Originally Posted by Benzadmiral
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I guess the big Q is: If I locate a good car soon and finance a portion of it, will the existing BMW loan balance badly affect my interest rate and credit score? Say I make a deal on a good Regal -- there's one near me at the moment -- make a hefty down payment and finance the rest. Will the finance guy at the dealership come back with a long face and say, "We can't do this because . . ."?
Ask FLO for a total loss letter... (it has various names) its just a statement from the insurance company that the existing vehicle is totaled, should alleviate most issues...
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I guess the big Q is: If I locate a good car soon and finance a portion of it, will the existing BMW loan balance badly affect my interest rate and credit score? Say I make a deal on a good Regal -- there's one near me at the moment -- make a hefty down payment and finance the rest. Will the finance guy at the dealership come back with a long face and say, "We can't do this because . . ."?
Ask FLO for a total loss letter... (it has various names) its just a statement from the insurance company that the existing vehicle is totaled, should alleviate most issues...