repo and aftermath

[Genenco]

OK Durango was towed..Heh! (Probably screwed tranny and they didn't get the keys!!)

Now, the question is:

Do I have to continue maintaining insurance till it's sold at auction, or can I drop it?

[StaciMM]

If you no longer have the vehicle-you can drop the insurance. It is in their possession, they are responsible...

[StaciMM]

(I went online and cancelled the truck the same day that we took it back to the dealership. Didn't want to pay a $.01 more than necessary!)

[HRx]

Did you remove the license plates of the vehicle first? If you haven't cancel them soon.

Good Luck!

[StaciMM]

Good point Todd!

In GA, if you cancel insurance and don't cancel the tag, you'll get a notice in the mail regarding a fine for lapsed insurance.

[Genenco]

I looked at the DMV website, but there's nothing that tells me how..But I will drop the ins...

Allright, cuts my costs more!!

[Lightning]

<DELETED>

[Genenco]

No lightning, you're not allowed to speak.Not until your "Master" finds out if you accept his offer....

Now hush and get dinner ready

[sunshine08]

Word of advice - turn in the tags first (get & keep receipt) and then cancel the insurance..... Also follow this up with a letter to the lender ref. insurance cancellation.....

[sydneynoel]

I have a question about this. Although it's old...it will pertain to me. We too are going to surrender our Dodge Durango next month. I'm current on payments but we have decided let it go once we file. It costs too much and we owe too much. I was prepared to cancel the insurance once we give it back but I didn't realize that I needed to remove the tag and cancel it as well. My question is who do we call to cancel the tag? Where do we take the tag? I'm glad I read this post because I wasn't even aware that we needed to do anything with the tag.

[CindyLou]

You will call the DMV and tell them the situation and they can tell you what your state's process is. In California its called a "Release of Liability" and it can be done online. Its different if different states. In CA you don't take the tags. You complete this form and you are done. So check with your DMV and they will guide you through the process. Its the same as when you sell a car. The ownership is transferring. Only this time the new "owner" will be the finance company instead of an induvidual so when you fill out the paperwork you willl need the name and address of your finance company and you will put that anywhere it asked for "new owner'' Good luck.

I am glad you asked this question because many people make the mistake of not doing anything and it can make a lasting effect on your driving history including a suspended DL in some states for failing to have insurance on a car that is titled in your name due to the lag time of the company and the redemption period.

[sydneynoel]

Wow, thanks for the info. Glad I caught this before I gave up the vehicle.

[lrprn]

Wow, thanks for the info. Glad I caught this before I gave up the vehicle.

Glad you got the answer you needed, Sydney.

A request - just because your question is related to a old thread topic doesn't mean it's ok to tack it on, especially to a thread that's as old as this one. Your question would have been answered by Cindy just as well if you had posted it in its own new thread. Thanks for considering doing this in the future - we sure appreciate your participation in our bk community!