It was almost done paying off the car this coming june but my EG got stolen 2 days ago..done approriate things like insurance and police..but should I stop making payments to the car?

 

bump..please respond

 

you should pay but make sure your insurance reimburses you for paying otherwise that will screw with your credit they dont care if your car was abducted by aliens

 

ohhh ***..for real i don't have a car but I still have to make payments

 

Yeah I think you have to pay, the bank doesn't really care what happens to your car. They just want their money.

 

Sad but true

 

indeed...however it doesn't hurt to discuss your options with your insurance company...

 

very true.. i totaled my 92 si hatch almost 2 years ago.. insurance company didnt pay off the loan cause of some stupid *** reason, so i was payin for the car even tho i didnt have it and insurance already sold it to someone else at an auction, bank wanted money, insurance didnt cover it, so i had to pay it.. my situation really sucked due to other things at the time

 

Wow the insurance compnay pretty much said drop your pants and bend over... that sucks dude!

 

quote:
--------------------------------------------------------------------------------
the bank doesn't really care what happens to your car. They just want their money.
Sad but true
very true.. i totaled my 92 si hatch almost 2 years ago.. insurance company didnt pay off the loan cause of some stupid *** reason, so i was payin for the car even tho i didnt have it and insurance already sold it to someone else at an auction, bank wanted money, insurance didnt cover it, so i had to pay it.. my situation really sucked due to other things at the time


--------------------------------------------------------------------------------

so ur insurance didnt pay u **** and also sold ur car???

 

pay it off and have good credit later in life for other things(houses,cars,toys) or stop paying and keep driving civic hatchbacks and living with your parents for the rest of your life..that pretty much sums it all up its just up toyou what you do

 

That situation calls for a insurance company and the bank to be reduced to ashes.

 

man call the insurance comp if you had good coverage they gota pay it off end of story if not take there freaking asses to court

 

i wonda if the lord still cares for us tuners on welfare

 

In a roundabout and different way he is right. If insurance does not cover the car or only partially pays an amount that will not completely close out the loan on your account continue making payments until it is paid in full. So long as there are not any problems the insurance is going to take a look at the value of the car (retail from what I remember), then contact your bank to find out what your payoff is, then make a payment/payoff on your behalf. Any excess is due to you, anything that falls below you are responsible for. Again this is only relevant pending on the situation and insurance coverage. It is a good idea to make the bank aware of what is going on, the most they would probably do is give a extension unless the loan payment is/has been due.

Protect your credit, there are many advantages in the future as long as you manage it well.

 

If it's almost paid off just finish paying it off. Otherwise you'll get bad credit from this that will haunt you for 7 years. Sorry to hear about the lost. Good luck and keep us updated.

Damn, another stolen Eg thread

 

you call the finance company and tell them it got stolen,then give them the # to your insurance company,tell them that its covered and the insurance company will take of it,make sure that they agree,it happened to me it everything was o.k.i quit making my payments but i discussed it with the finance company first.

 

yeah you should still go ahead and pay it. otherwaise your credit will suffer. you also want to make sure the insurance compensates you for everything you put in to it.

 

i work for an insurance comp! u still have to pay for ur car until the insurance gives u a settlement! sorry man hope everything works out for u. i know it will take some time for the insurance comp to give u ur check. so good luck!

 

thats why you should have gap insurance. covers the remainder if the insurance doesnt pay for the balance of our loan. this happened to my mother a few years back and it saved her from having to come up with a little over 1500 bucks.

CHRIS

 

Yup, they made me pay, but insurance reimbursed me for the 4 months i paid for my car after it was stolen. They took their sweet time. Make sure you get on insurance for the money!! My adjuster quit his job and my claim sat on someones desk and did nothing with it... It finally got handled again when i nagged them to death...