Can I continue to make payments on my car and keep it if I recently lost my license?
Find answers to your legal question.
Can I continue to make payments on my car and keep it if I recently lost my license?
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I am financing a new car and have 4 years to go...
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mrjoebuchanan
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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. |
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CheleS
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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! |
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tweed801
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well if you don't they will pick it up . or you can turn it in to them . |
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eldoradodave
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YES! You don't need a license to buy one only good credit |
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bubba23111
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yes you still own it and your L's aren't suspended forever. |
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MoltarRocks
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Yes, you just can't drive it. |
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Travis Bickle
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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. |
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Jeff E
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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. |
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BRADLEY A
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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 . |
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Kill_Me_Now!
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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. |
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Additional Details
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