2006-12-30 05:52:43 · 7 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
If the lender requires it as a condition of the loan, yes. If you don't want to be stuck making payments on a car that is wrecked due to your fault, or fire, or theft, yes. If you are upside down on the loan, the car is worth less than the amount currently financed, you might look at GAP or VSI (Vendor's Single Interest) coverage that will pay it off in case of total loss.
2006-12-30 06:32:46 · answer #1 · answered by oklatom 7 · 1⤊ 0⤋
all lending places I know of ask that you put full coverage insurance on the car just to protect the investment. I do every time I buy a vehicle.
2006-12-30 14:03:54 · answer #2 · answered by masterflagman 3 · 1⤊ 0⤋
YES SADLY TRUE BECAUSE IF YA WRECK IT IT'S YOUR FAULT AND WELL IT WOULD TAKE THREE PAGES TO EXPLAIN BUT IT IS THE WAY OF THE LAND AND OWNERSHIP AFTER YA PAY ER OFF THEN YA CAN GET ER DUN CHEAPER REMEMBER IT STILL LEGALLY BELONGS TO THE DEALER AND IF FULL COVERAGE HE DOSEN'T LOSE ON THE DEAL
2006-12-30 13:56:28 · answer #3 · answered by waltonwayaugusta 6 · 1⤊ 0⤋
yes, absolutly. if you were to wreck the car do you really want to pay all the money to the bank in one lump sum??? because you wreck the car....your loan gets called in
2006-12-30 13:55:41 · answer #4 · answered by Anonymous · 1⤊ 0⤋
As long as it is financed it will be required to have insurance
2006-12-30 14:00:49 · answer #5 · answered by Anonymous · 1⤊ 0⤋
Yes---
2006-12-30 13:54:27 · answer #6 · answered by biznitchil 4 · 1⤊ 0⤋
yep. banks require it.
2006-12-30 15:35:38 · answer #7 · answered by Anonymous · 0⤊ 0⤋