hey guys if u making payments on a car (financed)
is it necessary to keep insurance on the car,

or can u have the car garaged and
just make the payments?

i wanna know, thanks guys

 

Must have full coverage... comprehensive.

If the bank gets notice from your insurer that you have no coverage, they'll put "force-placed" insurance on your ride(big fuckin bucks!!!). It's cheaper just to maintain your own insurance, not to mention, "forced-place" does not include liability which most states require anyhow.

 

they work that in your payments or something
how does that work

 

They add the shiit on to your monthy nut...but it's way expensive.

I'm a credit officer in a bank. I can't tell you how many times I've had to explain to someone why their payoff is $2-3K more than they should owe because of forced insurance.

 

hey chris thanx for your help man,
i really appreciate it,

so they add that to the amount that u need to payoff?
is it the same in jersey as delaware?

 

Jersey is probably a ton more, as much as you guys pay in the first place.

 

get this
they want 2,300 in cash for liability
and 4000 in full coverage

wanna move here?
lol

 

WoW!!!

By a moped & move to DE.

 

Well..if you live with your parents or can have the car's insurance on their name, i'd suggest that. That's what i did. I just turned 19, and we have 3 cars in one policy.

After putting me and the new car in, they wanted about 1500 for six months on full coverage with me being the driver. Our ins agent is tight, and he had the company switch drivers. Basically my dad is now the "driver" of my car, and im the driver of his.

Under his name, he's paying 800 for full coverage for six months, and i'm still paying like 400 just for liability on his car. So basically, i'm still having to pay $200 a month on insurance, plus $150 for car note.. thats better than paying $350+ on ins plus my car note.

The bank really doesn't care if the car isn't insured under ur name. As long as the car is fully insured, and since the loan is under your name, your also insured. Anyway, good luck to you.

 

thanks man this is driving me crazy,
they dont want you to drive out here
man,

i dont know what to do.

 

hey guys if u dont got insurance on the car
they can t reposses it for that right?

as long as your making your payments

 

they wont reposess it, but they'll add their insurance on there...which will be a lot more expensive!

 

They can repossess it.

Check the fine print of the leasing agreement before taking action.

 

Well if they add the forced insurance to your car payment and you can't make the monthly payments, they will reposess the vehicle. If you can't make your insurance payments then how are you going to make both your car and insurance payments? See what I'm saying?

I'm in the military and I got deployed for 6 months and here's what I did. When I was under Geico, you can prove to them that your car is in storage (mine was in the parking lot) and won't be driven, then your insurance company will only make you pay for...dammit I forgot what it's called. You have to pay your regular monthly premium's but they refund a certain percentage back to you as soon as you start driving it again. In other words when I was gone for 6 months I really only ended up paying 2 months of full insurance.

 

CLStyle I know what your talkin about man this shit is killin me right now i'm payin 4,300 a year for my car. I wanted to just put it in a garage till i pay it off but there goes that idea.

 

down here in florida, if u want to store your vehicle, you can have it uninsured, but u also must have it unregistered.....so basically you have to go turn your tags in, and if u ever want to drive it again, u have to go thru the whole registration process again, its a pain in the ass......insurance is a freakin rip-off anyway....last year when i was kinda broke (read-no job) i just let my insurance run out and i didnt have any for over 14 months, then i got insurance again cuz my registration was about to expire, and in order to renew your tags u gotta show proof of insurance....needless to say...i was driving very careful!

 

shit man this sucks,
iam gonna be making the payments,
i have no idea what they are gonna do,

iam gonna see if i can just make the payments and turn in my
plates and not drive it at all,

i can make insurance payments
but the shit is they want all that money upfront!!!!!!!!!!!
4200 dollars

if honda finance works it into my payments
thats better than paying 4,200 up front

what u guys think
(iam thinkin with the money i save, i can spend that on
mods!) RIGHT