my boyfriend is giving me his car- it is not paid off yet so I would resume payments. How do we go about in transfering titles and ownership? I have never done this so dont know where to start. A lawyer doesnt need to be involved right?
Another thing is that does my dad need to be a co-owner is he is going to be the one buying insurance for me on the car?
2006-09-05 16:33:42 · 4 answers · asked by tooxswt 2 in Cars & Transportation ➔ Buying & Selling
Contact the lender that will need to change payments over to you if you qualify for the loan. No you don't need a lawyer. Anyone can buy auto insurance even if they don't own the car (it would help matters though if anything did happen to the car). You could just work something out with him on the side but I wouldn't recomend it.
The moral of the story is contact the company he makes payments to and see if they are willing to help.
2006-09-05 16:41:36 · answer #1 · answered by Craig 3 · 0⤊ 0⤋
You need to get your own loan to pay off your b/f's loan. Auto loans are not assumable; you won't be able to transfer title to the vehicle until his loan is paid off.
Your father does not need to be a co-owner to pay for the insurance. However, if you can't qualify for your own loan and your father needs to co-sign, he'd be stupid to not have himself on the title.
2006-09-05 16:37:08 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
First you have to go to where ever the car is financed at, then see if your credit is good enough. If so they can put in your name and no if you do have to have your dad to cosign the insurance can still be in your name
2006-09-05 16:42:11 · answer #3 · answered by soggybottomboy5005 2 · 0⤊ 0⤋
yes yes and yes
2006-09-05 16:35:58 · answer #4 · answered by DONALD L 2 · 0⤊ 2⤋