I am financing a new car and have 4 years to go...
2007-03-13 15:14:53 · 11 answers · asked by Ali 1 in Cars & Transportation ➔ Insurance & Registration
Sure, you just can't drive your car while your license is suspended.
Depending on what your financing conditions are, you'll probably need to keep paying car insurance too. The financing company/bank is going to want some protection on the money you owe them, regardless of whether your car is being driven or just sitting in the garage.
2007-03-13 15:20:39 · answer #1 · answered by ? 5 · 0⤊ 0⤋
you at the prompt are not getting everywhere because of 20% activity price, and that could nicely be magnified by ability of a lengthy run also. if you're paying $292, yet you may have the funds for $350, you possibly may have shortened your time period up, and gotten it paid off speedier. the in undemanding words thanks to get out of it any speedier, is to pay a touch more beneficial each month to shrink your imperative. this can shrink your average activity paid also, as different have suggested. some states, including WI, do no longer have pre-fee consequences. it is a earnings to you in case your state does no longer penalize you for paying it off, because you will pay down your imperative and not in any respect get nipped in the accurate by ability of shortening up your human being loan time period. so a procedures as a thanks to lead away from this next time? in case your credit has gotten more beneficial useful, you have to be able to get a decrease activity price. The decrease activity price, and shorter time period, the more beneficial useful off you'd be in the course of your human being loan payoff era. Your stability distinction may be because of actual undeniable actuality that activity accrues on a daily basis, so your stability will replace on a on a daily basis foundation, a particular volume, that's determined by ability of your human being loan amt and activity price once back. i'm no longer sitting right here severe on the pony, i'm basically explaining that the problem is basically the nature of a private loan/payoff cycle..... i am hoping this helps understand the finished photograph.
2016-12-01 23:21:08 · answer #2 · answered by ? 4 · 0⤊ 0⤋
The potential problem is losing your insurance. Your finance company will want the car insured while they still have a financial interest in it. You need to read your contract to see what, if any, recourse they have.
2007-03-13 15:20:39 · answer #3 · answered by Aldo the Apache 6 · 0⤊ 0⤋
sure. there is no law saying you cannot own a vehicle and yet not drive. Many people that don't have a license also hire someone else to drive them in their car.
2007-03-13 15:21:32 · answer #4 · answered by Kill_Me_Now! 5 · 0⤊ 0⤋
Well yes you do have a financial commitment to paying the lienholder of course if you don't then it affects your credit because you would have a repo on your hands. It is still your responsibilty. Just because you aren't allowed to drive it doesn't mean you don't have to pay for it. GL!
2007-03-13 16:57:18 · answer #5 · answered by CheleS 2 · 0⤊ 0⤋
YES! You don't need a license to buy one only good credit
2007-03-13 15:20:52 · answer #6 · answered by Anonymous · 0⤊ 0⤋
sur you can, you need to get a special permit from your insursnce agency to proove you atill have the car but ar not driving it.
2007-03-13 15:21:06 · answer #7 · answered by Jeff E 1 · 0⤊ 0⤋
OF CORES YOU CAN YOU JUST CAN not DRIVE IT ON THE ROAD YOUR FIANCE CO. DOESN'T CARE IF YOUR ABLE TO DRIVE OR NOT THEY JUST WONT THE PAYMENTS .
2007-03-13 15:21:30 · answer #8 · answered by BRADLEY A 3 · 0⤊ 0⤋
Yes, you just can't drive it.
2007-03-13 20:20:12 · answer #9 · answered by MoltarRocks 7 · 0⤊ 0⤋
yes you still own it and your L's aren't suspended forever.
2007-03-13 15:19:54 · answer #10 · answered by bubba23111 3 · 0⤊ 0⤋