Dilemma

[KrazyHorse]

He's probably already gambled it away.

[Spec]

Yea, I gave him the loan, but the only bad thing with the insurance is if he steals the car, which he wont. He's not that kind of guy, I know this.

Spec.

[MRT144]

what if I steal the car, or anyone does for that matter

[Arrian]

Hey, who read an insurance contract all the way?! I know I dont...I probably should though

I work for an insurance company. A major one.

I know you don't want to hear it, but there is something to what these guys are telling you: any claims handler worth his salt will raise issues with such a claim (if the car is stolen by the guy). I'm a little surprised they (edit: "they" being the people who sold you the policy) didn't ask some pointed questions about an insurance policy that insures a driver who does not live in the household of the owner of the car and is not related to him.

Maybe I'm wrong - I don't handle auto claims (I'm in environmental) and it's been ~6 years since I sold auto... and besides, you're in Canada so things may be a bit different.

-Arrian

[Urban Ranger]

Originally posted by Spec
I can garantee he loves her more than gambling, I'm 100% sure. Hell, the guy was crying yesterday when she signed the contract.

Did you do that with the help of a lawyer?

You may have a hard time collecting otherwise.

[Gibsie]

Originally posted by Spec
Oh I will.

Spec.

Nonono I'm asking you to tell us now what you will do if he doesn't give you a payment. Will you instantly take both the cars? Or fold and give him some leniency?

[Spec]

Take his car on the spot. I made a double of the key.

Spec.

[Spec]

Originally posted by Urban Ranger


Did you do that with the help of a lawyer?

You may have a hard time collecting otherwise.

I made many many contracts in my previous jobs, so no, there are no loop holes he can use.

Spec.

[Mrs. Tuberski]

I havent seen anyone mention the fact that the other guy is to pay the insurance. I dont know how it works there but here you can decide i dont want that insurance and not pay for it anymore then the car is not insured. Sure the bank will tack on their own insurance but the bank only insures the car for what they are out. You are trusting a guy to make all the payments and thinking the insurance will cover your ass, when if he faults on the insurance then you pretty much up a creek with out paddle

[Mrs. Tuberski]

Not to mention if that car is in your name, you are respoisble for all the tickets such as parking the driver gets.
I wonder now, since it is impossible to do here, how this guy can insure a car in ur name if he is driving it. The owner of the car has to insure it and i believe you said ur the title holder.

[Spec]

Originally posted by Mrs. Tuberski
I havent seen anyone mention the fact that the other guy is to pay the insurance. I dont know how it works there but here you can decide i dont want that insurance and not pay for it anymore then the car is not insured. Sure the bank will tack on their own insurance but the bank only insures the car for what they are out. You are trusting a guy to make all the payments and thinking the insurance will cover your ass, when if he faults on the insurance then you pretty much up a creek with out paddle

Absolutly not. The car is my garantee, it is under my name, so is the insurance. He pays for it all. If he misses one payment, I sell the car. Period.

Spec.

[Spec]

Originally posted by Mrs. Tuberski
Not to mention if that car is in your name, you are respoisble for all the tickets such as parking the driver gets.
I wonder now, since it is impossible to do here, how this guy can insure a car in ur name if he is driving it. The owner of the car has to insure it and i believe you said ur the title holder.

Where he works, and where we live, you cant get parking tickets, any other tickets he gets, will be under his name, not mine. And if he doesn't pay those tickets, they cant take the car, its under my name.

Everyone of you thinks this guy is some lousy crappy guy with no values. He has/had a gambling problem, thats it. He never gets parking, speeding or traffic tickets ever. He doesn't steal, do drugs, or whatever you may think.

I know the worst of worst always comes to mind, I know the guy, my only fear is if he continues gambling and doesn't make a payment. And that fear is very small. Besides, today he payed me 25% of his insurance. He even tried to get a loan from a bank today but his debt ratio is too high according to the bank, but its only because he's a waiter and his tips are not all taxed, and all untaxed income is never taken into consideration by a financial institution.

He has good will, for now.

Spec.

[Mrs. Tuberski]

No spec i dont think he is a lousy guy. I dont know him ALL i said was a parking ticket goes to the owner of the license plate of that car not who is driving it. I also said that he can not pay the insurance that ur depending on. If he doest the policy can be cancelled and then ur out of luck. What you do with your money and friends is your business, but when you get into cars and insurances its a big risk especially if you dont realy know or trust the guy. Your deal is done and for ur sake i hope it works for ya, you say you can go get teh car but whos to say, if you dont have the car, that it will be there to go get if he messes up?

[Spec]

I'm pretty sure he wont. But thank for worrying about me.





Spec.

[notyoueither]

Originally posted by Spec
It may be so, I'll check.

So you mean if I lend you my keys, and you take off and I never see you again, I'm not covered? I'm pretty sure I am...I'll call right away...just to be sure.

Hey, who read an insurance contract all the way?! I know I dont...I probably should though

Spec.

I've heard horror stories of someone lending a car and never being able to get it back. It's not stolen.