If a car is on finance, and that car is written off, if the peerson buys another car who owns it.?

car on finance written off and insurance payout. if new car do the finance company have any claim over new vehicle. as the finance aggrement is with the first car????

If a car is on finance, and that car is written off, if the peerson buys another car who owns it.?

Not 100% sure but I would say that the insurance company would have to pay out to the car finance company as they %26#039;own%26#039; the car... If the pay out is more than what is owed on the finance then you would be due the remainder...

If a car is on finance, and that car is written off, if the peerson buys another car who owns it.?

Not directly no, but if you fail to keep up payments on your finance they may be able to take any assets you have to cover the remainder of the loan. That may include your new car.

But if you have paid for the new car outright, then you are the owner.

If a car is on finance, and that car is written off, if the peerson buys another car who owns it.?

If the car was written off, the finance company would get the check. If there was any balance left, you still owe them that amount. If you don%26#039;t pay off what you owe, and instead go buy a new car, they can go to court and claim against your assets, which would include your new car, but no, without a court order they would have no claim.

If a car is on finance, and that car is written off, if the peerson buys another car who owns it.?

Your question doesn%26#039;t make sense.. If the insurance paid you for the first car for being written off, then you settle payment with the finance company.. even if it means paying more than the insurance company paid out to you.. Full Stop. You are the one who insured the car..not the finance company... Then you go and buy another car on finance.. until you pay for that car the finance company in theory still owns that car.....

If a car is on finance, and that car is written off, if the peerson buys another car who owns it.?

Contact the finance company and ask them

If a car is on finance, and that car is written off, if the peerson buys another car who owns it.?

denzel is correct ....2 seperate deals..insurance paid out on first car .....you pay that to finance even if you need to make up difference ......if you use that cheque to buy an other car then you have broken the law ,because technicaly you have sold a car to the insurance company without owning it

If a car is on finance, and that car is written off, if the peerson buys another car who owns it.?

if you bought a new car on finance and it is writen off the insurance pays the finance company for the car, if you buy another car on a new finance deal ,,the finance own the second car until its paid for. if you got a bank loan for a car and car is written of the insurance pay you for the car,but you stil owe money to the bank on the loan , probably more than the insurance paid you , if the bank loan is secured on the car then you must tell them about the first car and they may want the loan paid up first and the money from the insurance is not yours.