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Can you cash a check written to you by your insurance company for a car that was totaled but still has remaining payments on it to a finance company?

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2015-07-15 18:41:53
2015-07-15 18:41:53

Sure you can, but you're still responsible for paying off the loan to the finance company. If the check will cover the pay-off, give it to the finance company. If it doesn't, give it to them, anyway. It'll reduce your debt by that much.

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Contact finance company

Auto dealers would normally offer you a Guaranteed Asset Protection plan attached to your amount of the auto. This GAP is technically insurance of your asset, the car for payment of the remaining amount owed the finance company after the regular insurance pays their amount.

You are going to have to put down a down payment and then you can finance the rest and pay in 9 or 10 monthly payments. It reall depends on the insurance company.

Only if you stopped making payments and are behind on your on your payments.

You will still owe the finance company the balance of your finance note. Hopefully you have full coverage insurance. If you do have full coverage, the Comprehensive portion of your policy will generally pay off the finance company up to the insured limits (usually the remaining market value) of your insured auto.

Yes, with the agreement of the finance company.

If the driver was uninsured or only had liability insurance, they would be liable to still pay the finance company back or face a lawsuit.

When a person finances a car, proof of insurance is required, a buyer has about 24 hours to let his insurance company know about his car. In the event that car buyer stops making insurance payments the finance company is almost immediately notified and your car finance agreement charges the buyer a higher monthly payment for "single interest" insurance. That is where the finance company is reimbursed if vehicle is damaged, to protect their interests but not the buyer's. They can then at least get it fixed, and sell to someone hopefully more responsible. They have this stuff all figured out.

The insurance company will pay the finance company not you.

Perhaps your loan has been paid in full. Otherwise, call them and ask why they returned your payments.

Your car finance company will add their own insurance that covers their vehicle, but not your liability. ANd it will significantly increase your payments. It would be so much cheaper and better protection for you to find your own insurance. Park it until you get insurance.

Go to the bank or finance company and tell them what you are doing. Don't give the seller any money untill you have worked it out with the finance company.

Instant Finance is a New Zealand finance company specializing in personal loans and insurance. One can either apply for loans and insurance online or can visit any of the 22 branches based all over New Zealand.

As soon as 10 days after due date of payment. The laws vary from one State to another, and a finance company will not usually reposses on day 11, but they legally can. More often it's 30 days, or until you owe two payments. You may get your car back if you pay all late payments, late charges, and the remaining balance owed. If the finance company sells the car and gets more than what is owed, they must reimburse you the difference. They can also reposses if you let your insurance lapse. Protecting their interest.

This would be financing your premium. Some companies have payments plans and sometimes you go through a premium finance company. Premium finance companies are generally used for larger premiums like commercial accounts.

Yes, Almost every Auto finance note contains language that requires you to maintain "Full Coverage" Auto Insurance for the term of your finance note. It just part of the contract you agree and sign when you financed the car. This is to protect the finance company from a loss of the vehicle. Remember the finance company still owns the vehicle until you pay it off. Failure to comply with the insurance requirements of the finance note you signed constitutes a default on your loan subjecting the borrower and the vehicle to whatever remedies are at the finance companies disposal, including repossession. If you act quickly, Are not behind on your car payments, Get your full coverage insurance in place and pay the towing fees, Call the company and be nice with them and assure them that you understand your obligations with apologies for any oversight, Most finance companies will let you take the vehicle back and continue paying your note.

It can depend on that state's laws but most times, yes, because you signed a finance agreement for a certain amount. Just like if you total your vehicle and you owe more than it totals out for, you will most likely still owe the remaining amount.

It covers the finance company. nobody else.

No. Auto Insurance provides coverage for accidental losses wheel operating your vehicle. To cover the finance note of a vehicle you would have to have purchased credit or finance note insurance offered to you by the dealership at the time of purchase.

My company doe's home improvements.Need a finance company to finance

It's a life insurance company called Pacific Life. http://www.pacificlife.com/

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Yes they can add coverage to protect the finance company. It is usually more expensive than having insurance from an agent.

One can finance his or her medical expenses by getting insurance. AllinaHealth is just one company that can help one finance his or her medical expenses.


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