I co-signed a car loan for a friend of mine, he went to get the registration and all that but he couldnt register it unless I am on the insurance, and the registration. The dealer is threatening to take the car back from him if he doesnt come to the dealer proving that I am on all the necessary documents. Registration, and insurance. I am not driving this car at all and we also live in two seperate cities, and only did this to help him establish some sort of credit rating again, but this has ended up being a huge pain in the ***. One Idea I had was to write a bill of sale up saying that I have sold him the car and he is now the owner of the car, not me. I live in Calgary Alberta, in case insurance rules differ from province to province.
2007-01-26 18:04:16 · 9 answers · asked by boardbetty 3 in Cars & Transportation ➔ Other - Cars & Transportation
Insurance ? only if you will be driving .
Registration ? yes, as co-signer you are part owner
2007-01-26 18:15:27 · answer #1 · answered by kate 7 · 0⤊ 0⤋
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RE :Im a co-signer on a car loan, do I need to be on the insurance??
I co-signed a car loan for a friend of mine, he went to get the registration and all that but he couldnt register it unless I am on the insurance, and the registration. The dealer is threatening to take the car back from him if he doesnt come to the dealer proving that I am on all the necessary documents. Registration, and insurance. I am not driving this car at all and we also live in two seperate cities, and only did this to help him establish some sort of credit rating again, but this has ended up being a huge pain in the ***. One Idea I had was to write a bill of sale up saying that I have sold him the car and he is now the owner of the car, not me. I live in Calgary Alberta, in case insurance rules differ from province to province.
Follow 8 answers
2016-11-25 06:23:36 · answer #2 · answered by ? 6 · 0⤊ 0⤋
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RE :Im a co-signer on a car loan, do I need to be on the insurance??
I co-signed a car loan for a friend of mine, he went to get the registration and all that but he couldnt register it unless I am on the insurance, and the registration. The dealer is threatening to take the car back from him if he doesnt come to the dealer proving that I am on all the necessary documents. Registration, and insurance. I am not driving this car at all and we also live in two seperate cities, and only did this to help him establish some sort of credit rating again, but this has ended up being a huge pain in the ***. One Idea I had was to write a bill of sale up saying that I have sold him the car and he is now the owner of the car, not me. I live in Calgary Alberta, in case insurance rules differ from province to province.
Follow 7 answers
2016-11-09 06:31:42 · answer #3 · answered by ? 6 · 0⤊ 0⤋
IN my case my friend was the co-signer, and he didn't even have drivers license, but he had to be on my registration card(that is the law). With the insurance - I just told them my friend was from Florida (I live in PA), and that's how I got rid of that problem. I didn't lie, but your friend can try!?
2007-01-26 18:25:08 · answer #4 · answered by khachik1975 2 · 0⤊ 0⤋
i lived in ohio and my ex husband was a co signer on my car and he didnt have to be on my insurance.maybe you should talk to the insurance company and tell them that you dont drive the car and that you live in a different city and see what they say.maybe that will help out.
2007-01-26 18:18:17 · answer #5 · answered by diondra1216 1 · 0⤊ 0⤋
in purpose for a cosigner <---i live in the USA by the way, is in case this friend of yours fails to pay his car payment. Then you are ultimatly responsible for the car. you will need to be on the insurance im guessing just in case he gets into an accident. Also DO NOT GET A BILL OF SALE FROM HIM. if you do you WILL be responsible for this car. Even if he is driving it. If he gets into a wreck then he will go to jail for driving a stolen vehicle. If he gets pulled over he will go to jail for driving a stolen vehicle.
2007-01-26 18:16:11 · answer #6 · answered by Anonymous · 0⤊ 0⤋
you should purchase a vehicle for 2k - why bypass into debt once you come back up with the money for for a vehicle. you could't get a posh vehicle, yet for 2k you'll locate a sparkling vehicle that would get you round. what you do is seem for low mileage automobiles. many years in the past i purchased a vehicle with like 15000 miles on it for $1300 - those automobiles are available, yet you should seem for them.
2016-10-16 04:12:50 · answer #7 · answered by faulkenberry 4 · 0⤊ 0⤋
Try https://tr.im/NajSu
2016-07-06 15:50:23 · answer #8 · answered by ? 5 · 0⤊ 5⤋
I found this site very helpful to compare and save on my insurance, you can try it to: http://WWW.COVERAGEHELP.NET
2014-06-03 05:25:12 · answer #9 · answered by Anonymous · 0⤊ 7⤋