What would you like to do?
Your name must be on the Title or Loan in order to get car insurance under your name. Otherwise this is considered Insurance Fraud. It is punishable by the law.
26 people found this useful
Was this answer useful?
Thanks for the feedback!
Think about it, the car was NOT in their possession, so how can they report it stolen? They cant. Its a CIVIL matter NOT criminal.
If the bank sent you a title without a lien holder on it can you stop making payments on the loan and keep the car?
Your obligation to repay the loan is based on the promissory note you signed, and has nothing to do with a lien on the vehicle. Without a lien on the vehicle, the lender will …be unable to repossess the vehicle, but they can still collect on the debt. They can also impose substantial penalties. Without a vehicle lien as collateral, most lenders will convert your auto loan into a signature loan at an interest rate of 12% or higher.
The title holder has no job license or insurance as cosigner you are making payments what can you do to get possession of the car?
Answer IF you are NOT on the TITLE, contact the lender, explain the deal and ask them to repo for you, take the buyer OFF the loan and let you take possession. That… will NOT get the payments off you but will give you room to work. You are not the first person to have the problem and most lenders will ways to solve it.
It is best to have the person buy the vehicle off you straight out. Then in turn, with the money you receive from him/her you pay the remainder of the loan. It gets too compli…cated for someone to take over car payments and you sure don't know this person. They could well leave the country and leave you holding the bag. Good luckMarcy
How can you protect your car from repossession over the weekend in order to make full payment on Monday?
Answer Other than hiding the car very well, you can't.
If a friend says they will let you take over payments on a car how does this work Do you have to get approved on their loan?
Answer Never done this one, but it's common. Make sure yall trade info. Know their finance company and make sure your finance company knows theirs. Call, talk to …some at your finance company/bank an they should be able to help you, or if you want to remain anonymous, just ask a different finance company/banker and they should have someone there who might could help you explore your options more thoroughly. Remember... "it don't mean nothin 'till ya sign it on the dotted line"
http://www.lawdepot.com/contracts/ I just created a contracted in minutes for $15.00. Go under equipment rental it works the same.
Write a check to the finance company every month
I am the lien holder of a car I sold to a friend who has not made the contractual payments how do I reclaim the vehicle?
The best way to handle the situation is to simply ask for the car back. If that fails, then you can contact the police to assist you with getting the car.
Yes, a person can sell a car and remain a lien holder until all the payments are made. This is done once in awhile and works well if you don't have to repossess your car.
Cannot be answered here - that information should appear in the contract language of the policy. Generally, however, the insurance agent will take a deposit premium for the an…ticipated first month's premium at the time that the application for coverage is taken. The application is essentially an offer to purchase insurance. The insurance company than analyzes the answers given on the application application in accordance with its underwriting guidelines. Those guidelines lay out the types of risks that the insurer is willing to accept and for what price (premium). If a policy is issued (because the insurer is willing to accept the risk as identified in the application), a policy will be issued. The front page of the policy is called the Declarations, and will show a summary of the coverage, as well as the due date and amount of subsequent premium payments. If the insurer decides not to issue a policy for a reason that is not prohibited by law, the deposit premium will be returned.
Not unless you have something in writing that states that they are to make the payments.
This is usually a situation where someone owes money on their car, but cannot make the payments or they want to get a different car. They will offer the car up to you in… exchange for you taking over the car payment. Essentially, you just take over paying what they owe and you own the car.
If a you sign for a car for your friend and they don't make payments on it and its in your name can you sue your friend?
i am not sure and you need to call a lawyer
I make payments on a vehicle and have insurance in my name but the car is in my brother's name is this legal?
No. The primary insured MUST match who owns the vehicle, otherwise any claims made for that vehicle will most likely be denied.
You should check with your insurance company. If you still have a policy open for the car the premium is still due. But I'm not sure why you'd have a policy if the insurance c…ompany said the car was totalled