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The loan on the original car was secured by the title of the vehicle. When it was stolen, your insurance company should have paid the value of the vehicle first to the lender then any remaining money should go to the owner. If the owner is "upside-down" in the vehicle he/she will be required to pay off the remainder of the note at that time or make arrangements to pay it off. No, the loan cannot be applied to another vehicle. A new loan must be negotiated.

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โˆ™ 2005-09-13 16:29:36
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Q: If your car is stolen can the loan still continue and a new car be bought with the insurance money?
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Related questions

If a car you bought is found to be stolen should your insurance pay for it?

No, the seller is obligated to provide clean title. If the dealer has sold a stolen car, you should be able to get all of your money back.


Is money stolen from an ATM covered by home owners insurance?

No, Money stolen from your Financial Institution is covered by your Financial Institution


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What's vacation insurance and why do I need it?

Vacation insurance can be very helpful to people, especially if you are going on a longer vacation. This type of insurance will help you if something of yours get ruined on vacation, or if you lose your money or get your money stolen.


Is stolen money covered in renters insurance?

No, cash is not covered, same on homeowners policy, not covered.


Can money stolen through ATM be claimed under travel insurance?

it depends on the agency where you have got the policy. Check it up in your insurance company.


If your car gets stolen and you have insurance do you get a new one?

if your car get stolen you should immediately call the police to search for it. And you don;t get a new but you might get money back.


Does home owners insurance cover money stolen from your house?

It will likely cover up to $200. Good Luck.


Do you get a check if you are financing the car when it was stolen?

You will still owe the money even if stolen. Your insurance carrier may give you a check for the difference of what you owe, minus the deductible and the fair market value. It never is equal to what the car was worth though. It is better to keep the car from being stolen. If you have bought the car from a car dealer they will be reimburse you however seek advice from your local citizens advice bureau. If the car was bought privately you will still be liable for the repayments however you should seek legal advice.


How much money has to be stolen in the state of Minnesota?

There is no quota for stolen money in Minnesota. All citizens prefer that none of their money will be stolen.


My car was stolen and the insurance company paid me but then the police recovered the car?

keep the money and find another car, or give back the money and get your recovered car.


Where can viatical insurance be purchased?

Viatical insurance does not exist. Viatical settlements can be bought from most insurance companies who deal with insurance. It is a settlement buying the life insurance so that an immediate sum of money is made available as a lump sum.


What happens the person when your money order was stolen?

A money order comes with 2 parts. The top part you send to the company/person that you are sending the money. The second part is your receipt and you should be able to take that to the place where you bought the money order and get a new one. Look at the fine print on your receipt to see what the process is for a lost/stolen money order.


Will homeowners insurance cover money stolen at assisted living?

You might want to check with your insurance agent, but cash, stocks, bonds and bullion are typically not covered under your homeowners insurance policy unless specifically scheduled.


What is the legal situation if I buy a computer from an organisation and it is stolen before collection?

If it was stolen form their premises then they should refund your money. If it was stolen during shipment to you, it depends on the terms of the agreement you made regarding shipment - (there may be recourse to the shipping company's insurance).


What is the definition of term life insurance?

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How would bankruptcy affect a license to sell insurance?

Bankruptcy would not affect your license to sell insurance in any way. It does not affect your ability to continue to make money.


Bought stolen phone off eBay didnt know it was stolen didnt like it then i sold it buyer says it is stolen he gave it to police and got his money from PayPal what do i do Please help?

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How long does it take to get insurance money for a stolen car and the car was found?

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You're out of luck--you'll need to come up with the money yourself to get a new car, or a bike.


Can you sell your body to since for cash be-four you die?

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What happens if you buy a stolen motorcycle from a dealer?

You get charged with possession of a stolen vehicle I believe. If you knew it was stolen when you bought it then you are handling stolen goods (or a similarly fragrant nosegay of legalspeak, depending where you live) and the police will be keeping a close eye on you and they will be very interested in you. If you did not know it was stolen, then the motorcycle will be confiscated and searched so they can try and find out who had stolen it and where it came from. How you then get your money back, if at all, depends again on where you live.


Can a creditor seize your checking account on a secure loan if the property has been stolen?

There are situations where this is possible. The one that stands out is this: Your car was stolen. You stopped making payments on it thinking, "I don't have it anymore, so I don't need to pay for it." You turned in the report to the insurance company and they paid out, but you did not pay the lender off. Or, you did not have insurance or failed to turn in the claim, so received no money. In the mean time, the lender puts the vehicle up for repossession because you have defaulted. When you are contacted you tell the lender or repo agency the car was stolen, and continue thinking it is not your problem. The lender does not really want the car, they want the money you contracted to pay, so they sue you. You continue to refuse to pay, so the lender attaches your checking account. Yes, they can do this.


Why is my insurance company telling me my stolen vehicle is under investigation?

It's standard procedure for an insurance company to investigate any and all claims made by it clients to insure any fraudulent activity is not occurring. For example they want to make sure that your car was 'legitimately stolen" and that it is not been illegitimately asked to be taken or possibly hidden just to receive the insurance money.