- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Vehicle loan/insurance question
Posted on 2/8/18 at 6:35 pm
Posted on 2/8/18 at 6:35 pm
Recently purchased a new vehicle around the holidays. I traded in a vehicle and have a very cheap payoff for new vehicle.
Anyways, I got a letter in the mail today from my lender (that the dealership used). It says to lower our deductible from $1000 to $500. I looked through my paperwork from the dealer and I have no forms agreeing to this, like this letter states.
I can move my deductible down no problem, but if I get in a accident, I have the money for the 1k deductible, also the new insurance policy has taken effect and I have already paid a year in full with new changes.
I have never ran into this before where a lender has dictated or suggested a $500 deductible.
Is this norm with some lenders? Why didn't the dealership not disclose the terms? What would you suggest?
Anyways, I got a letter in the mail today from my lender (that the dealership used). It says to lower our deductible from $1000 to $500. I looked through my paperwork from the dealer and I have no forms agreeing to this, like this letter states.
I can move my deductible down no problem, but if I get in a accident, I have the money for the 1k deductible, also the new insurance policy has taken effect and I have already paid a year in full with new changes.
I have never ran into this before where a lender has dictated or suggested a $500 deductible.
Is this norm with some lenders? Why didn't the dealership not disclose the terms? What would you suggest?
Posted on 2/8/18 at 8:46 pm to momentoftruth87
That’s very normal for lenders to require no more than a $500 deductible. You must have it financed with some shite company like Santander or something, though.
Just lower your deductible and pay the difference. I’m sure it’s somewhere in your paperwork. Look again.
Just lower your deductible and pay the difference. I’m sure it’s somewhere in your paperwork. Look again.
Popular
Back to top
Follow TigerDroppings for LSU Football News