Drivers are required to have insurance. If you wreck your vehicle, the insurance company will pay for it. If you are driving without insurance in a vehicle that is not paid for, you still are obligated to repay the money you borrowed to buy the car. It is not the bank's fault that you wrecked the vehicle.
You probably would.
Then they will repossess the wrecked vehicle, sell it for what they can get, apply that to the loan balance, and you will be responsible for the balance on the loan. They will sue you in court to get it and will win. Now if you continue to make the loan payments, then none of this will happen. Did you not have insurance on this vehicle?
No,the vehicle will not be covered.
No, The vehicle owner chose to accept the risk associated with not having collision coverage. You can not use someone elses policy to cover the owners collision loss.
nah mate
If driving a company truck when not at work you are reliable for everything. If you wreck you could get fired and have to pay for damages.
No... a vehicle which has a lien against it isn't paid off.
The cosigner has equal right to the vehicle whether it is paid off or not.
The cosigner has equal right to the vehicle whether it is paid off or not.
yes
Normally the term wreck is used to describe a situation when two objects, at least one being a vehicle, try to occupy the same space at the same time, also known as an automobile accident. "Wreck" can be when two vehicles collide with each other or if one vehicle collides with another object such as a tree, ditch, house, telephone pole, etc.
You need to get A attorney if you cannot get an amount that makes you happy. DO NOT ACCEPT ANY MONEY OR COMPENSATION from the insurance Co. until you are happy. The job of the ins. adjuster is to give you as little as possible. Tell them what you want, and do not back down. Do not threaten to sue, Just tell them you will retain legal council.