The one for the vehicle we're keeping regardless. (The other-not so sure!)
I was a little concerned when I read it, it lists a total amount that is higher than what our 'current' payoff amount is but I think they listed the total amount, including interest, of our remaining payments. Does this sound about right? Or if I sign it, am I agreeing to pay back extra? (Our current payoff amount is about $17,500 but the letter says $20,593. We have about 41 payments remaining at $504.02.)
I will try to get them to agree to less... FMV is about $10-12K depending on the source. I figure if we surrendered it, they would sell it at auction and get $4-7k at best. It has some minor defects (minor dent on one side, needs tires, windshield has a crack) but it is a reliable vehicle and should last a while if well cared for. I'm going to suggest I repay $12,000 at the current interest rate & # months. No harm in trying!
I was a little concerned when I read it, it lists a total amount that is higher than what our 'current' payoff amount is but I think they listed the total amount, including interest, of our remaining payments. Does this sound about right? Or if I sign it, am I agreeing to pay back extra? (Our current payoff amount is about $17,500 but the letter says $20,593. We have about 41 payments remaining at $504.02.)
I will try to get them to agree to less... FMV is about $10-12K depending on the source. I figure if we surrendered it, they would sell it at auction and get $4-7k at best. It has some minor defects (minor dent on one side, needs tires, windshield has a crack) but it is a reliable vehicle and should last a while if well cared for. I'm going to suggest I repay $12,000 at the current interest rate & # months. No harm in trying!
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