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Hey guys, I recently purch ...
untitled / Family & Parenting / 6:59 PM - Sunday August 26, 2007
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A Married Girl (Female, Houston, 29-35, Student) asked:


Hey guys,

I recently purchased a used car and financed through the "credit union". Unfortually I got stuck with a :lemon" car and the car currently is not operable. At the moment It is currently insured with my insurance company and my credit union is saying that the car must be insured otherwise I will be FINED $700. Why should I have to pay for insurance for a car that Im not driving? Is there anyway I can bypass this by going to the DMV by anychance? Im still willing to pay off my loan with the credit union, but I just dont understand why I have to pay for insurance for a car Im not using!

Thanks for everyones help in advance.

Hope everyone had a nice weekend.


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A Thinker (Female, Chicago, 46-55, Administrative) answered:

Screenname: cubbiegal


The credit union wants to secure their investment. Why not just get rid of the car to the highest bidder, if you're not going to fix it.

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A Mr. Nice Guy (Male, 56-65, Retired) answered:

Screenname: ukraineguy


It actually depends on what the laws are in your state. It also depends on the contract you signed with the finance company. Until you pay it off, they in essence own that car and want their investment protected. Pay off the loan and you are free to do what you want (again, depending on state law). If you are not driving it, you may not need to have it insured. But, once it's on the street again, it will need to be covered. Take care and thanks for asking.

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A Hip-Hop Guy (Male, 36-45, Technical) answered:

Screenname: whitehorn


Let's say you went to work and came home and found your car burned completely. Now the insurance will pay it off for you and you will be debt free. If someone ran into it while it was parked and totaled it in the rear. You won't have to pay for it. Even if they weren't insured, your insurance will still pay it off. You may call your insurance co. to see if they can give you a cheaper rate. Change your deductable; drop the medical coverage until you get it back on the road or get another car; just call them 2morrow and see what they can do. By the way...what the matter with it?


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