I totaled my car a few weeks back and insurance said it was worth 10,900. My car loan was approx 8k . The insurance was suppose to take out the 500 deductible and send me a check for appox 2300 after they paid off my car loan. I just recieved a chck from the lendor for 1300. Does this amoutn have anything to with the 2300 im supposed to get from insurance or is it just the lendor paying what i would have paid in interest for the next 4 years for my loan ?
2007-12-31 10:47:55 · 5 answers · asked by jesicalynn2000 1 in Cars & Transportation ➔ Insurance & Registration
You need the advice of an attorney
2007-12-31 10:51:17 · answer #1 · answered by Anonymous · 0⤊ 2⤋
i think of you misunderstood. Your payoff and stability on the instant is an analogous factor. in case you do no longer payoff on the instant your activity keeps gathering over the existence of the loan. So over the subsequent 3 hundred and sixty 5 days and a a million/2 you're able to save on that quantity of activity. With the balance volume and your fee i could desire to allow you recognize interior some money how plenty you're able to save over the subsequent 3 hundred and sixty 5 days and a a million/2. For demonstrations sake shall we are saying your stability on the instant is 5,000.00 and your activity fee is 10%. you're able to be able to desire to pay it off on the instant for $5000.00. in case you pay it over the subsequent 18 months it is going to value you approximately $5,4 hundred.00 over that factor era.
2016-10-02 23:58:14 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It is the unused interest from early payoff
2007-12-31 15:54:01 · answer #3 · answered by bobby 6 · 0⤊ 0⤋
The $1,300 is most likely an 'early payoff' interest refund.
2007-12-31 15:11:12 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No
2008-01-02 07:03:07 · answer #5 · answered by bundysmom 6 · 0⤊ 0⤋