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If your car was stolen and you have already bought a new vehicle will you still owe on it if you report it to the bank?


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Wiki User
2015-07-16 19:23:29
2015-07-16 19:23:29

WHEN your car was stolen or how many other cars you have bought doesnt really matter to the bank. You will pay the balance due on the contract one way or the other. good Luck

Having the car stolen doesn't matter. Loans are issued by banks--not insurance companies.

You are responsible for all loans to the penny. In your case, your only recourse is if you had comprehensive insurance...

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An APB, more commonly called a BOLO, will be issued automatically when you report the vehicle stolen. If you have already done that, then there is nothing more you can, or need to, do. If the vehicle isn't stolen (or of interest), an APB will not be issued.

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If it is really stolen by someone and not simply in possession of the lendee. The owner of the vehicle is the only one who can report a vehicle stolen, not the lender. But if the car is taken to the tow companys and yard and is now "missing" then the tow company can report the missing car since they had it in their possession. The first place the police will come to though is your house. The police will not come to your house it is a civil matter.The tow company cannot report the vehicle stolen it is not their vehicle to report stolen.

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He will report it as a stolen vehicle.

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You call you local non-emergency number. Police if you live in the city limits, County Sherrif if you live in a rural area. The Dispatcher will direct your call, Just say " I want to report a stolen vehicle. Repos are NOT stolen.


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