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Author: blackmare Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311078  
Subject: Re: my CC situation (long) Date: 9/4/2003 6:36 PM
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Instead of selling your car, can you just park it? and let the registration and insurance lapse on it until you know if you will need it again?

This sounds like a good idea, but probably isn't, really.

First of all, there are legal liabilities. I know it's nuts, but if someone steals the parked car and causes any kind of damage to the car or to anyone else's property, you could be out all the repair expenses AND in trouble with the law for not having insurance. Ridiculous, but true; a case of this was recently in the news. Someone else steals and crashes your car, and YOU get arrested for lack of insurance and registration.

Then there is the advantage of having a second vehicle on hand in case of emergencies--repairs to the other vehicle, or whatever. If you let the insurance and registration lapse, it's asking for trouble if you suddenly find yourself needing to use the car.

Congrats on how well you're doing so far! You'll get this debt kicked in no time. :-)


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