Hey Everyone,
I am serioulsy looking in to a 71 vette at the moment. When I inquired about an insurance quote for the vehicle I got a response saying that most people dont get comprehensive/collision when the premium dosent meet the value of the car. I live in Louisiana and have Geico as my carrier. Would it be considered illegal to take a personal loan out for the amount of the car to buy it outright from the seller, and put just liability on the vehicle? I was told from word of mouth that your only supposed to do that if your vehicle is totally paid off, but all my previous loans have been used car loans through banks. This would be a personal loan. Please Help

Much Appreciation, Paul