Questions about total loss
A couple of weeks ago, I made a post asking whether my vehicle was a total loss, and many of you commented for which I’m grateful. Today, my insurance company called and informed me that it is a total loss. Since I had a waiver of depreciation, the amount offered to me is more than enough to cover the loan on the vehicle.
I was also told that I need to submit a couple of documents to process the amount and return the rental vehicle on Sunday (in 3 days). My question is: will the insurance company pay off the amount within those 3 days so I can pick up my new car? I thought I would be able to keep the rental vehicle until the payment was made.
My new car is ready for pickup at the dealership, but I’m unsure whether I should go ahead and pick it up after returning the rental. I don’t want to end up paying for two loans at the same time.