Can I Get a Car Loan In Ohio If I Have an SR22?
Reader’s Question:
I am required to carry an sr22 certificate on my auto insurance but I just want to know if this is enough to get a car loan? Please help. I live in Ohio.
Rico
Thank you for asking Rico.
SR-22 certificate is the insurance required for an Ohio state liability . It is not physical damage coverages of collision and comprehensive that most financial institutes will require you to have on a car if you have a loan or lease to pay on whether the car is a new used one or brand new one.
You can contact your insurance agent about carrying the required insurance for the SR-22 or the financial responsibility certificate. You may also ask them about the physical damages coverages that would be required by a lien holder when you purchase a car. You should be able to get both types of coverages to maintain what the state and lien holder will require of you.
If you cannot get both types of coverages with your current insurance provider you may shop around online for other insurance companies that provide it.
Goodluck!
MariCAR
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