My boyfriend of 8 years is buying a car. The loan will be in his name only. But, the car is intended for me (he already has a manual transmission, this car is an automatic and I don't know how to drive stick shift.) He wants to know if I want to put my name on the title too. My name will most likely be added to his insurance policy.
What are the practical implications and legal implications of putting my name on the title when it's not on the loan? Any good reasons not to put my name on the title?
2007-12-29 03:43:20 · 6 answers · asked by Anonymous in Cars & Transportation ➔ Other - Cars & Transportation
Did you ask for Practical & Legal implications?
Practical....
I believe that if it is HIS car and he pays for it then your name should not be on the title...
If it is YOUR car and you pay for it then his name should not be on the title...
Legal...
if you want to take advantage in the legal system
let him put your name on the car title
then
break up
and then
get your "part" of the car... ...and let him keep the entire loan... ...(note, this action may require that 90% the value of the car go to your lawyer, but what the hell you'd get a free 10% value of the car)...
If you don't want to take advantage
then
see Practical (above)
2007-12-29 04:33:39 · answer #1 · answered by DM 4 · 0⤊ 0⤋
The difference is that in order to sell the vehicle if the title says his name "and" yours you both need to sign the title. If the title says his name "or" yours only one of you need sign it over when selling. Check with the insurance company for other reasons. I think in most states you need your own coverage especially when your boyfriend has 2 cars, they won't consider you a once in a while driver. I hope you appreciate your boyfriends trust in you, I could make a mile long list of friends that have given more cars away like this and don't care because at least she's gone!
2007-12-29 04:05:51 · answer #2 · answered by thebax2006 7 · 0⤊ 0⤋
Joint title is joint ownership. Anything happens to the car/ with the car you have equal responsibility. If it is his name only, it is to your advantage to just drive it (verify that his insurance will cover you especially if you live together) But the disadvantage is that if you break up you have no claim to the car at all. There are a myriad other instances to either have your name on it or not. Also you might not be able to put the title in your name at all because of the lein( in his name only) on it...check your dmv
2007-12-29 03:58:03 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If your name is on the title, when he leaves you for another woman, you'll be able to keep the car. If your name is not on the title, then you have no legal ownership claim to the vehicle. He can take it back at any time.
If your name is on the title, then you share the responsibility to keep the insurance and registration current.
2007-12-29 03:59:41 · answer #4 · answered by JetDoc 7 · 0⤊ 0⤋
The absolutely free reverse vin check sites generally provide fake information. To get real information, money will have to be paid. The free searches provide fake information so they can get your email address to send spam.
Stay away from shady reverse vin check sites, most likely you won't get any information after you make the payment. Not to mention you won't get a report and you won't get an answer if you try to call for a refund. Stick with a reputable reverse vin check site like http://www.reversevincheck.net that has been around since 1995.
2014-09-25 09:00:23 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Let him keep the title in his name. The ins will be much cheaper, unless you live together, then it goes up again.
2007-12-29 05:05:55 · answer #6 · answered by Bob H 7 · 0⤊ 0⤋