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Only if you intend to get it back.
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∙ 18y ago
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Can a disabled person's vehicle be repossessed in Florida?
A disabled person's vehicle can be repossessed just as any other person's vehicle can be repossessed. You must make all payments on your vehicle if you want to keep it.
Can they keep the stuff in the vehicle that was repossessed?
no,because it is your property and the car really wasnt,so you should get your stuff back.
Should I keep making payments in a VW diesel car?
If you keep on missing payments on your auto loan, there is a high chance that the vehicle may be repossessed by the bank.
Do you have to pay on a repossessed car if not sold?
If it has been repossessed the lender will usually stop all collection activities until the vehicle is disposed of through sale. It is unusual but the lender could decide to keep the vehicle but should they do that than they waive their right to a deficiency.
When can you drop auto insurance on a repossed auto?
When your vehicle is in the process of being repossessed, the bank is starting the process of taking back ownership. If you have not maintained continuous insurance coverage on your vehicle, chances are the bank will force place insurance which will add to your loan balance. If you are anticipating repossession, keep insurance on the vehicle until the vehicle is claimed. If you intend to discuss payment arrangements to get your vehicle back, you must keep insurance prove you are financially responsible. If you do not intend to get the vehicle back you can cancel your auto insurance after the vehicle is no longer yours. When the bank takes possession, you no longer have a financial interest in the car. Notify the DMV before cancelling the insurance that you are no longer the registered owner of the car to prevent fines for no insurance with the state.
How long should you keep insurance on a car that was repossessed?
IF you plan on getting it back, dont drop it. If you're NOT getting it back, drop ASAP. The lender has coverage. Good answer. If you can't afford to get the car back, drop the insurance. You should not have coverage on the vehicle that is not longer in your possession. Let the lender assume the responsibility. Why pay for something you don't have anymore?
Do you have to keep your vehicle insured if it is going to be repossessed?
MOst likely your contract calls for you to insure the car. For your own protection, you should contiue the ins. coverage.
Should you let the insurance company who is only giving us 200 take the vehicle when it is totaled?
This depends on your plans for the vehicle. If you do not need the vehicle and it is unusable, it may be best to let the insurance company keep it. If you want to continue using the vehicle or think you can sell it (For parts or as a whole), you may want to keep the vehicle.
If your car has been repossessed do you have to keep car insurance on it?
no, but it is recommended. the repo co has insurance and is bonded for this type of situation. you will have to provide proof of repo to your insurance co.
If you pay every month can your vehicle still be repossessed if it is partially damaged but can't be repaired cause you haven't kept up insurance?
Read your contract. It may require you to keep ins. coverage on the car. No ins.= DEFAULT of contract= repo
Can you keep a vehicle after filing chapter 7 if they have not repossessed it?
You can only keep the vehicle under two circumstances: (1) sign a reaffirmation agreement and keep making payments; or (2) redeem the vehicle by paying of the balalnce. If you fail to do either, they lender can get permission from the bankruptcy court to repossess the vehicle. In some states, such as Missouri, you may keep the vehicle if you continue to pay on it.
What to do with auto insurance if license suspended?
If you have anyone else to drive you places then add them to your policy as a driver and have them drive you. You'll be like "Driving Miss Daisy". In any case do not drive for if your caught driving with a suspended license your suspension will be extended greatly in addition to the fine. If your vehicle is financed, your finance agreement will require you to keep your insurance whether or not you are using the vehicle. If you let it lapse the vehicle can be repossessed and will go on your credit report.
