My mother, who lives in Florida, wants to buy a new car for me before I start commuting for school again. The vehicle I have now isn't very reliable anymore, to put it nicely. My mother's credit is impecable. Her Beacon score is over an 800. My credit is extended and although not bad, not nearly good enough to get the same deal she can on APR. So, the dealer has suggested that she buy the car outright to take advantage of the low APR. Adding me to the loan will not benefit her, at all! Problem is, NC has a "Straw Purchase" law. Now Im not sure what the exact contents of the law are, but I know it means that one person is not supposed to buy a car for another. Also, there is a law in NC that the vehicle insured, has to be driven by AND registered to the same person. So, I cant insure a car that my mother bought for me. And in NC, a dealer can't sell you a car unless you have insurance! How do I get around this?? I have to get a new car and my mother is not moving to NC anytime soon!
2006-08-09 05:48:00 · 6 answers · asked by carolinagrl 4 in Cars & Transportation ➔ Insurance & Registration
You can get around it if she buys it. My brother lived in SC and my parents in another state, and both of their names was on his car, their credit was better, so better rates also, just both names was on the title and registration. But the insurance was in his name only...no big deal. NC can't tell you that your mom can't buy you a car...that's crazy! Go to FL and do it. Buy it down there, then later on transfer everything to the "great state" of NC! Just make sure both your names are on the loan and registration!...Let the goffy NC dealer lose a sale!! :D
2006-08-09 06:01:18 · answer #1 · answered by Anonymous · 0⤊ 0⤋
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2016-09-24 21:26:06 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Just buy the car and title it in FL. As a student, you don't have to reg or title in NC if FL is your home state.
There can't possibly be a law that states the car must be driven by the registered owner, though! That would kill of the rental industry!
If you're driving your Mom's car, nobody is going to question you anyway.
2006-08-09 07:33:31 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
In Florida you can get a car as a gift from a family member. Why not have mom buy the car in Florida and give it to you as a gift.
Then you should be able to register it and insure it in NC.
Call the D.M.V. in NC and see if this will work first.
2006-08-09 05:54:49 · answer #4 · answered by nana4dakids 7 · 0⤊ 0⤋
Although your mom has purchased the car, you should be able to put your name on the title with hers. That way you can get insurance. I'm not 100% sure but I think it is doable.
2006-08-09 05:53:49 · answer #5 · answered by Newt 4 · 0⤊ 0⤋
Can she just send you the money for the car and then you go buy it outright? Otherwise try putting two names on the title but use your address for both of you.
2006-08-10 01:03:45 · answer #6 · answered by Thundercat 7 · 0⤊ 0⤋