and I get into a accident do I have to fix the car if the damage is minimal. I got into a accident and the other parties insurance paid me 300.00 do I have to use that in the repair of the car or is it my decision to apply monies to the fixing of the car. I don't want to get into any trouble. I live in Florida.
2007-09-06 04:42:11 · 6 answers · asked by Theresa L 2 in Cars & Transportation ➔ Insurance & Registration
You don't "have" to but you take the chance of something happening where you can no longer make payments and the vehicle gets repoed. They then sell it and you pay the difference between what you owe and the selling price. The damage may cost you more than the $300 you are keeping now. Just a thought.
2007-09-06 06:20:30 · answer #1 · answered by sensible_man 7 · 0⤊ 0⤋
The lien holder is entitled to funds if you SELL the car (if you still owe them money). So if the damage will affect the sale price and you plan on selling before you have it paid off, then yes, you should get the repairs done so that you can sell it at top value and pay off the lien. Otherwise, I wouldn't worry about it. It's your choice as to whether or not you get the repairs done. You can pocket the $300 or use it for whatever you want.
2007-09-06 04:53:05 · answer #2 · answered by Goddess 5 · 1⤊ 0⤋
if two people are on the title of a car one the lean holder and one registered owner can the lean holder just take the car in the middle of the night?
2014-01-10 07:36:08 · answer #3 · answered by Osita Padilla 1 · 0⤊ 0⤋
the only element you may desire to do to sell the motor vehicle is sign the identify. Illinois does not require which you deliver the DMV a observe of launch of criminal accountability even with the shown fact that it could desire to be a competent concept to deliver one by ability of any ability. See the 1st link. you apart from could could desire to supply the broking a bill of sale besides the shown fact which you do not legally could desire to try this the two. See the 2d link. save copies of them. commonly the financial employer has possession of the identify of their workplace. i'm unable to comprehend why they say it is going to take 30 days. as quickly as I went into my financial employer to sell a automobile I paid the mortgage off and that they at modern had a financial employer officer sign off the lien and exceeded it to me. Ask the financial employer how long it is going to soak up case you deliver them a cord flow or a cashiers verify for the quantity you owe. by ability of cord flow they could desire to be waiting to in one day you a lien launch interior an afternoon or 2. of direction, in case you have not have been given the money you're caught. the shopper could desire to be keen to advance you the money yet in my view all and sundry who could supply you any money previously the identify is obvious is making a great mistake. until you have the lien the launch you may not sell it on account which you do not very own it. the shopper is basically not waiting to get his very own tags and insurance.
2016-10-18 03:19:11 · answer #4 · answered by coiscou 4 · 0⤊ 0⤋
If the lean holder doesn't know I guess you could get away with it, but They may get ya if they ever come repo your car
2007-09-06 04:50:57 · answer #5 · answered by Anonymous · 0⤊ 0⤋
YOU SHOULD GET THE VEHICLE REPAIRED BUT I DON'T UNDERSTAND WHY THEY GAVE YOU THE CHECK WHEN THE CHECK SHOULD HAVE HAD THE LIEN HOLDERS NAME ON IT AS WELL.
2007-09-07 06:48:34 · answer #6 · answered by Anonymous · 0⤊ 0⤋