Can i put a car in my name to keep a friend from getting it repo and my licecense is suspended what can i do?

thebonehead

You can if you're going to pay it off.

If your friend is facing repossession, then they don't own it, the bank does. And the only way you can get it in your name is to have the title signed over to you.

I don't think the bank will do that without payment in full.

nope, you cant do it not w/suspended, friend needs to surrender it volutarily, itll go against his credit score

J D

No, you cannot put the car in your name. The lien holder has the VIN, so it'll just get repo'd from you instead.

yessaipan

Won't work. Your friend does not own the car until it is paid off. It cannot be signed over in your name until the loan is paid. If you sign over the title without the approval of the loan company, they still can repo it plus add fraud charges to both of you. Without a license you can still own a car.

lemley

you can't because he doesn't have a title, if he had a title he would own it and it would not be getting repoed

NCMom

What state are you in? In most states if there is a lein recorded, you cannot change the name of the owner without permission from the leinholder.

cyndiga

In most states if your license is suspended you cannot register a vehicle. No matter who registers the vehicle the lien holder on the title has possession rights and can take the vehicle. Tell your friend to get a job, pay the bills, and stop getting in over his head.

ally

what state do you live in?

weenie_hut_jr

maybe your friend should pay their bills...

George N

Nothing.

The bank already has a lien on it in your friend's name. The bank probably also has the title. Your friend can't transfer ownership without clearing the debt with his bank.

Likely you wouldn't want the liability insurance involved anyway. It's unlikely you could even get that if your license is suspended.

velcropap

sounds like you're going to get in trouble. don't try to help a friend this way. tell him to either pay for it or lose it.

1111111

LOL

Mr happy

nope not unless your friend buys it from the bank only way to change names on titles

Butcher Bird

Have hims sell it to you for a dollar, the DMV cannot tell you what to sell a car for, none of there damn business. Just make sure he has his own insurance. Plus, you better make sure you have the car registered in your name and insured, just get the very basic ins. But since you doing him a favor he pays for all that. Then if the repo, not what is your car not only can you sue you can have some fat money in your pocket and he can pay it off. But when it comes to friends and money, make a contract of all this and go to a bank and pay the lousy 7 dollars to have it notarized and lock it in a safe of safety deposit box. So if he does not pay, the car is yours, sell it and you get bank and he is in trouble and if anyone asks just say it was junk I had not clue it was to be repo'd.

frankienorth06

hey i bought a 92' Geo in Iowa, from my friend, and i have the bill of sale and she was to mail me the title the next day, found out she doesnt want to pay off the lien, she owes about $1500 and i paid $200 for the car and the car value is only $300. she doesnt want to pay off the lien. i dont know what to do and am i going to loss the car. i have on write and she sign it . that she going to got me the title and everything going to be smooth

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