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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...

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โˆ™ 2012-09-21 16:19:10
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Q: What happens to your title loan if your vehicle is stolen and wrecked?
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Related questions

What is a salvage ticket?

its when 70% of a vehicle has either been damaged or wrecked, and insurance has classified it as a total loss. in some rare cases the salvage title could be issued to a stolen vehicle

How do you get a title for a vehicle if you buy a car without one?

Call local insurance Companies that do a title bond Buying a car without a title is very foolish. You may have a vehicle that was stolen. You may have a vehicle that was totally wrecked and rebuilt. You may be in deep on this car. I suggest you contact the previous owner and demand a title or a refund of your money.

Can you title a salvaged vehicle in Illinois?

Yes you can but the title will say salvage. A salvage title in Illinois means it has been stolen or wrecked and has not yet been inspected or otherwise cleared by the state. You cannot drive or as a private party, own a salvage vehicle. If you do own one, you must contact a Illinois Secretary of State Police Vehicle Inspection Station to start the process to obtain a rebuilt title.

Does a salvaged title indicate that the car was stolen?

It means that the car has been wrecked and rebuilt. The following eleven states also use Salvage titles to identify stolen vehicles - AZ, FL, GA, IL, MD, MN, NJ, NM, NY, OK and OR. So, in these states a "Salvaged" Title could mean it was wrecked and totalled or it could also mean that it was just stolen. Also, to clarify, no damage at all has to ocur while being stolen for it to receive the "Salvaged" title. Be leery though. Sellers could use the "stolen" excuse for a title to have Salvaged on it, but in reality it was really totalled.

If a vehicle is wrecked then totaled and it has a lost title will this affect the insurance claim?

Totaled vehicles which have been rebuilt generally have a "salvaged vehicle" title, or whatever it's called in your state. Vehicles with a salvaged vehicle title are by definition, not as valuable as the same vehicle with a clean title. If the vehicle is subsequently in another collision, the insurance company will not pay as much since the loss was not as great. Insurance companies only need to pay you for the actual value of the vehicle.

Can a title be transfeered if the seller has lost the title?

You must have a title to sell a vehicle if the new owner plans to title the vehicle. If you are selling the car for "parts only", and not planning to put the car back on the road, then you can sell it with a bill of sale only. If they want to title the vehicle, you need to go to your local DMV and apply for a lost/stolen title. Once you get the duplicate title, then you can sell the vehicle.

Can I get a title for a vehicle that is given to me from a stranger. Someone is giving away a car but they say there is no title?

The first thing you need to do is call your local police department and give them the vin and ask them if the vehicle is stolen. You dont want to get caught trying to get a title for a stolen vehicle. Why would someone just give a car away when they can take it to a salvage yard and get a couple hundred bucks for it.

Can a person who holds title to a vehicle have it repossessed from someone driving it as a loaner?

Report it stolen.

What if there is no title to a vehicle?

Then you must have it inspected by the Bureau of Motor Vehicles and let them give you a title. IF the car is stolen then you are going to be in a lot of trouble.

How can you get a title for a car that was purchased in Ohio without one and you are in TN.?

It was a mistake to purchase a vehicle in Ohio that did not come with a title. Ohio vehicle owners can easily replace lost titles. Since this wasn't done, it can only be assumed that you purchased a vehicle that may have been stolen in some way (stolen & reported, stolen & not reported, or a self assembled car that was never inspected by the Ohio Highway Patrol)

What is the title of this picture worksheet D 60?

wrecked angle with one square foot

Who is on the check from the insurance when vehicle is totaled?

Whomever the car is titled to. You will have to sign the title over to the insurance company since they essentially bought the wrecked car from you.

Can you trade your truck if you pawned title?

Not until you get your title back. Pay off your loan, get your title back, then you're free to do with it what you will. And if you don't pay your loan to get your title back, the pawn broker gets ownership of that vehicle, and will report it stolen if you refuse to turn over your vehicle to them.

How do you go about buying a truck that has been reported stolen?

You don't. Purchasing such a vehicle could result in you being charged with receiving stolen property. If you are purchasing an abandonded previously stolen vehicle from a police auction, they will provide a clear title. Otherwise, steer clear of such transactions.

Can title for auto be changed to another?

no, titles to cars stay with the vehicle not the owner. if a vehicle doesn't have a title it either sketchy, maybe stolen, or worth less than a 1000.00 bucks, which can then be retitled or you just keep the bill of sale as a title

How can I get possession my car from co signer?

If your name is listed on the Title then you have all rights to posses the vehicle. The loan instrument doe not construe ownership, the title does. Again if your name is on the title and registration you can Take the vehicle or better yet depending on your situation, call the police (with title in hand) and report the vehicle stolen, this can be a very powerful threat to who ever has the vehicle.

What is the title of this picture to D-60?

wrecked angle with a square foot

How do you go about getting a title for a vehicle that was bought from a salvage yard that was going out of business if the salvage yard didn't have the title to the vehicle you bought?

Go to the state Motor Vehicle office, where you would normally register a vehicle. There may be extra steps to take to get title for a salvaged vehicle. Don't buy cars without getting a title. EVER. If the car was stolen you may have to return it.

Do you have to pay for replacement title if your car is stolen?

Normally you have to. Never keep the title in the vehicle, keep it at home in a safe place or in a bank deposit box.

What can you do if a car you purchased turned out to be listed as a stolen vehicle at the time of the sale?

Did you get a TITLE to the "stolen" car? If not, the you sorta assumed the risks. Was it actually stolen at the time of sale or just not removed from the list after being recovered?

Can a salvage title be due to theft?

Assuming that the vehicle was stolen and not recovered for more than 6 months, then yes you can have a salvage title on a stolen automobile because the insurance company would write it off as a total loss after six months just as if it was wrecked. My truck currently has a rebuilt title due to this exact reason. It was not recovered for 8 months and by that time the insurance company had written it off. That being the case I got a heck of a deal on a nearly new truck and while the resale value will be less, the price I paid for it was a lot less than a clean title would have been so it averages out.

How old does a car got to be for you not to have a title for it?

What makes you think you don't need a title for it ? Is this vehicle stolen or something? All vehicles need a title if they are to be driven on the street, wake up and smell the coffee!

What is a paper vehicle?

It is a vehicle that doesn't actually exist, but is insured under a fake title so that it can later be reported stolen. This is done in a type of insurance scam called a false vehicle scheme.

What happens if a dealer does not send the title to the owner of a vehicle?

It normally take 30-45 days to get a title. I you financed the vehicle, you wont get the title, the lienholder will get it and send it to you once the loan is paid in full.

Can a dealer repo a vehicle that wrecked and not paid off?

Yup ... until the debt is paid, the dealer owns the car outright - they have the title afterall which prevents the car from being sold.