I went to the dealer with my g/f's dad, and he wanted to trade his '05 Nissan Quest for an '03 Cadillac Escalade.
But when they came back with the numbers, they said he owed more now than when he bought the van because the bank has put a $3-4k forced insurance thing on his loan for some reason and now the only way to go through with the deal without talking to the bank, is by dropping $9k down instead of $0.
My question is, what is this "forced insurance"? And how can he get this thing straightened out so he can go through with the deal (like just transfer the F/I [lol] to new loan for the Caddi)
But when they came back with the numbers, they said he owed more now than when he bought the van because the bank has put a $3-4k forced insurance thing on his loan for some reason and now the only way to go through with the deal without talking to the bank, is by dropping $9k down instead of $0.
My question is, what is this "forced insurance"? And how can he get this thing straightened out so he can go through with the deal (like just transfer the F/I [lol] to new loan for the Caddi)