I need help badly!

[DeafNatural]

I was involved in a auto crash where the driver rear ended me and now my car is deemed a total loss. The problem is I have all of 3 days left to find a new car because my insurance will only pay up to 7 more days after the car is considered a loss. I have been everywhere: the dealership, CarMax, OffLeaseOnly, my credit union, etc. The problem is my totaled car is still sitting on my credit report with a $22k balance. My insurance company paid $17k to them which is what it was worth but even at a 1.9% interest rate my car was upside down (undoubtedly because the dealership I bought it from were a bunch of crooks and I naively paid more than I should have for the car -- but that's neither here nor there). I have provided them proof of the GAP/GPP coverage I had on the car and proof of what my insurance has paid out and they still won't budge on giving me anything. Who knows how long it could take for that coverage to pay out. I'm sure they will fit it every single step of the way too. CarMax was someone flexible if I had a cosigner but the only person I can depend on already has two cars of their own so the results were the same is if I was on my own.

Please tell me someone has had experience with this or something. It's an absolute nightmare because I live in the country and commute to work. There's not a public busing system in sight and having had surgery last month I've already used a good portion of my days and can't afford to be absent from work for this. I'm really just about to have a melt down.

[guydiver]

Do you have any sort of rental car coverage on your policy?  That could buy you some time to get things sorted out.

[DeafNatural]

That's the thing. I'm currently using my rental coverage and my policy says I have 7 days from the date they consider it a loss which is Monday. Everything has been through my insurance and then they will go after his insurance for reimbursement.

[Anonymous]

Your current score is not bad.  What does your credit look like?  Do you have a downpayment?  You should be able to get approved for a new auto loan, I think.  But because of the unusual circumstances of your situation, I would go to a local place, and sit down and talk to a lender, such as your local bank or credit union.  Explain the car accident & stop gap coverage & insurance will pay $17k etc.  Tell them you already have a car picked out ideally before you go in.  I recommend a value car such as a new or lightly used camry or accord that retain value well.  Ideally get the VIN # even.  That helps them get you approved.  Show them the paperwork of your insurance etc. etc. is delayed I think they will understand.

[Anonymous]

My daughter was in a horrible crash last summer that totaled her car. I had Geico and I just kept asking insurance adjuster for extensions on rental and was granted 3 7 day ext until check was cut. Just an idea.

I had to call the adjuster because, csr at 1800 couldnt override. Only adjuster could.

[Creditaddict]

well I would eat the cost on the rental for a bit longer and get the payoff done and your score might jump... if you get a better rate it might save you thousands vs rushing it now just because of rental car ending.

[Ragelog]

Your options seem likely to be ask for more time via your adjuster or pay for a rental out of pocket until the gap coverage pays and you have proof of nothing owed on the loan. Waiting for it to report as paid on your Credit Report could honeslty take a month or more if they require that. However I have carried 2 car loans before so it is possible depending on income. I feel like when I did it was less than 40K at that time.

[Creditaddict]

Carmax makes since if you run into income issues with debt to income with loan still reporting because it's automated but your credit union? what idiots are you dealing with that can't simply look at the paperwork that it's being paid and process you through like you are not responsible for that on your report...

Id find a new credit union while your at it!

you do have all the paperwork showing what is paid so far and the original gap coverage binder to give them right?