Auto Insurance Help

[bosanel]

Today I went and bought a newer vehicle through Pacific Auto Sales. My Credit is kinda screwed so there wasn't much of an option for me, but I decided eff it I'll buy whatever now, hold it for a while and then look for something else later on.

My problem;

Albera Motors Association wants me to put down 6 months in advance for insurance which would roughly come to about 1800 dollars since I'm a recently new driver and had a few late payments.

I can't afford this so I need to look elsewhere...

Do insurance companies share records of people? I mean if I go to another insurance company would they know that i messed up, and would they as well ask me for a 6 month payment in advance..

If not, then if anyone could direct me to a more reasonable Auto insurance company that would be great.

Thanks in advance

Anel

[boxer23]

I think its not insurance companies sharing records, I think its your credit rating. Which all insurance companies will have access to. Also check out state farm or pc auto insurance

[The Cosworth]

Yes your driving record will be shared between all insurance companies. Otherwise all ANYONE would have to do is switch companies to get off scott free.

But yes boxer23 is probably right. Most likely the reason you need to put money down in your shitty credit. Insurance doesn't want to get screwed if you dont make a payment or two.

[bosanel]

Whats the chance that another company will let me do month-to-month payments?

I'm officially screwed, I don't think I can even take my car off the lot without showing proof of insurance.

Anel

[The Cosworth]

Originally posted by bosanel
Whats the chance that another company will let me do month-to-month payments?

I'm officially screwed, I don't think I can even take my car off the lot without showing proof of insurance.

Anel

Minimal, you have bad credit and with the state of the credit market most places wont extend you ANYTHING unless you have collateral to back it up or good credit to prove you wont screw them.



Hopefully you put an insurance clause in your sale contract.

[bosanel]

Originally posted by The Cosworth


Minimal, you have bad credit and with the state of the credit market most places wont extend you ANYTHING unless you have collateral to back it up or good credit to prove you wont screw them.



Hopefully you put an insurance clause in your sale contract.

What do you mean by Put an insurance clause in my sale? Sorry my English isn't too great.


What would you do in my situation?

I bought a car, it's sitting at the dealer now, they want proof of insurance or (I don't think) they will let me drive it away. I have 500 dollars down on the car which isn't much but it's still 500 dollars and all there's left to do is bring what they want and take the car away. I'm basically stuck with either paying a month for the car being parked until I can afford to put down 1800 dollars for the insurance or going there and telling them, I can't buy the car.

First time I've been this confused and jammed.

Thanks

[The Cosworth]

Originally posted by bosanel


What do you mean by Put an insurance clause in my sale? Sorry my English isn't too great.


What would you do in my situation?

I bought a car, it's sitting at the dealer now, they want proof of insurance or (I don't think) they will let me drive it away. I have 500 dollars down on the car which isn't much but it's still 500 dollars and all there's left to do is bring what they want and take the car away. I'm basically stuck with either paying a month for the car being parked until I can afford to put down 1800 dollars for the insurance or going there and telling them, I can't buy the car.

First time I've been this confused and jammed.

Thanks

I am going to say no, but in your purchase agreement you can put a section in there that states you need to be able to reasonably get insurance otherwise you are entitled to your deposit back.

Did you just pay a deposit? it may be worth loosing that. If you actually PAID the whole thing, then you better take out a loan for the 1800 on the insurance and use it and chock it up to a lesson learned.

Legally you cannot operate and plate a vehicle without insurance so unless you get it towed to your house then you better figure out a way to insure it.




Call a couple other companies before you give up, some may only have 4 months which would save you SOME money but I wouldnt expect to get off with nothing.

[bosanel]

500 is the amount I put down, gladly. If I went there and told him I can't afford my insurance currently but I can tow it to my place do you think they'd let it slide?

Anel

[510-Trevor]

Insurance companes do have a common database that lists among other things, a persons payment history. So good credit or not, if you have been late on payments, they will all know.

You might be able to get month to month. Perhaps call around to a few places like Blue Circle etc, be up front with your problem and let them know your finacial situation regarding pre-paying your insurance.

[bosanel]

Originally posted by 510-Trevor
Insurance companes do have a common database that lists among other things, a persons payment history. So good credit or not, if you have been late on payments, they will all know.

You might be able to get month to month. Perhaps call around to a few places like Blue Circle etc, be up front with your problem and let them know your finacial situation regarding pre-paying your insurance.

Thanks guys, I'll do what I can to get my car, if not I'll call it a lesson learned.

Thanks again..

Anel

[Masked Bandit]

You are being refused monthly payments simply because of your cancellation for non-payment. There is a database that all insurance companies use for everyone. It tracks your vehicles, insurance policies, payment problems and claims history. You will need to find a broker that is willing to route your payments through a third party financing agency. I would help but we are not open today.

[Jynx]

You can get your deposit back from the dealer for more or less any reason. Its a big misconception that dealerships can hold deposits. They may be reluctant to give it back but according to Alberta law they must give it back.

If you are unsure contact AMVIC and they will explain further.