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What else can I help you with?
Does a car insurance cover pay off on car in case of death?
Unless the person died while wrecking the car, no. I believe you are looking for a type of life insurance that pays the loan balance upon death of the owner of the loan and vehicle. This is mortgage life insurance.
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
Does gap insurance cover a death?
No. If a car is determined to be a total loss as a result of a collision, GAP insurance pays the difference between what the collision coverage pays as the actual cash value of the car and the outstanding loan balance.
How does life insurance on a car loan work?
Life insurance on a car loan works by providing coverage that pays off the remaining balance of the loan if the borrower dies before the loan is fully repaid. This ensures that the borrower's loved ones are not burdened with the debt in the event of their death.
One person car loan and death?
Heirs pay loan or bank takes car.
If your car was totaled will the check come in your name if there is a lien on it and you released the car to the insurance company?
Loan company gets paid first if you owe more then the insurancwe pays you owe the balance, if insurance pays more then loan you get the differance.
Who pays for a loan on a car if both husband and wife dies?
If the heirs at law want to keep the car, they must pay off the loan. Otherwise, the car would be repossessed by the lender.
Does the lender pay the loan off if the car is stolen while in his possession after a repossession?
NO, unless the ins. on the car pays off more than you owe.The amount the ins. pays would be the the equivilent to the auction price in the balance due on the loan.
What is auto loan death insurance and how does it work?
Auto loan death insurance is a type of insurance that pays off the remaining balance of a person's auto loan if they die before the loan is fully repaid. This insurance provides financial protection to the borrower's family or estate in the event of their death, ensuring that they are not burdened with the loan debt.
If you are the primary on the car note for an auto loan you got with someone else who pays when the car is repossessed?
As the primary, you are the first one they go after.
Can an heir pay off a deceased persons car loan How do you prove you are the beneficiary?
The estate pays off the car loan. Hopefully, the person who died made you the executor. If so, a death certificate taken to DMV may help you change the title. You would also bring along the paid receipt to remove the lien.
What options are available for car loan death insurance?
Car loan death insurance options typically include credit life insurance, credit disability insurance, and guaranteed asset protection (GAP) insurance. These policies can help cover the outstanding balance of a car loan in the event of the borrower's death or disability.
