Is it true that you must have full coverage auto insurance when you purchase a car with a loan?
what about a small loan under 4k for a used car?
Comments
One Comment on Is it true that you must have full coverage auto insurance when you purchase a car with a loan?
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entidtil on
Wed, 7th Oct 2009 4:41 pm
"full coverage" can mean many things. It is true that lenders require both collision and comprehensive coverage and your state requires at least liability so you will need those 3 coverages. It doesn’t matter what the car is worth or the loan amount.
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