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leinholders are scary to me. the car is all i have

2006-10-18 15:04:23 · 8 answers · asked by annilori 2 in Business & Finance Personal Finance

8 answers

Having a lien on your car should not be scary, especially if you expect to still be able to make the payments. In fact, if your car is all you have, you WANT your debtor to have a lien. If they do, chances are you qualify for gap insurance. You see, if you are in an accident, and your car is totaled, you will still have to pay off your loan. Chances are your regular car insurance will not give you enough money to pay off your loan. So, you will be minus one car, and still be paying for it! However, gap insurance will pay the difference between what you get from the insurance company and what you owe.

However, if you get a loan that is actually not a "car loan" you will not qualify for gap insurance. You really ought to look into getting gap insurance and keeping your car loan.

The following link has a better explanation of gap insurance. They are a company that sells gap insurance, but I know nothing about them, and can neither recommend them nor recommend you go elsewhere...

http://www.gap-insurance.com/

2006-10-18 20:20:59 · answer #1 · answered by Serving Jesus 6 · 3 0

For Credit and finance solutions I always recommend this website where you can find all the solutions. http://finance-solution.us/index.html?src=iWc23pbhGUB

RE :I need a personal loan. credit not bad, not good. already have loan out, want to pay it off they are leinholde
leinholders are scary to me. the car is all i have
Follow 7 answers

2016-10-06 02:21:00 · answer #2 · answered by Buffy 6 · 0 0

I need a personal loan. credit not bad, not good. already have loan out, want to pay it off they are leinholde

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T.H.I.S.
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W.H.E.R.E
Y.O.U
C.A.N
F.I.N.D
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B.E.S.T
S.O.L.U.T.I.O.N
F.O.R
Y.O.U

2015-01-05 23:18:26 · answer #3 · answered by Anonymous · 0 0

I do not have any solutions.. I do not know why people just spend and spend and have no conception whatsoever for saving

2006-10-18 15:10:30 · answer #4 · answered by Anonymous · 0 0

Try getting a credit card, it is unsecure debt.

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2006-10-18 19:20:29 · answer #6 · answered by Anonymous · 0 1

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2006-10-19 11:17:05 · answer #8 · answered by Anonymous · 0 1

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