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Most finance companies will make you carry full insurance, at least till it's half way paid off!
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∙ 15y ago
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Do you need insurance on a used car from a car lot?
Most states require insurance on every car, and if your car is financed then the finance company may require full coverage to protect their loan.
Do I Need Full Car Insurance In Colorado?
If the car is paid off, then only liability insurance is needed. If it is not, then you will need a full insurance coverage plan.
What happens if your car gets stolen and you have no insurance and the car is on finance?
The finance company will want to be paid in full if they find out it's stolen. The responsibility to satisfy the loan falls on you seeing that you failed to maintain insurance.
If I am financing a car and is the only person on the loan. but my brother drives it and he has full insurance on the car. so the insurance is under his name. can the finance company repossess my car?
Yes
I don't drive my financed car. Do i need auto insurance?
Undoubtedly your finance contract requires full-coverage insurance. They will want it insured because there are other causes of loss besides collision.
Will a finance company accept storage insurance instead of full coverage if the car is never driven If so how much cheaper is storage insurance compared to full coverage?
They will probably demand full coverage on the car whether you drive it or not. The storage insurance should be quite a bit cheaper than if the vehicle were actually in use on the streets, etc. Check with your finance company and your insurance agent.
Do you need insurance on a financed car in NJ?
You ALWAYS need insurance on a financed car, and it has to be full coverage. Doesn't matter what state you're in.
If you finance a car do you need to be on the insurance?
Not where I live (Iowa). Title and loan are in my name, insurance is in girlfriends. And that's 2 diff vehicles.
When you finance a car do they give you insurance right there?
You get the insurance beforehand.
If a car on finance is stolen and insurance pays out but then the car is recoverd what happens to the car?
It belongs to the insurance company
If you finance a used car that is under five thousand dollars do you have to get full coverage insurance on it?
Yes, most lenders require full coverage. Ask the lender.
When your car gets towed and you have it finance but have no insurance or DL. can the finance company pick up the car for you?
ABSOLUTELY.
