# Accident on a TLC car on Finance



## rhossai001 (4 mo ago)

Hi, I have a financed car for toyota and I am renting a TLC plate and my insurance is laibility. recently my car was damaged by a Martin brower truck and they send me a cheque for repairs. now the catch is that they send the cheque under my name AND my lein so in order to case it I have let toyota know about it and they have to endorse it. But toyota Financial services had an agreement that I keep a full coverage. So what Should I do. Any idea on how to get the endorsement with out telling them that I donot have full coverage.?


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## BigJohn (Jan 27, 2016)

So you got caught with your pants down doing something you agreed you would not do and want us to help you circumvent what you contractually agreed to. Is that correct?

You made a conscious decision to play Russian Roulette and you lost.

The car loan will be called and must be paid in full. You will be marked as a high insurance risk. 

Time to get some great walking shoes and bus tickets.

Yes, some will say I am being harsh. NOPE, just pointing out your stupid conscious decision that you willingly and knowingly made.


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## Older Chauffeur (Oct 16, 2014)

BigJohn said:


> So you got caught with your pants down doing something you agreed you would not do and want us to help you circumvent what you contractually agreed to. Is that correct?
> 
> You made a conscious decision to play Russian Roulette and you lost.
> 
> ...


@BigJohn , I agree with you regarding the OP’s not following the terms of his contract. Very stupid decision on his part, especially considering that he could be left on the hook for what could be many times the premium for collision coverage. But since the insurance coverage for the driver who caused the damage has paid for the repairs, why would the subject even come up? I’m wondering how he avoided his insurance carrier reporting to Toyota Finance that he was not protecting their interest in the first place.
i appreciate all your contributions to the insurance threads here.


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## BigJohn (Jan 27, 2016)

Older Chauffeur said:


> @BigJohn , But since the insurance coverage for the driver who caused the damage has paid for the repairs, why would the subject even come up? I’m wondering how he avoided his insurance carrier reporting to Toyota Finance that he was not protecting their interest in the first place.


I think you missed the part that the check requires multiple endorsements, which is where his dilemma comes into play.

Yes, why didn't the insurance carrier report the insurance to Toyota? But it goes further: He is "renting" a TLC plate, which opens up even more questions and really if you think about it lends to further potential problems.


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## rhossai001 (4 mo ago)

First of all I don't wanted to offend anyone here but so far i received criticism for the BS insurance I had to buy to do TLC even though I wanted keep my geico full coverage and the earning honest income. Please if anyone has a solution regarding the matter share. No criticism please. i am not stealing or robbing. Also In NYC you cannot just buy a TLC plate. So do some due diligence reagrding TLC plates.


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## Older Chauffeur (Oct 16, 2014)

BigJohn said:


> I think you missed the part that the check requires multiple endorsements, which is where his dilemma comes into play.
> 
> Yes, why didn't the insurance carrier report the insurance to Toyota? But it goes further: He is "renting" a TLC plate, which opens up even more questions and really if you think about it lends to further potential problems.


I saw that a signature from the lienholder would be required. But Toyota Finance isn’t paying out any money toward repair of the vehicle. That’s why I wonder if anyone would look to see his coverage or who he’s insured by. If they have any concern, I think it would be making sure that the car is being repaired.


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## BigJohn (Jan 27, 2016)

rhossai001 said:


> First of all I don't wanted to offend anyone here but so far i received criticism for the BS insurance I had to buy to do TLC even though I wanted keep my geico full coverage and the earning honest income. Please if anyone has a solution regarding the matter share. No criticism please. i am not stealing or robbing. Also In NYC you cannot just buy a TLC plate. So do some due diligence reagrding TLC plates.


Obviously, you have not taken seriously the regulations and responsibilities of operating a TLC business. There is no such thing as BUYING a TLC plate. You have to follow all of the required regulations, procedures and rules. People who stoop to "RENTING" a TLC place are those not willing to follow all those regulations, proceedures and rules.

And if you try to say you can not make money doing all of that, there is no place that says you are guaranteed to be able to make money doing something you want to do.


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