OLD REPUBLIC INSURED AUTOMOTIVE SERVICES, INC.

Frequently Asked Questions

Are the Loan Contract and the Bill of Sale the same thing?
The loan contract or security agreement shows the amount you have financed, when the payments are to begin, term of the contract (loan) and amount of each payment.  It will also list any items financed with the purchase of the vehicle, such as extended warranty, credit life, disability policies, tire and wheel coverage or maintenance protection plans.  These items are cancelable and the unused portion of these premiums will go toward reducing the amount of your loan.  The bill of sale/buyers order is your receipt for the vehicle purchase.  It will detail the date of vehicle purchase, the vehicle's odometer reading at the time of purchase and the vehicle identification number (VIN).  If you do not have a copy of this document, a copy can be provided to you by your lender or seller of the vehicle.