Bedifferent
Old man on a bike
W
My agent did say something about submitting paperwork (perhaps what your talking about) if the bike is totaled and then talking to the dealer as they might return some of the money. I'm just not very optimistic. I guess I'm getting ahead of myself on the whole thing. I'll know more Friday. My thinking was....if they allow me $12k NADA...add the accessories and if I were to luck out with $1k on the warranty, then that would be $14-15k. I still owe a little over $6,500 so that would allow around $8K maybe to put on another new bike if I could find a new one. (14,15,16.... I don't care.) I'm not looking to make a profit....breaking close to even and not taking a hit would be great.
@Bedifferent Concerning your extended warranty, different states have different statues regarding recovery of the funds, pro-rated, if you sell or destroy your vehicle. California, for example, allows you to recover the remaining time if you sell the vehicle, by contacting the original dealer, who must cut you a check. The problem with this is that it needs to be notarized and done in writing so they can't *****around for months on end because each month reduces the check they have to cut.
When I sold my last car, I tried to get my balance back, dealership was out of business. Check into it in your state, you may get nearly all the balance back since your just out of the factory warranty and on the extended.
If you're updside down on the loan, that's what gap is for, if you don't have gap, sorry to say your SOL. The unfortunate part is if you get replacement value, now you've got enough to pay off the loan and you're empty handed for a down payment.
My agent did say something about submitting paperwork (perhaps what your talking about) if the bike is totaled and then talking to the dealer as they might return some of the money. I'm just not very optimistic. I guess I'm getting ahead of myself on the whole thing. I'll know more Friday. My thinking was....if they allow me $12k NADA...add the accessories and if I were to luck out with $1k on the warranty, then that would be $14-15k. I still owe a little over $6,500 so that would allow around $8K maybe to put on another new bike if I could find a new one. (14,15,16.... I don't care.) I'm not looking to make a profit....breaking close to even and not taking a hit would be great.