question

[TheBoyNextDoor]

Originally Posted by evldave

Depends on the loan the grandfather has. Some have a 'death' clause that automatically pays off the loan, others must be paid in full upon death. Most can't just be transferred because the banks need to run a credit check.

The best thing to do is have grandpa get one of those cheap $10/month "We'll pay it off in the event of death" insurances - then the car is paid off and grandpa can leave it to him in his will, otherwise the bank might take back the car...

what kind of insurance would that be ?

do you know the exact name ?