getting a clean motor vehicle loan isn't basic even though it would properly be the finest thanks to comprehend your dream motor vehicle. there are various gamers contained in the motor vehicle finance marketplace and for the consumer determining on the most acceptable type of loan is a tough job. Many factors should be considered earlier taking up a motor vehicle loan. even if you must take in a private loan or no longer, will matter upon the motor vehicle you want to purchase.
2016-12-03 02:15:22 · answer #4 · answered by marconi 4 · 0⤊ 0⤋