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The insurance should pay the loan (if your lucky it'll pay all of it) If there was no insurance then you still have to pay for the loan. I had a car stolen and I had to keep paying for it until the insurance finally paid it off and I was left with $50 in the end to get a new car with.
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∙ 18y ago
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What happens if your car gets stolen and you have no insurance and the car is on finance?
The finance company will want to be paid in full if they find out it's stolen. The responsibility to satisfy the loan falls on you seeing that you failed to maintain insurance.
What happens if don't pay the car loan?
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.
What happens if you stop paying your car loan?
Repo.......homo
What can you do if husband took car and car loan is under your name?
Call the bank. Explain the situation. Try to get the loan transferred into his name. If he doesn't co-opperate, call the cops and report it as stolen.
Can you get a loan modification on your car?
Car loan modification is one such option to avoid repossession of your car. So what happens here.... the service provider(loan modifier) studies your loan history and they directly deal with the lender and they modify your car loan .... meaning they help you in Reducing payments and keep your car, boat, SUV or truck.
What happens to balance on car title loan when car is stolen?
Every car obtained on loan definitely is an insured one.One gives loan on insurance basis only.
If your car is up for repo but is stolen before you return your car what happens?
When your car is 'stolen", you file a stolen car report with the cops. Then your INSURANCE will pay off the loan. The lender will deal with the insurance co. and alls well. You dont have a car, but no payments either. BTW, the insurance co. HAS to be sure its stolen or they wont pay the loan off.
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...
If you loan your car and it is not returned is it stolen?
it is if you report it to the police as stolen
What happens if your car gets stolen and you have no insurance and the car is on finance?
The finance company will want to be paid in full if they find out it's stolen. The responsibility to satisfy the loan falls on you seeing that you failed to maintain insurance.
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.
Can a title loan company call the car in stolen?
No they can not!
What happens if you pull a stolen car and you did not know it was stolen?
vbhvghbn
What happens if your car is stolen?
If your car is stolen you should automatically have reported and what time it had gone missing.
What happens if your car loan is illegal?
then they take your car and repo it.
What happens if you hide your car from repo?
It will be reported stolen.
What happens if don't pay the car loan?
If you fail to pay your car loan the bank can repossses your car. It also goes on your credit rating that you defaulted on a loan.
