My concern is what happens when the person who put his car title for collateral either dies or has put some stolen car title, or after putting his car title for collateral lost it etc., what would happen in this scenario?
Is there a concrete system on the claims re whether the claimant dies or not capable to claim anymore their car for the reasons that they are not capable on paying the terms or so. thanks for the answer in advance
The loans will be covered by insurance. moreover, car owners must have a workable insurance before the will deem qualified for the loan.
so the car insurance company will cover for the car in case of an accident.
ohh I see, so their will be a collaboration between several insurance company on each country.. thank you for this.