Can you keep buying insurance for a repossessed car and drive legally?

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IF you mean a car that is being searched for by the lender, YES. You sure can RISK spending the money one day for ins. and watching it be towed away the next. Its your gamble. If you just want insurance to drive any car, I once read that you can get insurance without a car. Ask an insurance agent.
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Can you get non-driving auto insurance if you are keeping your car but will not be driving it for 6 months to a year?

Yes. Some carriers sell this type of coverage more on a seasonal basis (for instance, you park your car at a summer residence, don't use it for nine months out of the year, but still need coverage). Contact your agent and/or carrier directly to find out more information. The premium for this type of ( Full Answer )

What is legal during a car repossession?

Any activity that results in the recovery of the wanted vehicle is legal, provided the peace is maintained and there is a perfected lien-holder, and that lien-holder has issued a legal order for repossession. There are minor specifics for each state, and some for specific metropolitan areas. Thes ( Full Answer )

Where can you buy repossessed cars?

Here is a variety of advice: . If I were you I would check out your county for repossessions to be sold they generally sale for 2/3 of the loan value. . I would NOT buy a car that has been repoed. Simple logic tells me that the driver was NOT doing ANY repairs or even oil changes, before it got ( Full Answer )

How long should you keep insurance on a car that was repossessed?

IF you plan on getting it back, dont drop it. If you're NOT getting it back, drop ASAP. The lender has coverage. Good answer. If you can't afford to get the car back, drop the insurance. You should not have coverage on the vehicle that is not longer in your possession. Let the lender assume the res ( Full Answer )

What happens if someone keeps driving a car when the lease is up and it was already in repossession?

%DETAILS% Cindy Lynn, what is a "normal" repo? Whats "normal" about someone wanting to drive a car and NOT pay for it? Can a warrant be placed? In a few states, yes. You should check out your definition of "NORMAL". I think yours must include "gambler", "wishful thinker" or other terms. Good Luck C ( Full Answer )

How do you buy a repossessed car?

If you are trying to buy a specific car, you can contact the bankor whoever holds the lien on the vehicle for more information. Youmay also start online with a free directory search for banks andother financial institutions who are selling repossessed cars. There are also other alternatives. You ca ( Full Answer )

Can your car get repossessed for not paying your insurance?

Answer . IF your loan contract specifies that you must maintain insurance covering the vehicle, the answer is YES.. Answer . Just an echo of the previous answer, most major lenders require that the vehicle maintain full coverage insurance. It states in your finance agreement that the vehicle ( Full Answer )

If you are an insured driver and you drive someone elses car that is not insured are you legally insured while driving that car?

Let's refine the question a bit: if you are an "insured driver", by that term I mean someone who is named in an auto insurance policy as insured. Under that condition, you are insured even if the vehicle you are driving is not covered by a policy. An exception (we lawyers love exceptions) is if th ( Full Answer )

Can you buy another car after a repossession?

Answer . \nYes, you can. My father did this. The thing is, you get a really high interest rate. You could try to have someone co-sign to get the interest rate down a little.. Answer . Yes but why would you want too??save your money and buy a used car outright.Then\nthere are no car payment ( Full Answer )

When your car is repossessed when do you cancel your insurance coverage?

The same day that you determine you aren't getting it back. It would be wise to wait until then because if the bank repo'd it to kinda just remind you that being 3 payments behind isn't a good thing, you might get it back and then you don't have to go through the whole insurance application process ( Full Answer )

Can your car be repossessed if you don't have insurance?

Insurance is there to protect you while you drive. Your loanfrom the bank lets you keep the car. Although, most banks requireyou to have insurance before lending you money in the firstplace. . If you wanted to know whether your car can be taken away just fornot having insurance, then no it can't. J ( Full Answer )

How do you get a car back after repossession for no insurance?

Answer . Since you have violated the terms of the loan, there is no obligation for the lending institution to reinstate the loan. So you can pay off the loan in full but if they don't want to sell you the vehicle, they don't have to. It's theirs now. They get to dispose of it as they feel appropr ( Full Answer )

Can a car get repossess because of no insurance?

Answer . \nNo.\nMost (99.9%) of the lenders require you to maintain Comp.& collision Ins. on the vehicle the money was loaned for and secured by.\nIf you fail to do this the lender can, and in most cases, will put this Ins. on the vehicle and you will be charged. The charge for Ins. placed on th ( Full Answer )

What is the legal process for repossessing a car?

Car Repossession . Well, there's not much to it. The car loan company has already decided to write your loan off, so one day a tow truck will appear in the driveway to take the car away. It will then go to an auction and the loan company will get what they can for it.. You are all done with this ( Full Answer )

Can a car be repossessed due to no insurance?

Answer . If the car is leased or has a lien on it (meaning you have a loan out on it) it CAN be repossessed for letting the insurance lapse on it. Cars that have liens on them are required to carry full coverage insurance on them by the bank. This is because until you pay off the loan the bank t ( Full Answer )

If I am uninsured and I want to drive my farther insured car can I still drive it legally?

