Buying new car after total loss

Janjua8

Have a general question about total loss. Now from what I know if you total a car, you gotta wait for insurance and gap to pay it off. In order for it to be off your name. In order also, for banks to give you a fair apr. My friend and I were arguing about this. His claim is, that you do not have to wait and can go to a dealership and show proof of total loss (from insurance). Once that proof is shown, they run the credit as if the loan is off your name, thus, giving you a fair apr. How true is this? I just dont want him getting his credit ran and getting 2628282% apr. Imo waiting is the best. Hes also eyeing a car he thinks will get sold asap so I understand his impatience. If not possible and waiting is the best way, is there a way to safely (safe from loopholes dealers use to screw you) give a deposite and have them hold the car till you're ready to buy??

Thanks.

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