Will my finance company help me get another car?

Question

My 2007 Dodge Caliber was stolen the other day. With some pretty poor credit, my finance company helped me get this car. The finance charges were high, but it was worth it to me because I surely needed a good and decent vehicle.

Now that it's been stolen, and my insurance company paying the blue-book value...and my finance company forgiving the GAP amount, do you all think the finance company will help me get another car? My payment history with them has been consistent. I sure need another car now.

Answer 1

Yes and they should offer a better interest rate too.

I would tell this story to my banker if I were you.

Beware of credit bandits.

Answer 2

Since you have established some better credit, find out from your finance co. what they will charge you for interest and then shop around for a better rate.

Its better to have a lender in place before you go shopping for the next car. A dealership may be able to beat your rate but don't count on it.

Your lender will want to know how much you are going to spend on a car so have a number in mind that you can live with and don't go over that amount when buying. This is not the time to overspend and not be able to make payments.

Lenders are not forgiving of missed payments and you need to keep your credit in good standing.

Keep your purchase in line with your budget and the approved amount. Check the KBB when you find a car. Have the car checked over before you buy it. Be sure you are approved before you make a down payment and take the car off the lot.

I know you need a car NOW but don't rush into a bad purchase. Rent a car until you find the right one. You were very lucky to have GAP and it paid off your loan...Good Luck.

Answer 3

Try to possess as much information as you can maybe is one option,however it is time consuming,here is the one i have ever had good experience with.http://carinsurance.expertsupport.info/a...

Answer 4

The person above me is Spot on! Only thing I'd like to add is that you better get a Engine Disabling Alarm this time. Pretty much all cars can be fitted with one.

IMHO a Caliber isn't one of the Top Stolen Cars. But then those must have been pretty unique Circumstances.