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Is this odd?

Posted by on Mar. 26, 2017 at 8:16 AM
  • 3 Replies

We recently purchased a SUV and paid cash for it. It was pricey but why should we be questioned and just wondering what's the reason for there 'caution'??11 We were asked who our lender was before we could proceed to get insurance on it. I answered that we didn't get a loan we paid cash. The agent said that they would have to contact the lender. Why is that? They did a credit ck on us and just wondering why? Is there anyone that has had issues with car insurance? We have good credit and have always paid our insurance bills on time and pay them 1 year in advance for home and every 6 months for autos. If we could pay for 1 yr and save money we would but they only allow 6 months. 

by on Mar. 26, 2017 at 8:16 AM
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mommytoeandb
by on Mar. 26, 2017 at 8:19 AM
We paid cash for our last vehicle. We have freezes on running our credit so they didn't get to run ours (they asked but we're fine with no). The dealership let us take it home and bring the funds the next day. No issues with insurance.
cat4458
by New Member on Mar. 26, 2017 at 8:35 AM

They didn't ASK us if they could run a ck, they just DID. We have been waiting for2 days now without insurance. We don't have... to drive it (we have 2 other vehicles), but 'it's just the idea' that if we needed to we can't. We have other ways of keeping our credit score up with a credit card but I have heard that it harder for people who pay cash to keep their credit score up because u don't go with the flow of the rest of the world and take out a loan. If we don't want to sit in front of a loan agent, that's our perogitive. I just don't know how to word what I am going to say to the insurance agent on Monday. Any suggestions? I wish there was a way to find out on line what would be a fair rate

Juniper53098
by June on Mar. 26, 2017 at 2:55 PM

Is this a new insurance company for you? If so, the credit check was to see if you were at risk of not paying your insurance bill. As far as asking for the lender information, most of their customers probably have loans on their vehicles. Just bring in the paperwork from the sale. That should show that it was paid for in cash.

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