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No, but it can be impounded by the police. Lack of insurance is a crime, generally a misdemeanor, but if the degree is severe enough the police can impound it as evidence in a criminal case. To get your car back, you would need to provide proof of insurance, a valid driver's license for the owner of the car and the insurance, and pay the fine for the crime as well as the storage fees for the car while it was in the impound lot.
Repossession is done when you have failed to pay on the car loan. In essence, a car loan is a secured loan - if you don't pay the money, the loaning institution can take the car and sell it to pay off the loan.
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What if your car was repossessed due to lack of insurance yet was insured at time of repossession?
Vehicles cannot legally be "repossessed" due to a lack of insurance. Re-possession can occur only when there is a default in the payment contract and the original owner (the lender) recovers their property from the defaulter.
Will your car insurance company let you have a rental car if your car was repossessed?
Very unlikely. Car insurance is primarily covering damage or loss of vehicle due to theft. Similar to if your car is being repaired a rental car will not be provided.
When can your car be repossessed in california?
In California your car can be taken 1 second after midnight the day after your payment is due. If you do not comply with one of the requirements of the loan, things like insurance and the like, the car can be taken with out notice.
What does car insurance 17 mean?
Car insurance 17 means car insurance that is specifically for 17 year olds and new drivers who may find it difficult to find insurance due to their age and lack of experience. Car Insurance 17 ensures that drives aged 17 can find affordable insurance.
Can a car be repossessed if the owner dies before the first payment is due?
The car can be repossessed. The estate is responsible to return the vehicle and resolve the lease or loan.
Where is a place to get this admiral car insurance and is it popular?
Admiral Car Insurance is a company based in the UK. It is a relatively new company that offers policies to those who pay high premiums due to the lack of carry insurance in the past.
Can your car be repo'ed if you have the title?
IF your vehicle is collateral for loan in DEFAULT, it CAN be repoed.
How many days after your car payment is due can your car be repossessed?
Legally, ONE.Actual practice?? 3-60
Due to lack of insurance can the place where you finance your car change your payment?
Yes they can add coverage to protect the finance company. It is usually more expensive than having insurance from an agent.
Can a car be repossessed due to no insurance?
If the car is leased or has a lien on it (meaning you have a loan out on it) it CAN be repossessed for letting the insurance lapse on it.Cars that have liens on them are required to carry full coverage insurance on them by the bank. This is because until you pay off the loan the bank technically owns your car, and they want to protect their investment.If you are unsure if you have a lien on the car, take a look at the title. If there is a lien, it will show on there. If you are thinking, "How will they know?" here is the answer to that. When your insurance coverage lapses (runs out/expires) and is not renewed, the ins. company notifies the DMV of your state. Under most state laws, you are the given an average of 14 days to resume insurance coverage or are required to surrender you license plate(s). If the 14 day average passes and you have not done either, the bank that has the lien on your car is notified (because the sate DMV has those records). The bak will then attempt to call you and rectify the situation. If they are unsuccessful, they have the car repossessed.
Why is car insurance for young drivers so expensive?
Car insurance is more expensive for younger drivers due to the fact that their lack of driving experience makes them a higher risk. Insurance companies charge based on a number of factors that contribute to your overall risk as a customer.
Why do insurance companies not offer cheap car insurance to 18 year olds?
Insurance companies usually have higher rates for young drivers due to their lack of experience, lack of responsibility, and the idea that they are more impulsive on the road. Not all teenagers are this way, but the insurance companies have to take care when insuring young drivers.
