Old car totaled with unpaid loan, new car financing/leasing question.

shinnsdshinnsd Member Posts: 3
edited September 2016 in General
Hi all,

I am currently in a strange situation. Basically I got into an accident, and my old car was totaled. Of course it was the other party's fault, so I got a settlement check. Although the check is more than sufficient for me to pay off my current loan. My concern is, even if I pay off the loan immediately, it might not show up on my credit report in a few weeks. The debt shown on my credit report might have an impact on my new car loan. Have anyone been through this kind of situation before? If I show the new lender my confirmation of the previous payoff loan, will they believe me?

Thanks

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