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Gap insurance does not cover repossession anything. It only covers if you wreck the car and owe more than it is worth.

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Q: Does gap insurance cover the remainder of a loan from a voluntary reposession of a vehicle?
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Related questions

A vehicle under reposession is on my property?


Can reposession company file a claim with your car insurance company to fix preexisting damage?

If your lien holder repo's your vehicle, they can file a claim against your insurance for damage to the vehicle. The repo company itself would have no claim, because it's not their vehicle.

Can my insurance co. disability payments or my workers comp payments be garnished for a vehicle reposession?

They might be able to garnish your payments for the money that you owe them , but nothing more since vehicle has been repossessed.

Do you cancel your insurance on a a voluntary Repossession?

If this is a vehicle you own and can not pay for it any longer and decide to give it back, yes, you should cancel the insurance you have on it AFTER it is out of your possession.

What are the guidelines for vehicle reposession in California?

I am presently two months in arears in payments to the bank. I am presently looking for work with fairly good prospects How can I prevent reposession of my vehicle which is critical in persuing job search?

What is the term used when your vehicle is taken from the owner when payment agreements are not met?


How do you get a new vehicle after a reposession?

You will not be able to using credit, but if you have the cash you could go into a shop and buy one.

In the state of North Carolina does the reposession man need a Writ of Replevin in in order to repossess a vehicle?

habeas corpus

Does the DMV get notified of a reposession if they have not found the car yet?

No. Only when the vehicle is repossessed and always once the licence plates are turned in.

Can a reposession of a vehicle be towed while you are in the vehicle?

Often, the law is vague on this, and the reaction may come down to the disposition of the police department. However, it could be potentially seen as kidnapping.

How long do have to pay once your car is reposed?

The bill is due immediately after the finance company sells the vehicle and totals the cost of reposession.

What if you concealed a vehicle that is in reposession?

It depends on the local state laws. Most of the time, nothing unless the repo agent finds it or the court issues an order for the person release the vehicle to the agent.