I am buying a car for my daughter and taking out a loan. dealership says insure has to be in my name? Why?
Find answers to your legal question.
I am buying a car for my daughter and taking out a loan. dealership says insure has to be in my name? Why?
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Why can't the car insurance be in my daughter's name?
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Bandett
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if you are buying a new car and financing it you are
throwing your money away. that should be your first concern.
1) you lose thousands of dollars when drive it off the lot.
2)now you are making payments on a car that is worth less than the loan
3) borrowing money to buy a depreciating item is poor financial practice
4) you doing your daughter a disservice by aiding her to incur a debt she does not qualify for.
5) if you are buying a modest priced used car, then the above does not necessarily apply. |
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Lover not a Fighter
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If you are buy it for her, but the car is still owned (titled) by you, then the insurance should be under your name.
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If the car is titled under your daughter then it should be under her name (you didn't mention if the daughter is a teen / under 25). If your daughter is under 25 the dealer might have been trying to get you a cheaper price on the insurance (without sounding like he was committing insurance fraud) - because when some people find the price of insurance on teens, they actually might back out of the WHOLE purchase.
Good Luck... |
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RC
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The insurance company will only insure the car to the person named on the title otherwise it would create what they call a "moral hazard"
If the car is titled in your daughters name then the insurance can be in her name as well. |
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ravenjudge
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if she's over 18 and she can get financing in her name, then she gets insurance in her name. If you co-sign, it's in your name and hers if she's on the paperwork for financing, and you can get insurance in both names (with some companies). If it's in your name only, you own the car, you are solely responsible for the loan, and you need insurance in your name with her listed as a driver. |
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Kirdy Baker
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Hello Everybody,
my name is Kirdy baker,a U.S based graduate.i know of a good money lender who loans at a minimum interst rate of 2%.He happens to be Mr.John Clarke.he is the person i owe all gratitude because he gave me loan of $16,000 to fund my education for a duration of 7yrs.
So please if you want anything like loan please do well to contact him at clarkeloanscompany@yahoo.com |
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Charles Ben
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I am Mr. Charles Ben, six months ago my only son took ill, he was
Diagnosed of a heart disease, i was told by the insurance company, that my insurance won't cover my son’s medical care. As a father i was devastated, owing to the fact that i just lost my wife a few years ago, so i started looking for money, because my job was not paying enough to cover my son's bill, i looked for help from family and friends but there was non coming, i went to the bank and was told that, they could not grant me a loan, because i had no collateral. Finally, just as i gave up hope on lenders on the Net because of scams, i met a lady Shane who told me of Mr. Donald George, I tried him and he gave me a loan of $20,000 USD, today my baby boy is doing well, i am not telling you this for you to feel sorry for me, rather I am telling you so that you can help me thank him and if you are ever in need of a loan you can contact him via, donald_microfinance@yahoo.com Thanks for reading my testimony, and God bless all the good people.
Best regards,
Mr. Charles Ben. |
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Donald George
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WE ARE A FINANCIAL COMPANY THAT RENDER LOAN SERVICES…..
I am Mr. Donald George (CEO) of Donald Micro Finance Company; we offer all kinds of loans with different currencies,
I’m a registered and accredited loan lender that give out loan to loan seeker at the below loan interest rate, interested person should contact us with our company e-mail below,
We offer loans at low interest rate of 2% just to help you with the loan; our services are flexible, within a short period of time your loan will be infected to your bank account,
You can contact us with our company e-mail address below,
We await your contact…..
Donald George (CEO)
Donald Micro Finance Company
E-mail: donald_microfinance@yahoo.com
Contact us via e-mail….
Thanks for your patronage |
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Rev P
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Hello Everyone,
I am Rev Prince, I’m from Indonesia. I have been looking for a loan for me to be able to operate my dream Filling Station Business in Indonesia that was down by banks, mortgage house and other non Fraudulent financial institutions, until i was recently introduced to this below name Sam Panpan House institute of Finance SAMPANPANLOANFIRM FINANCE HOUSE LTD with RC NO: 0567910, which relieved me by granting my wish with the approval and transfer of a loan to me within 72 hours of putting in my applications...I advice you contact them now on sampanpanloanfirm@hotmail.com to avoid been taken for a ride by scammers... |
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Rose Smith
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Hello everyone,
My name is Mrs Rose Smith and i am talking as the happiest person in the whole wild world today and i told my self that any lender that rescue my family from our poor situation, i will tell the name to the whole wild world and i am so happy to say that my family is back for good because i was in need a loan of $58,000 USD to start my life all over as i am a single mum with 2 kids and the whole world seemed like it was hanging on me until i met the GOD sent loan lender that changed my life and that of my family, a GOD fearing lender, Mr Steve Davidson of Davidson loan Financial Incorporated, he was the Saviour GOD sent to rescue my family and at first i thought it was not going to be possible until i received my loan of $58,000 USD and i will advise any one who is in genuine need of a loan to contact Mr Steve Davidson via email stevedavidsonloanenquiries@yahoo.com because he is the most understanding and kind hearted lender |
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Martin F
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Who knows. Thats wierd maybe hes doing it for his own pleasure..? |
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