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Yesterday I was out with my bf and he drove me to some motorcycle shop and out of nowhere he asked me to put a bike under my name for him.

It's a $10,000 bike. I got approved for it, but I told him I had to think about it. The way he was explaining it to me made it seem like there would be no issues but of course he's gonna sugar coat it.

Bottom line is, I'm a full time student, I don't work and Im only 19 and I have good credit. I wanna do it for him but I've seen enough courrt shows to know that these things don't always work out.

Any suggestions...

2007-03-15 05:11:47 · 50 answers · asked by Anonymous in Family & Relationships Other - Family & Relationships

50 answers

No i am 2 years your senior and alot changes in relationships especially if you put your name and credit on the line for a boyfriend, watch day time court!! everyone in there was " in love" and wasnt thinking at the time they bought it. DO NOT LET emotions get the better of your judgement,
And if you do decide to still do it..... Get something in writing stating that it is a gift..... and have him sign!
---------if he doesn't then you have your answer right there... you wont be with him long....
ALWAYS REMEMBER CREDIT IS YOUR LIFE>>>>its the determining factor for a house one day, a car, a credit card in emergencies.......
Don't damage it over something like this, especially in ten years when you are still trying to re-construct the damages to your credit....

2007-03-15 05:15:14 · answer #1 · answered by gsxr650 3 · 5 0

Terrible idea, these things never work out and you know it. Now you are legally liable for the vehicle. You need to pay the loan and if any accidents occur you may be liable for the portion or all of it.

The bf seems like a looser for even asking. Yes he may have poor credit and needs help, but he got bad credit for a reason. If he has no credit then he does not know how to be responsible for it.

Needless to say the relationship will also have a problem. He may resent you for not helping him, but if you do help him he does not respect or care for you enough not to put you on the spot.

Your 19, this guy is not good for you. He may be using you, as difficult as it may be you need to open your eyes for what is what. If you were my sister, or daughter I would ask you to start looking for another, he does not deserve you.

Hope this helps and sorry for the frank answer.

2007-03-15 05:19:25 · answer #2 · answered by Sanj M 1 · 0 0

DON'T DO IT !! If his credit is so bad that you have to put it in your name, what makes you think he's credible to make payments for a month, let alone 4-5 years ? Yes, you are right about the court shows, I just saw this same thing on Judge Judy a few days ago.. He broke up with her after 2 months and didn't make 1 payment, but still had the cycle, being in her name, she was stuck with payments and late fees and NO boyfriend. Boyfriends will come and go, if he wants to break up with you because you don't sign, good riddance, he was a user anyway !!

2007-03-15 05:18:46 · answer #3 · answered by JEFF 1 · 0 0

NO, NO, and NO again!!! NEVER EVER PUT SOMEONE ELSE's VEHICLE IN YOUR NAME!!!! It would be yours and if he gets in an accident you will be responsible and your insurance rates will go up, and you will end up paying for a long time. If he does not have credit to get it on his own--there is a reason for that. If he kills someone on it, they can come and sue you. If you do this, it will be the worst mistake of your life. Please do not do this! You can't afford it, and I guarantee that he will not make all the payments. If he gets mad at you for not doing it-- he is only using you for this bike anyway. What happens if a year from now you want to buy something? They will look at this loan, and it may disqualify you from getting your own loan for a vehicle in the future--because you already have a loan out. I could not stress enough--- PLEASE DO NOT DO THIS!!

2007-03-15 05:21:03 · answer #4 · answered by Audrey C 2 · 0 0

i think that if he wants the bike he should put it in his name. not only that i know how much you probably care for him but since you are only 19 it would be a shame for anything to happen to that bike and the next thing you know you have to quit school to pay for it or impose on your parents who worked so hard for their money but now they would have to bail you out of trouble with it, and then they may not afford their mortgage. i think that in life sometimes we forget to think about all of the other people that our decisions can effect. I'm not saying this will happen. I am saying that i;ve seen it happen within my own family, and do you realize that if he decides to stop making his monthly payments because of an argument or anything between the both of you then the payments are up to you and nothing happens to him. Not only that even if you are dating like 3 years, you are still not married legally so he could ditch you at any moment, but he still has a bike. Not that he would, i'm just tryin to give you scenarios. hope it works out. and don't forget about all of the consequences of our action in the "WHAT IF" factor.

2007-03-15 05:19:49 · answer #5 · answered by Lovely 4 · 0 0

I wouldn't do it. Obviously he's going to be driving it. Can you even drive a motorcycle? The insurance might be a nightmare too. Both of you will have to be on it since he will be the driver and you are the one with the name of the paperwork. If he cannot do it himself, then he doesn't need it at all. Don't do it. If you decide to do it, write up a contract that he is aware that he is financially responsible for the vehicle and the insurance. If he stops making payments, the finance company won't look at it because you are financially obligated. But at least you could possibly take him to court for missed payments. It's too stressful for you. You have more important things on your plate! Plus, if you tie up your credit with this, what if you really need something that you need your credit for and you are then over extended???

2007-03-15 05:17:47 · answer #6 · answered by A B 2 · 0 0

If you want to purchase a motorcycle for your boyfriend under your name then you better get something in writing from him if you two plan to make the payments together or if he says that he will make the payments himself. Get proof in writing. You might also want to think about any kind of resposibility that you might have if he were to get into an accident. If he does not have a motorcycle license then you may be responsible if he is in an accident and the motorcycle is in your name. I would do some checking into that before you make your decision. $10,000.00 is alot of money for a motorcycle. Ask him if he can choose one that is cheaper. Does it HAVE to be new?

2007-03-15 05:18:50 · answer #7 · answered by unknown2u 2 · 0 0

OMG, NO!!! I was conned into doing this for a guy and it totally messed up my life. Your credit could be ruined over this if he doesn't pay for it. Like you said - you dont even work. How could you possibly make the payments if you had to?

I dont even see how they approved you since you dont have a job.

Maybe you could tell him that they called you today and said no or something. That way it wouldn't cause a rift between the two of you.

2007-03-15 05:16:34 · answer #8 · answered by I know, I know!!!! 6 · 0 0

yes, dont do it!!! beware!! you seen the court shows how do they end up?? there is a reason why he cant get it in his name right? these are signs. it ill be a huge mistake and thats a lot of money. sugar coat isnt the word i would use but just dont do it. you will pay for the rest of your life for a dumb mistake at age 19. credit is the key to everything you need in life like cars, house, apartments jobs, lights,gas, deposits, loans intrest rates etc.. if you screw up your credit now it will take years to fix and you pay and lose out on things.

2007-03-15 05:21:10 · answer #9 · answered by sassy 3 · 0 0

Don't be stupid, girl!
He leaves you, and he has the bike- you have the bill. What would you do with it, if you had to have it removed from his possession. You are a student, and don't need your credit ruined. If he wants the bike, he can get it (or find ANOTHER sucker to get it for him, no offense, right?)
This will be the biggest mistake of your life and a headache for you.
PLEASE DON"T DO THIS!
Read Suze Orman "Ten Most Stupid Things Women Do" or something like that.
He's using you.

2007-03-15 05:17:04 · answer #10 · answered by longleggedfirecracker 3 · 0 0

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