insurance rules 2002
Why our banks just give us a car loan, 2006 or later, without a down payment?
My husband's car was totaled in a hailstorm. Our bank does not give you a car loan of 2005 or no down payment. I had no money saved, so we had to get to 2006 or later. Your used car loan is $ 200 per month for a Grand Am 2002. Now we pay $ 300 per month for a Malibu 2007. Our insurance also rose from $ 100. Why not leave the bank receives the 2005 or more without a down payment? Do most banks have the rule?
Their relationship is a bank called "Loan to Value. "In a used car that is older, the bank pays a smaller percentage of the value of cars. In the new cars that can go up, sometimes more, MSRP for the car finance. So let's say you're looking at something in 2004. The bank's policy may provide only 80% of the low blue book in that car. But you can pay a higher percentage of more value in 2007. This is because newer cars are under warranty for at least part of the loan, and less likely to need repairs at their expense. The banks know that given the choice between making a payment on a car is not running, and paying to get the car in operation, more pay for the repair.
Which States have passed law for insurance coverage on CI and HA??
