Car Insurance

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  • asprilla
    asprilla Posts: 8,440
    unixnerd wrote:
    My Mrs also claims the reversing sensors are faulty............

    Are the reversing lights coming on? If they're not it could just be the switch that screws into the side of the gearbox.

    Reversing sensors are fine. She just keeps relying on them conmpletely instead of using her mirrors as well.
    Mud - Genesis Vapour CCX
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  • prawny
    prawny Posts: 5,440
    lost_in_thought wrote:
    So, what happens if the insurance settlement is less than the outstanding amount on the loan? Does he still have to pay the loan?

    And what if he sells the car? Does he sell the loan too? Do you have to pay off the laon before you're allowed to sell the car?

    Can you get several car loans at once?

    You can buy gap insurance for that. They've got youover a barrel really. Cheapo cars, that's where it's at.
    Saracen Tenet 3 - 2015 - Dead - Replaced with a Hack Frame
    Voodoo Bizango - 2014 - Dead - Hit by a car
    Vitus Sentier VRS - 2017
  • lost_in_thought
    lost_in_thought Posts: 10,563
    unixnerd wrote:
    So, what happens if the insurance settlement is less than the outstanding amount on the loan? Does he still have to pay the loan?

    And what if he sells the car? Does he sell the loan too? Do you have to pay off the laon before you're allowed to sell the car?

    Yes. The two aren't connected, all the loan company will care about is that you owe them money.

    No, but you should or the car will have finance owed on it and may be technically owned by the finace company who could take it back from it's new owner! For this reason you should do an HPI check on any used car you buy to ensure it has no accident history or finance owing on it.
    #

    Strewth, Bruce.

    I'm beginning to see why I was told it's a bad idea to buy a car on finance!
    FCN 7/1
    Viner Maxima, Tifosi CK7, Giant Bowery, Old commuter.
  • always_tyred
    always_tyred Posts: 4,965
    lost_in_thought wrote:
    Can you get several car loans at once?
    Only if you get several cars. 8)


    ... about early payment (from selling car and.or insurance payoffs) I imagine its just like a loan for a house. The money is made from the interest, so either there will be an early payment penalty or you will have to pay all, or (in my partner's case) a years' worth of interest.

    Heads they win, tails you lose.

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