Totaled truck - Forced to buy another...ugh

[Way2Deep]

I was not planning on buying a new vehicle for a couple years but thanks to some jerk not paying attention while driving, I have to.

I would like to know what I need to bring to the dealer as proof that my old loan through FMC is being paid off.

Someone told me I should get a "Total Loss Report" from the insur. company. Will this work?

 

Credit Application:

 

Your Age? 34

 

Your Equifax Credit Score? 594

Your Experian Credit Score? 627

Your TransUnion Credit Score? 645

 

How many years have you been on file with Equifax? 16

How many years have you been on file with Experian? 16

How many years have you been on file with TransUnion? 16

 

YOUR PREVIOUS AUTOMOTIVE CREDIT HISTORY

 

Do you have an open auto loan? Yes

Will this open auto loan be a trade-in? No

How many late pays within the last 12 months on the currently open loan? 0

How many late pays within the last 13-24 months on the currently open loan? 2

Your current open auto loan is financed with? FMC

Your current open auto loan payment is? 635

Estimated amount you may be upside down in this vehicle? 0

Rate your payment history on this open auto loan from 1-10 (1=poor:10=Best) 9

 

 

YOUR REVOLVING CREDIT HISTORY

 

Total number of revolving account(s) you have? 1

Total percentage utilized overall? 35%

How many of your revolving accounts are store cards? 1

How many of your revolving accounts are major credit cards? (i.e. Amex, MC, Visa) 0

How many of your revolving accounts are known subprime credit cards (i.e. Aspire, 1st Premier) 0

 

YOUR PERSONAL INFORMATION

 

How long at your current residence? 5 years

Do you Rent or have a Mortgage, or Live w/Relative or Other? Mortgage

Your Monthly Rent or Mortgage payment? 1487

How long have you held your current job? 12 years

Your total provable monthly gross income is? 6100

Your provable monthly gross income is provable via what method? (i.e. computerized paycheck stub, or tax return, or bank statements) pay stub

Is there additional monthly income? What amount monthly?

Describe the source.

Is the additional monthly income provable?

Spousal income is not applicable.

 

YOUR DOWNPAYMENT

Please tell me your exact down payment in cash? (rebates and trade equity are not considered, please input a dollar value only.) $3000

Does any credit repository contain any Public Record? Yes

If yes, please very briefly describe. Vol. dismissed BK13 in Aug 2008

 

Does any credit repository contain any Collection Account(s)? Yes

If yes, please very briefly describe.

2 CO's (from BK dismissal) that I am paying on. 1 with $800 bal, 1 with $2300 bal

 

Please rate your overall creditworthiness on a scale of 1-10 (1=poor, 10= best) 7

Please rate your Installment credit history on a scale of 1-10 (1=poor, 10=best) 9

Please rate your Revolving credit history on a scale of 1-10 (1=poor, 10=best) 6

 

New or Used vehicle you are considering: Please very briefly describe. Looking to replace what I lost, 2006/07 Used truck, $25-30K

 

Thanks for any insight!

[MarvBear]

Did you have GAP insurance on the loan that involved the total loss?

[Way2Deep]

Did you have GAP insurance on the loan that involved the total loss?

 

No, estimates from the insurance company put the value at payoff +~$3000

 

Thanks!

[MarvBear]

Should be ok with a copy of the insurance check I would think. Sounds reasonable to me.