Danette Slotnick: Your lender will be notified and will force place insurance on the car which will cost a heck of a lot more than you are paying now! If your insurance has gotten to expensive, then you need to sell your car and buy an older one until you get older and it is more affordable.
Lupe Sancen: If you want to drive a car pay the insurance because if you do not and have a bad accident you will pay a hell of a lot more in damages. I understand that in some US States it is not compulsory to have insurance. It is still irresponsible not to have it. I have been told that public transport is not good in California. if you do cancel I hope the financiers do re-posses the vehicle. Would it not be a good idea to ask the finance company to revise your loan so that you pay a smaller amount over a longer period. It will cost more in the long run but you remain responsible and legal...Show more
Thomas Riner: They will find out and once the company who finances! your car will find out that you have canceled the insurance, they can and probably will repossess your car.The upside is that now you know that buying a car this way isn't such a good idea, we all need to learn, somehow.
Jose Calaycay: Yes, canceling your car insurance and driving without it is illegal, and I hope to God I don't see you on the road. Your lender WILL be notified because all lenders REQUIRE full insurance on the vehicle while they have a lien on it. Also when you cancel your insurance, your insurance provider will want to know who you've switched with to notify the lender. Driving without insurance on a car with a lien on it while its required can and most likely will trigger a repossession order for your failure to comply with the loan agreement....Show more
Keven Woodington: i'm assuming that by the term "it" you mean your previous vehicle coverage? not that "it" refers back to the recent vehicle registration. according to threat the recent v! ehicle has under no circumstances been plated or insured.. Be ! completely clean with the coverage organization on those concerns. they're only as undesirable as legal specialists. anticipate not something. that could have been an exceedingly good question to ask them at as quickly as. "in case you are able to not locate my vehicle coverage on the device- what am I cancelling? the place did the money flow that I spent for vehicle coverage? it truly is a logical question which demands a logical answer. there is not any if's, and's or yet's right here. you're continually going to could desire to pay for them doing the place of work work. For a time it became unfastened; yet then somebody observed a "reason to gets a commission" on those people who did transfers- "say from vehicle to bike to vehicle back" The coverage organization desires to gets a commission for the secretarial responsibilities. no remember if it truly is coverage that they have been think to have a record of - it truly is their situation. no remember if it truly is vehic! le registration; then it truly is greater your situation....Show more
Chadwick Schmelz: The first thing you need to do is to check your policy booklet. When you took the policy out, you accepted the terms and conditions. With the majority of insurers, if you cancel part way through the year, you will have to pay a cancellation charge. Sometimes, the full annual premium is payable on cancellation, so you may not save anything by cancelling.Your finance company will have asked you for your insurance details when you took out the loan, and will have written to the insurer to have their interest noted in the car. Technically it is still their car until the loan is paid off in full. If you cancel, the insurer is obliged to let them know. It is then likely that they will either repossess the car, (and if the value of the car does not cover the balance of the loan, they will invoice you for the rest), or they will just invoice you for the remainder of the money you owe. If y! ou do not pay them, they will appoint bailiffs, whose fee will be charg! ed to you, and the bailiffs can seize goods from you to cover the cost of the loan, or take you to court to force you to pay.If you continue to use the vehicle without insurance, there is a very good chance that it will be picked up on an ANPR camera. Your car will be seized by the police. You will get 6-8 points on your licence and at least a £200 fine. You will also have to pay the impound and recovery fees, and will have to provide insurance to get the car back. When you tell the insurer that you have 6-8 points, they will either turn you away or charge you well over the odds for your insurance.You may not be able to afford to run the car, but it will cost you a lot more in the long run if you drive it illegally. If you kill someone while uninsured, you will be sued for thousands, and you wont have an insurer to fight your case for you, so you will be in debt for a long time. If you can't afford to run a car, don't drive one. Simple as that....Show more
Sunshine H! olets: Absolutely the lender will find out. You are not in complience with the terms of the loan. Depending on the state no insurance will require you to possibly surrender your tag. Failure to surrender tag means license will be suspended. Saving a little money now could cost you ALOT more down the road. Not the best idea no matter what everyone else does.
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