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Is it possible to get a car loan to get a car but put the car as immobile so you won't have to pay full insurance on the car?
Wiki User
∙ 19y ago
NO, all insurance companies require you to carry insurance on a vehicle with a lien. What if it catches on fire or is stolen.
Wiki User
∙ 19y ago
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Minimum auto insurance on an auto loan?
full coverage
Why would one need loan payment insurance?
Loan payment insurance may cover one for a variety of unplanned events. These may include loss of job, ill health, death or changes to financial situations. Loan payment insurance may cover either the interest on a loan, for a set period, or the loan payment in full.
Can a car be reposed for lack of insurance in ga'?
YOU NEED TO CHECK YOUR SALES CONTRACT / LOAN AGREEMENT. FOR THE MOST PART IT IS REQUIRED THAT YOU MAINTAIN FULL COVERAGE INSURANCE FOR THE TERM OF THE LOAN. THE ANSWER IS YES, A VEHICLE CAN BE REPO'D FOR LACK OF INSURANCE.
If I buy a new car with a loan, do I have to have liability auto insurance in New York State?
You are required to have liability insurance on any vehicle. The lender may require you to have full coverage as a loan condition.
What happens if your car is stolen and you still owe on the loan?
If the vehicle is/was encumbered by the original loan then it should be insured. If there is no insurance or the insurance does not cover theft the purchaser is still responsible for the full amount of the loan. The issue of the vehicle being stolen does not affect the legal responsibility of the buyer to honor the loan contract.
What happens to your title loan if your vehicle is stolen and wrecked?
Since you have a loan you should be required by the lender to have full coverage insurance which will pay you the value of the vehicle. With out insurance you are still responsible for repaying the loan no matter what happens to your vehicle. It is not the lenders fault your car was stolen and wrecked...
Learners permit insurance loan?
Do not know what you mean by 'insurance loan'?
What do you do if your motorcycle is totaled in an accident with no insurance but you still owe on the bike?
you still owe on the motorcycle. that's why banks require full coverage at the time of the loan-so that they will get their money. Since there is no insurance company, YOU are responsible for paying off the loan.
If you have full coverage and your vehicle get stolen and the insurance would pay the blue book value do you have to pay for the rest of the loan?
You are responsible for the difference in what the car is worth,(Insurance Payment) and the balance of the loan. Insist the insurance pay you the NADA retail value of the car, not the Blue Book value.
If I am financing a car and is the only person on the loan. but my brother drives it and he has full insurance on the car. so the insurance is under his name. can the finance company repossess my car?
Yes
How would one get a loan for insurance?
One can get a loan for life insurance from a few locations. There are a few banks that will allow you to take out a loan using your life insurance payout as collateral.
Where can one get good personal loan insurance?
Usually you can get a personal loan insurance from the bank you are taking the loan from, or from an insurance company. There are also several website throughout the web, where you can get loan insurance.
