What happens when you forget to pay your car insurance with a car you are having financed it's only going to be for a week till I pay it?

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  • 11 months ago

    The financing contract requires the vehicle be insured at all times. You bring proof of insurance with you when you sign the loan documents. Whether the dealership is handling the registration for you or you are doing it yourself, you can't register the vehicle without proof of insurance.

  • 11 months ago

    Just don't get pulled over without insurance and if you do, lie to the cop about having insurance. Probably nothing if car insurance wasn't stated mandatory when you signed the contract. If you get ticketed for not having insurance your rates will go way the fu©k up. Do what you gotta do.

  • Anonymous
    11 months ago

    You know how LIFE works...as soon as there is no insurance on your car, you get into an accident. It just seems to happen that way. Then it gets costly for you because they SUE YOU. Financially it is not WORTH IT.

    Plan right now to park the car in the yard and do not drive it until it is insured. Take the bus or get a ride with a work mate or walk for that time.

    I went without insurance for 3 hours and got hit. Their fault. I got nailed $250.00 for NO Insurance

    (that was 20 years ago) so the cost is much higher today. Bet on it.

    Cars were cheaper then. (to repair). I will never do that again.

    OF course when you are insured, you never will be in a crash.

    That is how it seems to work.

  • Anonymous
    11 months ago

    Call your insurance company. We don't know where you live, hence we don't know what laws apply.

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  • 11 months ago

    A violation of the financing contract and grounds for the car to be repossessed.

  • 11 months ago

    You could get your insurance canceled for non-payment.

  • 11 months ago

    That depends on where in the world you live. It ranges from a late payment fee to jail time.

  • 11 months ago

    Car insurance usually has 7 day grace period. If you "remember" to pay it, nothing will happen except a late fee.

    If it's more than 7 days, your plan will likely of been cancelled. Hopefully, you can pay a reinstatement fee and get it re-insured before the lender learns about the lapse in coverage. If the lender is aware of the lapse in coverage, they will add their own coverage for about 3X the average rate.

  • 11 months ago

    It depends. You could lose your registration, your insurance could be canceled, and/or your car could be repossessed. If I were you, I would pay the insurance bill now -- before something bad happens.

  • Anonymous
    11 months ago

    You can be fined. Your drivers license can be suspended. Your insurance can be cancelled.

    DMV will definitely be notified. Driving without insurance in my State is a felony.

    Read the financing contract. The bank/finance company has the legal right to repossess the car.

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