Answer . It depends on our father's insurance. My children may drive my car because my insurance covers anyone I give permission to drive my car (they have have a valid license). However, my ex-wife's policy does not allow it - by not having this option she actually lowers her premium. This can v ( Full Answer )

If you drive a car with no insurance are you legally intitled to drive it on your car insurance?

That depends, because there are many different insurance coverages. You'll need to check your own car insurance policy and see if it covers you AND any car that you are driving. If you can't find that information anywhere in the policy then check with your insurance broker and ask.. Sorry, but with ( Full Answer )

What if your car repossessed with gap insurance?

The gap insurance is part of your auto loan so I am not sure what your question is. Gap insurance covers your car if you total it and the fair market value for your car is below what you owe. If your car gets reposessed, you still owe the lender. Actually, the cost of the gap insurance is rolled in ( Full Answer )

What is the catch in buying repossessed cars?

The biggest turn-off when buying Repossessed Car: As you already know, Repossessed Car Auction is a great way to buy your new car or other types of vehicle (boat repo auction, RV repo auction, ...); however, it seems almost too good to be true, because the price is very low. The catch lies in the ( Full Answer )

Where can you buy repossessed cars from?

Repossessed cars can be purchased directly from Banks and Credit Unions. Many larger Banks and Credit Unions will simply send the vehicles off to "dealer only" auctions, but most of the smaller Banks and Credit Unions will offer these vehicles for sale on their websites to the general public. If you ( Full Answer )

Is a car repossession legal?

It is legal to reposes a vehicle under most conditions. Why would you even think that a repossession would not be legal? Pay the bill - and if you can't timely pay the bill talk to the people you owe; they didn't give you that vehicle for free. It is legal to repossess a vehicle. I have been i ( Full Answer )

If your friend has no insurance for his car can you drive it legally on your insurance?

No. The only way you could possibly be covered under your own insurance is if you purchase the car and have a bill of sale in your name and your State has provisions for newly acquired vehicles. You would also have to be driving the vehicle with a copy of your registration and your license plate. Al ( Full Answer )

Does insurance help with rental when car repossessed?

I've never heard of an insurance policy that covers repossession. Remember, the car doesn't actually belong to you -- it was repossessed because you failed to honor the contract of repayment of the loan to buy it.

Does buying a repossessed vehicle raise your car insurance?

In this state buying a repossessed vehicle is no different from buying any other vehicle as far as insurance is concerned. The insurance agent checks over the car, takes pictures, checks the odometer, and quotes the rate just like any other used car. Of course if you have one car and you purchase a ( Full Answer )

Is it legal to drive a car that is not insured on your insurance?

It is illegal to drive a car that is not insured for at least third party cover (i.e. if you hit someone then they - but not you - will get paid out). Therefore if the car is not covered on an insurance policy that YOU have then to drive it you would need to be covered on someone else's insurance. S ( Full Answer )

Is it legal to drive a car that is supposed to be repossessed?

No. Just know that you may stop somewhere to go shopping and find that you are walking home. Also, you should know that if you were to surrender it, there would be less in repo fees and you are more likely to keep any personal belongings that are in your vehicle.

Is it legal to have a car insured in a different state than where you are driving it?

There are exceptions! If you are traveling, this is allowed within most adjoining states and countries. A good example exception is Mexico and USA If you are operating a commercial vehicle the rules can and are different. Each commercial vehicle is insured to be operated in certain places only. L ( Full Answer )

Lien holders filed a claim on my insurance after they repossessed my car- They told the insurance company that I was in an accident- The truth is I never was. Is this legal?

What they (probably) told your insurance company is that there was damage to the vehicle when they repossessed it. You should get in touch with the company or your agent and find out how extensive and what kind of damage the lienholder reported. You see, the lienholder might have reported damage you ( Full Answer )

Where can you buy car insurance for a Driving Instructor?

Although most driving schools provide additional insurance for their instructors, you can find car insurance for instruction at most places where you would buy car insurance. Look into GEICO, Prudential and Esurance for more details.

Can finance company repossess car for no insurance?

Absolutely. The finance agreement that you sign when you purchase a vehicle states that you agree to carry full coverage on the vehicle and to list them as the leinholder. By them being listed as leinholder they get notified of any cancellations, late notices, and renewals on the policy. It also giv ( Full Answer )

Can you legally drive a car after buying it before you get it registered or insured?

It depends on your local law, but generally speaking you get a temporary registration from the dealer. You will probably have to show proof of insurance to get your permanent registration. If you already have insurance, usually your new car will be automatically be covered for some short period of t ( Full Answer )

Can your car be repossessed due to lack of insurance?

No, but it can be impounded by the police. Lack of insurance is a crime, generally a misdemeanor, but if the degree is severe enough the police can impound it as evidence in a criminal case. To get your car back, you would need to provide proof of insurance, a valid driver's license for the owner of ( Full Answer )

Can a car only get repossessed for no insurance?

Absolutely. When you purchase and finance a vehicle you sign a legally binding contract. Perhaps you should read what you sign. The contract states that you agree to carry insurance that includes comprehensive and collision with a maximum deductible of usually $500. If you let your insurance cancel ( Full Answer )