Doble inaurance ? Is he right?

Question

Answer

Call to clarify, but with that much a month I’m guessing the loan needed him to get a private car insurance on the loan incase he can’t pay in the future. The bank is covering themselves. This happens with less than 20% down on a house too. 
Also random thing I just learned...don’t go to big insurance companies (geico, liberty mutual etc). I went to an insurance agent in town, and she broke down what I was actually paying for through geico and it was scary. I always shopped for the cheapest price which was naive, I never asked details. She got me a cheaper car/home bundle but has more coverage on both

Answer

What you’re paying the dealership is the loan. You need car insurance on top of the loan amount which should be full coverage since there’s a loan for it. It shouldn’t be two car insurance companies though.

Answer

the dealership is getting 420 for the car loan and the insurance is getting the 120 for the car. you may want to call and clarify with the car insurance company

Doble inaurance ? Is he right?

Let's Glow!

The Top Baby Tracker App: Embrace New Beginnings with Tender Care

The Top Fertility Tracker App: Your Path to Achieving Pregnancy

The Top Pregnancy App: Nurturing Your Journey to Motherhood

The Top Period Tracker for Empowering Your Menstrual Health Journey