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In California, anyway, you need full insurance coverage on a car the whole time it is financed. After its paid off, you can drop a bunch of the coverage and just carry liability.

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17y ago

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In the state of Texas can the lender repo your vehicle if your auto insurance lasped for 4 months you was told you had to pay full insurance coverage or vehicle will be repoed can they?

Yes they can repo if they catch the insurance lapse. Most financed vehicles have a Full Coverage clause that you signed and agreed to when you contracted to finance the vehicle.


If your car is financed through a dealer do you have to have full coverage insurance?

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Yes, not having full coverage insurance on a financed vehicle can be a reason for repossession. Lenders typically require borrowers to maintain full coverage to protect their investment in the vehicle. If the borrower fails to do so, the lender may consider it a breach of the loan agreement, which can lead to repossession. Always check the specific terms of the financing agreement for details.


Do you need insurance on a financed car in NJ?

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Do i need full coverage on a financed vehicle that is garaged and i do not intend to drive?

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What are the minimum insurance requirements on a newly financed car in California?

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