I’m financing a car through a loan company & I got into an accident
1 attorney answer
Sometimes, your finance company will put its own insurance on the vehicle to protect itself if it is notified that there is no insurance on the vehicle. If so, it would protect the finance company and pay it for any loan amount that is due. However, you would not receive any equity amount if there is any. You may want to find out if your lender placed its own coverage on the vehicle. https://www.creditkarma.com/auto/i/force-placed-insurance/
If there was absolutely NO insurance on the vehicle at all, then you are out of luck. The only way to get out of the loan is to maybe file bankruptcy.