Are we obliged for progressing your automobile word after your automobile has been repossessed?
4 Responses to “Are we obliged for progressing your automobile word after your automobile has been repossessed?”
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Probably a good idea until the title has changed hands. If it’s stolen or damaged, you may get stuck for additional charges.
Advise your agent and see what he suggests
I would say no.
Once the car has been repossessed, you no longer have an insurable interest in the vehicle. Drop your insurance coverage. The finance company will sell the vehicle at auction and you will be responsible for the difference in the amount you owe less the sell amount. You will also be responsible for the repo charge & auction charge.
No, that is silly. Why would you pay for something you don’t have?