Can I purchase a brand new car under my name, but insurance coverage under my dad's name?
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Can I purchase a brand new car under my name, but insurance coverage under my dad's name?
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I have family insurance coverage under my name for a Honda Civic, and my dad's name for a Mercedes. I am planning to purchase a new BMW under my name. Can I purchase insurance coverage for the BMW under my dad's name, but have title of the car under my name? I am 22 years old and insurance for someone my age for a BMW is a killer! Any help would be appreciated! Thanks!
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Stingray
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Hi,
The problem is going to be with the insurance company.
Your rate is high for a reason, and that is young drivers tend to have more accidents than others, and that is why the rate is high.
If you want to do it by misleading the insurance company and there is an accident and you are at fault, there is a strong possibility you will have no coverage when they find out.
My suggestion would be to have the car registered in your dads name, and he could insure it cheaper and you would be covered.
When you get to the age where your rate is reasonable, you can have the title transferred into your name for the sum of 1 dollar.
Enjoy your new car and drive safely,
Darryl S. |
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Me
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You have money for a BMW but can't afford insurance?????? You are an adult and even though it would save you money it is time to do things like this on your own. If the car is in your name I am pretty sure you have to insure it.
BTW- What line of work is a 22 yr old in to afford 3 cars, 2 of which are luxury cars??????? |
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John Paul
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Insurance is not car insurance it is driver insurance. What would the agent say your son or daughter was driving your car when it wrecked? NO. You will have to insure the car in your name to buy it. The bank would not have it any other way. You like nice cars I know 1,800 a year insurance is not going to keep you from buying it! Just a couple more years drive safely. |
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RRRRRRRR
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SORRY BUT I DO NT BE IV U CAN |
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rockergirl20032003
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No, I've had two cars (neither good cars), and I was under my parents so I had to register my cars under my parents name. |
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the pink baker
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It depends on what state you live in. Where I live if the car is registered in my name, the insurance policy is in my name. |
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sickand tired
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yes if your dad agrees to it |
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Scott
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Great choice of car, I've had 2. The CPO program is awesome, though, and is a better option than new, IMHO. |
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totallylost
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Kim, the answer to your question has to come your insurance agent, because different companies have different rules. Some companies have very strict rules, who ever the car is titled to has to have the insurance in their name. You can add your father on the title along with you, and that will solve that problem. Then some companies, it doesn't matter who's own the car, as long as they are living under the same roof.
To make sure you don't run into any problems, call the agent, and they will be glad to tell you whether the title also should include your Dad. Congratulations on the new car, and please be careful!
God blesses us all...... |
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dodge man
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his name will have to be on it somewhere ,for them to cover it,,i tried this with a new truck once,,it didn't go over real good,,so i has my dads name put on the title ,and everything worked fine,but that's probably what you,ll have to do also,,good luck ,hope this help,s. |
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youngturk3389
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i don't believe you can, if you are the lienholder. however if you are on your dad's insurance, that is another story...... |
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peterosefan1414
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as long as you are listed on the policy you can |
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