California
I am buyer, my son co-buyer for car purchased from dealership June 2010. DMV lists car under my name OR my son's name. Only my son drove it. I thought he got insurance, but somehow he "forgot". Then he totaled the car - only he was involved, nobody else - and he was not hurt, nobody else was hurt or involved, and there was no property damage either (car lost control on freeway and rolled over). The officer at accident was going to give him ticket for not having insurance, but then he gave him a few hours to call him and provide him w/insurance policy#. So my son got insurance over phone that day - it does not cover the accident of course, but he didn't get a ticket.
The car is totaled, and he still makes monthly payments since otherwise his and my credit get screwed.
The DMV sent a form today to suspend his and my license if we don't provide proof of insurance (nothing to do with accident - DMV records just have no insurance reported on car yet - we can provide the insurance he got on the day of the accident, which my son is still paying even though he cannot drive totaled car.)
Questions: 1) Do we need to submit a form to the DMV that he had an accident even though nobody else was involved - or will officer do this? If we need to fill out such a form, will he need to provide insurance info, which he did not have at the time of the accident until a few hours afterwards??
2) Does he still need insurance now that car is totaled and not drivable?
3) Does the accident need to be reported to finance company? What consequences would that have with them?
4) Could he sell this totaled car for parts, perhaps to insurance company (gmac)
Ahhh.. last time I helped my kid out with something like this. Thought he could handle the responsibilities, and now he's learning the hard way - and so am I.
I am buyer, my son co-buyer for car purchased from dealership June 2010. DMV lists car under my name OR my son's name. Only my son drove it. I thought he got insurance, but somehow he "forgot". Then he totaled the car - only he was involved, nobody else - and he was not hurt, nobody else was hurt or involved, and there was no property damage either (car lost control on freeway and rolled over). The officer at accident was going to give him ticket for not having insurance, but then he gave him a few hours to call him and provide him w/insurance policy#. So my son got insurance over phone that day - it does not cover the accident of course, but he didn't get a ticket.
The car is totaled, and he still makes monthly payments since otherwise his and my credit get screwed.
The DMV sent a form today to suspend his and my license if we don't provide proof of insurance (nothing to do with accident - DMV records just have no insurance reported on car yet - we can provide the insurance he got on the day of the accident, which my son is still paying even though he cannot drive totaled car.)
Questions: 1) Do we need to submit a form to the DMV that he had an accident even though nobody else was involved - or will officer do this? If we need to fill out such a form, will he need to provide insurance info, which he did not have at the time of the accident until a few hours afterwards??
2) Does he still need insurance now that car is totaled and not drivable?
3) Does the accident need to be reported to finance company? What consequences would that have with them?
4) Could he sell this totaled car for parts, perhaps to insurance company (gmac)
Ahhh.. last time I helped my kid out with something like this. Thought he could handle the responsibilities, and now he's learning the hard way - and so am I.