Is a Car insurance obligatory?
well i want to buy a car, but im not planning to use it till i pay it for complete (im thinking of leaving it in my uncle`s garage for 5 or 6 months till i pay it) and the main reason for this is because i want to send it to another country..do you think is possible if not what should i do?
More Questions From This User See All
Answers & Comments
Verified answer
If you're financing the car, you'll need to have physical damage (comprehensive and collision) with the lender as a lienholder, and to drive it home, you'll need liability coverage. Once it's stored, you can take off the liability, but will have to keep the physical damage until it's paid off. Just remember to add the liability back on when/if you start driving it.
most dealers wont let you take if off the lot without proof of insurence and you can not finance a car if its not insured. It must have your states minimum requirements to be financed through a bank or credit union