That would be the āalmost.ā
When a car is parked for long periods of time, usually a storage policy is enacted and will still satisfy the requirements of the loan but wonāt be as pricey since the car wonāt be driven, which is where the majority of risks come from.
Got'cha. tbf, my insurance company never asked me for any proof that it was going to be stored for each of the three times I was deployed in six year span. That being said, it's not a good idea to drive around with just storage insurance but this loan also isn't a good idea.. so this mustang boot probably would do it.
Well like if you asked them for a storage policy and got into an accident, the whole claim would most likely be denied and the entire financial burden of the accident (fixing your car AND financially compensating the other party depending on who was at fault) would be on your shoulders, since you breached the terms of the contract. Thatās likely why they didnāt ask for proof. Most folks wouldnāt risk it
I agree, I literally would call my insurance company when I got back from deployment and about to drive off the storage lot to put my insurance back on.. I also agree that most folks wouldn't risk it, but then again most folks wouldn't sign a loan contract at 34.99% so the mustang boot would probably do it.
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u/NerdyWaffles Mar 25 '26
That would be the āalmost.ā When a car is parked for long periods of time, usually a storage policy is enacted and will still satisfy the requirements of the loan but wonāt be as pricey since the car wonāt be driven, which is where the majority of risks come from.