car ownership after owner dies

[vr2turbo]

But Cars always depreciate in value. Whatever owing, after auction may not be enough to cover, maybe the asset become liability.....
Only thing now is to find who will inherit it, then calculate whether worth the take over. Either inheritor or guarantor will still have to cover.....

 

[ddv_nk12]

Oic. Buying cars can get so complicated. Lol..

 

[nappx]

if i not mistake..got insurance cover, if in case buyer died..that mean they no need to pay...if i not mistake..

 

[D7zul]

i think only comprehensive insurance cover if d owner died..

but if the car still got loan, of coz have comprehensive insurance..

check with the insurance company

 

[ddv_nk12]

If this happens, who will get the car? Bank or heir?

 

[vr2turbo]

if i not mistake..got insurance cover, if in case buyer died..that mean they no need to pay...if i not mistake..

If car Insurance, cover car damage only. If buy passenger liability, then covers passengers also.
For loan, I think got to buy additional cover like in housing loan. If anything happens to the owner (died) Insurance pays the balance of amount owing to the bank, but this is different cover, I don't think it is included in main car insurance....

---------- Post added at 06:04 PM ---------- 6 hour anti-bump limit - Previous post was at 05:57 PM ----------

If this happens, who will get the car? Bank or heir?

You mean if got insurance cover, then the heir will inherit loh.....

 

[muzhaffar]

check with the bank..some bank offer insurance coverage for the owner. means if the owner pass away, they will waived the existing loan. i take it when buying my car. in case the person took it, no need to pay for the loan balance anymore. even some personal insurance company foce the borrower to take it. they say that it will cover serious illness which lead to the incompetence to work or death. if you're suffering by one of it, they will waive the existing balance. if not mistaken it some sort of Payment Protection Insurance. kindly check it with the bank first

 

[DavidCole]

Agree with muzhaffar, in case the person took it, no need to pay for the loan balance anymore. even some personal insurance company foce the borrower to take it.


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[jimmyae101]

heard that after owner die...d car cant sell off or change to another ppl name...?it is true?happen on my side after my dad die 15 year ago,his super bike cant renew insurance,renew road tax or change name to me,bla bla..now i ride d bike without road tax and insurance for 15 year...been caught in road block too few time...kopi lo d jpj and police...

 

[alonso]

heard that after owner die...d car cant sell off or change to another ppl name...?it is true?happen on my side after my dad die 15 year ago,his super bike cant renew insurance,renew road tax or change name to me,bla bla..now i ride d bike without road tax and insurance for 15 year...been caught in road block too few time...kopi lo d jpj and police...

15 years ride ur bike without roadtax insurance :rolleyes: everytime if roadblock must kawtim lehh?
u must got a lot of money bro jimmyae101

 

[vr2turbo]

Unless transport to Sepang during weekends and have fun with it.......