Car accidents are always unwelcomed but unfortunately, becomes a part of life. Even though you may walk away from an accident but you may be left with a totaled car and you still owe money on it. This is a particularly awful situation especially if you need the finance to buy a new car. We, at Speed Car Removal, have some ideas for you.
Talk to Your Lender
This may be a longshot but if you are still making payments on a totaled car then you should at least speak to them. The lender knows that he can no longer possess the car and at the end, they will need their money. While they might decide to proceed with collection efforts and may convince you to file for bankruptcy which means they don’t see any money. They might be open to the idea of refinancing the loan so that they eventually give you an option that can be mutually decided.
Consult a Debt Management Specialist
Another viable option is consulting a debt management specialist since everyone these days has some form of piling debt, thus, many experienced specialists to help you. They may offer a number of solutions, they may volunteer to contact the lender on your behalf and work out a deal on your behalf. Another way would be trying to manage and reduce your overall debt as much as possible. Debt management companies in Perth may also refer you to companies that may purchase your debt on your behalf, you are however expected to pay but on more favorable terms.
Consult Your Insurance Company in Perth
The best and most logical solution is to speak to your insurance company. By recovering the money from your insurance company you might be able to pay off most, if not all of the finance, owed to the lenders or at least reduce the gap. Don’t immediately use the insurance payment to pay of the lender but consider all your options. Consult with the insurance company and explore other options if possible.
Go to a Salvage Lot
A totaled car is no good to a dealer or second-hand car buyer. The best option is to opt for a cash for car company who will willingly buy your car in any condition. Companies like Speed Car Removal will pay you top dollars for your totaled car and even arrange to remove the car from your premises as well as handle all the paper work within hours of contacting us.
Call Speed Car Removal in Perth at 0431 328 128 for top cash for cars, vans, Utes and trucks. Expect to get offers up to $9,999 for your old cars.