By in debt - 01/11/2018 13:30

Today, a tree fell on our 3-month-old family car. Today, I also learned that my husband never insured it. It's probably scrap, and we still have to pay it off for the next 5 years. FML
I agree, your life sucks 3 054
You deserved it 563
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Top comments

CurmudgeonCrunch 7

Actually once they find out it’s scrapped they’ll expect payment within 2 weeks usually. Because that’s a secured loan that’s no longer secured.

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Comments

thehaystackerine 20

bull shit, you cant get an auto loan without proof of insurance.

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draghkar 18

Homeowners insurance will be the one paying this anyway.

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KingAdrock 16

I'll take "Shit that never happened" for $500, Alex. Lenders that give secured loans on property (whether a car, boat, house, plane, whatever) will require insurance on said property. They want "their" property protected. Any bank that doesn't do this is run by morons. But then again even if you somehow *didn't* have insurance AND your lender was too stupid to check on it... then stop paying and hand them the keys!

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sup 3

Hi, OP here. Couldn't remember my password, so had to make a new account! Anyways, to clarify - I live in Canada, and it was a used car. We took out a personal loan, then used it to pay for the car, so we're on the hook for the loan even though the car is gone. Here, we technically are supposed to have insurance before we drive a car off the lot, but I think some used car dealerships don't really bother to check.

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