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If your loan agreement requires you to carry ins (most do) and you drop it, then you will be in default of the contract. You better make SURE the payments get to the lender PROMPTLY so they dont take a second look at your record when the ins. co. tells them you dropped the ins.

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Q: Can you stop paying car insurance on a car with blown motor and continue to pay off loan to avoid voluntary repossession in New York?
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If you call in a voluntary repossession do you have to keep paying on the car until its picked up?

If it drives, take it to the finance company and hand them the keys.


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not paying your monthly bill on it


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I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.


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If your car was stolen and totaled can the bank list it as a repossession and make you continue to pay insurance on it?

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