Does a person have to a be a co-signer to have their name on a vehicle title if the vehicle is financed?

Question

For cost purposes I want to remain on my parents insurance policy because I am only 18, but I financed my car on my own and our insurance company wont insure me unless my parents are on the title.

Answer 1

You would have to check with the company you are financed through. Some companies will allow a co-owner on the title who is not on the financing... some will not.

Are you still living with your parents?
If you are not, you will not be able to be on their insurance policy. (Unless, of course you are a college student)

Answer 2

Your parents do have to be co-signers to be on the title while it is financed. You will not be able to put their name on the title until it is paid off. I learned this the hard way also. My dad co-signed for a car but 2 years later I refinanced it on my own. We kept it insured with the same company and never told them anything, didn't know we had to. Then when I put it on my own policy with the same company it came up and they said that if we had an accident and totaled the car then they would not have had to pay for the damages. Sorry.

Answer 3

The insurance only covers vehicles owned by the named insured or spouse. If anyone else out there is getting a car insured that their parents don't own it's either because of co-ownership or an insurance company that has yet to catch on.

Answer 4

My car is in my name and I am on my mother's insurance. Most insurance companies do require your parents to be on your car if it is finance. I don't owe anything on my car, that is why I can be under my mom's name. I would call around to other insurance agencies.

Answer 5

no all you have to do is sign the third party agreement on the backside of a bank contract and you can be on the title and registration