The repo man will not care if your car has insurance or not. If you haven't been paying for your car, the finance company or bank will take their car back.
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∙ 14y agono, but it is recommended. the repo co has insurance and is bonded for this type of situation. you will have to provide proof of repo to your insurance co.
Yes, If your auto finance contract requires you to have insurance on the vehicle and you fail to meet that obligation they can certainly repo the car for violation of your contract terms.
If you give up your car, cancel your insurance, as you don't need insurance if you don't own a car. If you are talking about a voluntary repossession, the answer, is possibly, on another car. A repo is a repo, no matter if it is voluntary or not. Your credit will be damaged for 7 years, and this may effect you insurance rates. Don't do it or let it happen. Contact the lender and work something out if possible.
Insurance has nothing to do with it. Read the contract you signed when you took out the loan.
A repo guy is likely to say anything to get your car. If he's looking for it, you owe the money and he gets to take the car. Hiding it in the garage will keep him at bay for only a short time. Whether or not you have homeowner's insurance does not factor into the equation.
They might. The liability of the person who has hid the car will be the same.
If the contract is legal and binding then repo the car. You can hire a repo company.
YES, if you are in DEFAULT of the contract (NO ins. coverage) they can repo.
Not Unless you can prove that you already had the required insurance.AnswerNo. as soon as you have no insurance on a leased vehicle, the lein holder has the legal right to repo it.
If your lien holder repo's your vehicle, they can file a claim against your insurance for damage to the vehicle. The repo company itself would have no claim, because it's not their vehicle.
Will i be able to purchase another car later on if my car is repo
can my car be repo 38 day's in default?