CAR LOAN QUESTION.

NYSpeed Automotive
1

Ok, real quick.

Say I were to buy a used car.

And i have a co-signer etc. etc.

The loan is only for several grand.

I would not want to put it on the road until winter is over.

If i take out a car loan from a credit union, do i have to register it and insure it right away?

Or can I wait a while?

Now my second idea.

What about just taking out a personal loan, buying the car, and letting it sit in my neighbors backyard, and then register it later on??? Can i do that?

What are my options. I don’t feel like paying insurance on two cars, one im not driving.

thanks guys :tup:

2

buy a car and let it sit in someones backayrd? cmon beck

3

you have to have comp+collision on it, but you don’t have to pay liability until it is registered.

4

I WILL NOT LET T BE DRIVEN IN THE WINTER.

IT CANT BE.

5

even if its old?Like something i wouldn’t normally have collision on?

6

with a car loan u must have full coverage. u can put storage insurance on it but some type of insurance has to be on for example say theres a fire

7

yea u have to have insurance on it…liek Newman said…even if its old because technically u dont own it so if anything were to happen to it the bank can still get their money back once the loan is paid off u can take collision comp glass yada yada off

8

how old?

get on aim fukker

9

yeah but if he gets a personal loan he can get by with having it uninsured cause the bank doesnt know he bought a car with it.

10

so.

from what mr. nikuk has told me

get a personal loan, pay a point or two higher on my apr.

and i wont have to have collision on it, cause the bank won’t know its for a car.

and i can register it and shit in april.

11

what kind of car :snky: :snky:

12

most banks will not finance a car the is as old as he is looking at. regardless.

13

barbie convertible… get’s all the bitches (15 & under)

14

siiick, is it the special edition with the pink wheels?

15

so im going to do a personal loan.

nikuk helped me find my credit score/report!

i think NYSPEED would like to know…i have no negative accounts…and my account status on both is… PAYS AS AGRRED

16

i kno my truck has a loan from a credit union and its off my insurance and and off the road now untill april. I dunno if the credit union knows this, but its been off the road and completely uninsured since the middle of october and they didnt say anything yet, so i guess its ok.

17

Are you sure you have to pay insurance on the car even though it’s not registered? I can’t see why they would force you to drive the car. Say it’s a collectors item, etc…

18

meh.

im going to look into personal loans anyways.

cause i don’t want to pay out the ass for collision, when i don’t need it/want it.

19

State farm lets you withdraw your car from use. I have it on my Eclipse where I pay 25% of my premium and I don’t have to take the car off the road and reregister it in the spring.

20

thats great matt.

thats awesome for people who have state farm.

however…i don’t.

sometimes you just dont think :stuck_out_tongue:

i <3 you!