Looks like i wont be driving my car this summer. Took out a loan to finish it up (get all the rest of my parts and get body work and paint). So i start buying some **** and get a letter in the mail saying i need to have full coverage on the car. Full coverage for my car is $754 a month. So i was like wtf? I was going to be using my loan to pay insurance and think thats a load of ****. I call my bank and tell them the car has no engine or tranny and doesnt run and wont be on the street. They dont care. So then i told them my home owners insurance covers my car if it gets stolen. They dont care. So now i have to pay back my loan and wait to get this car fix and that wont happen untill winter when i have money......



****.



///end of rant////

 

if you used the car as collateral you would have to have full coverage on it. try using something else, like maybe home equity if you have any

 

I can't see it justified to take out a loan just to build a car????

 

[quote name='wanta be boosted' date='Jul 13 2005, 07:44 PM']I can't see it justified to take out a loan just to build a car????


[/quote]





You obviously don't understand obsession.

 

Be persistant with the bank or credit union, take pictures, get documentation, sign an agreement, and tell them to stuff thier CPI insurance right up thier ***. At the minimum I would pay for comprehensive insurance with your insurance agent, not their's, in the event of theft or fire, comp insurance with a 500 deductible won't kill your project.



It will work, but I need to whack you in the nuts with a yard stick for taking a loan out on your car! Poor financal decision, you are a newbie at life!

 

yeah. you suck at finances. you will be broke for your whole life because you will prioritize wrong and spend all of your money on toys instead of saving for rainy days.



no sympathy here.

 

I understand obsession, EVERY spare dollar I have had, has gone into my building my 93.... But I'd never pull a loan out on the piece of ****! Damn....

 

your only required to have full coverage on a car loan...

sounds like you took a personal loan... of which does not carry the same stipulation..

 

[quote name='amp' date='Jul 13 2005, 06:36 PM']your only required to have full coverage on a car loan...

sounds like you took a personal loan... of which does not carry the same stipulation..


[/quote]



I think he took out a car loan. Using the car for collateral = car loan, and you'll have to have insurance.

 

[quote name='venomrx7' date='Jul 13 2005, 07:49 PM']I think he took out a car loan. Using the car for collateral = car loan, and you'll have to have insurance.


[/quote]



Yeah, I think he's too young to have an unsecured or personal loan, line of credit etc.