No. Liability insurance follows the vehicle so the person who owns the vehicle you are borrowing needs to make sure that they have insurance and also needs to add you as a driver on his or her policy. You also need to make sure that this is done because if you drive the vehicle and get stopped you will get the ticket for driving without insurance. If you have an accident and are not added as a driver his or her insurance company may deny the coverage for material misrepresentation and guess who will be sued by the person you hit? Both of you will be sued and both will be responsible. Insurance companies to do not like vehicles to be loaned to unknown drivers.
Only your insurance company can answer that - mine does... I have insured vehicles that were not in my name and insured vehicles in my name for other drivers - Geico... I have also loaned vehicles that were in collisions and they still covered them even though I did not specifically "add a driver".
It means the bank, or whoever loaned you the money for the car, will send people out to take it back.
In the eyes of the law....YOU would still be liable....unless you have evidence that shows the driver of your car operated it in an irresponsible manner....(remember it has to be, "Beyond a proponderance of a doubt.") otherwise, YOU allowed someone to drive a vehicle belonging to YOU, and YOU loaned that vehicle to another person knowing their was no insurance on said vehicle.....see where this is going?? I was a Police Officer in the United States Air Force for a few years..... Hope this helps even though I know it is not what you were hoping to hear... Randy G.
If the dealer holds the lien and is the one that loaned you the money to purchase the vehicle he can repossess the vehicle if you fail to make your payments on time. Otherwise the selling dealer has no claim on the vehicle whatsoever.
The word loaned is one syllable.
You cannot just return a vehicle you bought. It is yours or the lender's who loaned you the money to buy it. There is no cooling off period on the purchase of a vehicle.
You insure a vehicle. The buyer. The only thing the cosigner is responsible for is paying the bank back the money it loaned if the buyer doesn't. The principal driver of the vehicle who should also be the buyer.
If the repo-man is looking for your vehicle, you do not own the vehicle yet. If you take the vehicle in for trade-in, they will have to contact the person who owns the vehicle to get permission to trade it (meaning whoever loaned you the money). Whoever they call is bound to mention that they are in the process of repossessing your vehicle. In alot of cases you need ownership of the vehicle and only a title can prove that to trade in a car.
English police forces will often share and use seized vehicles and loaned vehicles for promotional events and enforcement, this includes super-cars such as Bugatti, Lotus and Ferrari however due to the running cost and high insurance, they are not used heavily.