Question: Is Liberty Mutual setting myself up for failure? They told me I am covered for 3 more days for my car rental when my check is sent out. That means I should have my vehicle purchased within those three days. Maybe they don't know this but banks especially mine (Navy Federal) take their sweet ass time making funds available for a deposited check, especially a check that is greater than 10 grand. I called Liberty Mutual and these guys make no exceptions and have no leeway. I asked if they can write the check to my name and the car dealer I am buying the vehicle from. They say no. I asked if they can direct deposit the check. They say no. Does anyone know if I can endorse a check myself that is from Liberty Mutual over to the dealer?
So the problem is with the bank, not Liberty Mutual... is it not? I don't think it will take more than two days to have the cash in hand (within the bank's walls, your hand, etc.), so this basically means that you'll be car shopping today (do a few test drives, look at different models, etc.) and tomorrow. I told you. "FIRST"!
LOL Yes you were. But I already know the specific vehicle I want. In fact I already put in a small deposit in order for the dealer to hold the vehicle. Its that 2012 GTI i posted with 14,500 miles. The problem is that I am paying the rest of the vehicle with an auto loan from my bank. They conditionally approved the loan as long as I fax the buyers order from the dealer. Unfortunately my bank wont send the loan check until the buyers order shows that I payed for the rest of the vehicle that isn't covered by the loan which can only happen when the Liberty Mutual check funds are available in my bank account. Then they will mail the loan check and that will take ANOTHER day or two.
So, as I understand it, your dilemma is that you will have to pay for your own car rental for a couple of days while the financing of the new car gets worked out? Spending $100 to grease the wheels of an $11k transaction doesn't sound like a huge setback to me. Or, you can take the bus for a couple of days.
State Farm did a similar thing when my wife's car was stolen a number of years ago. We had a rental while the car was still missing. After a week or so, State Farm called and said they were declaring the car stolen and discontinuing our rental. I told them we needed a few more days so we could go out and get a new car. They agreed.
