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Can a vehicle be repossessed for insurance lapsing?

In: Repossession, Insurance [Edit categories]

Answer:

Answer

I would not think so, but, your lender does require that you carry collision insurance on the car, which is the lender's collateral. It depends on what the note you signed says about this. Read it.

Contributor:

Clay

First answer by Clay. Last edit by Clay. Contributor trust: 4945 [recommend contributor ]. Question popularity: 25 [recommend question].

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