Hey guys, I'm wondering if anyone has first hand experience with this.

I'm buying a winter car today. I want to take the collision insurance off of my Evo. However, according to Mitsubishi you're not allowed to while it's being financed (I'm still making payments on it).

According to my insurance agent (State Farm) people do this all the time regardless of lease/loan payments still being made.

Does anyone have first hand experience with financing through MMCA and removing full coverage insurance from the vehicle while it was being financed?

 

get parking insurence. It drops all the coverages but covers it incase of theft/damage (check with your insurence though to see whats coverd). I dropped to parking insurence while i was in afghanistan then came back, called the insurence up and told them to put full coverage back on. I blew the engine a few months back so i called the finance company and told them it will be parked for about a year and got permission to drop to parking insurence again.

 

Yeah doing anything out side of what MMCA wants it a PITA. Anyway why the fart would you not want to drive the Evo in the winter? You are missing out a raging boner amount of fun

 

Bobby, I did it several times, you still have full coverage on the car. MMCA never said anything. My inurance agent said sometimes the finance people call and you have to get your insurance to talk with them, but I had no issues with statefarm. I did it for two winters.

 

Thanks Dave. That's more or less the answer I was looking/hoping for!

Blizzaks + Rims = $900 for just tires and steel rims and good for about 3 winters.
1994 Ford Taurus 3.0L V6 with 64,000 miles = $500 - insurance savings - gas savings. Good for 4-5 winters and it makes my Evo worth more when I have to decide to buy out my lease or get Evo XI.

 

^Plus evo stays nice and clean and lower mileage which equals savings if you want to ever sell it.

 

Bobby, I have stored cars while financing them, dropping collision, which is the major expense. Never had a problem. I am with State Farm and dropped collision with them last winter when I stored my Evo. I don't know how Mitsubishi is going to find out that you are storing your Evo and dropping collision. Plus, if you keep comprehensive on the car, the car is insured from theft or fire. Like Dave said, it should not be a problem.

 

Yeah... but.... screw logical thinking. It's so much more FUN the other way lol.

Probably more than that too, unless someone knows of where to get steelies, please let me know.

 

You will not find steelies that clear our brakes lol.

Rotas are our winter rims. Or stock rims and buy good/better rims.

 

Hey! I came here to the consensus from a larger group of owners. Not two guys I know on a first name basis (j/k). Thanks again guys.