foolish asked:


My auto is still under financing.

Mitchell

BigLeague asked:


I have a good-standing loan with HSBC Auto Finance for years now and I always pay on time. I still owe about 24 months worth of payments on the car but I have taken the car off the road (turned in my plates, cancelled insurance, etc.) for now since it has too many problems with it that I cannot afford to fix at the moment. The car is stored away in an indoor garage and has not been driven in months. Is HSBC going to void my loan if they find this out, or will I just have to pay some type of penalty? Thanks!
Some additional info: I could not renew my registration unless I passed inspection, which I couldn’t because of the multiple issues with the car. This is why I initially started down the road of turning in my plates, etc.
Thanks for all the great answers so far. I guess a follow-up question, based on some of the answers, would be this: Can I get insurance on a car that has no plates and is not registered?

Leslie

Mark G asked:


When you finance/lease a car, the lender requires comprehensive & collision insurance with a $500 deductible. How do they know if you have adequate coverage? Suppose you only have 300/100 liability. Secondly, if they find out what would they do?

Gabriel

supergreen4life asked:


My son purchased a car and was led to believe he was financing the balance of the ‘purchase’ price. He was not given a copy of papers signed for supposed financing and was told they would arrive in the mail. The title never was issued and we went to the DMV to request a title which we received in a few days. On the title, a lien holder was listed. When I called them, they said they had not financed the car. This has the smell of a fishy deal.

Judith