Jan 26 2010
Do you need full coverage on a used auto if you get a personal loan from a bank for the car loan?
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Should I tell the bank it is for a car, is this to my advantage or disadvantage?
Dont want full coverage on a old car that really doesnt need it just because the loan requires it
2 Comments on this post
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Beachcomber said:
1st. Honesty is the best policy!!! 2nd. You need insurance coverage for the dollar amount you owe. I once bought a used car and found my combined payment were less expensive by allowing the finance co. to maintain insurance for the amount I owed as the adjusted the premium evrytime I made a payment thereby lowering my payment each month.
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0January 26th, 2010 at 8:13 am -
JohnMartin1966 said:
You don’t have too disclose what you are spending the money on…..If you use the car as Collateral then you will have too have full coverage.
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0 0January 26th, 2010 at 8:13 am
