Is a car mine if under only my name but financed by parents?

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Is a car mine if under only my name but financed by parents?
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Is a car mine if under only my name but financed by parents?

Im moving out soon,im 22, so is a car mine if my parents are still financing it but its registered under only my name and i pay the insurance? Is there anything legal they can do to spite me if i move out w/o warning?

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clark k1

You need to have the title in your name only. whoever hold the title has the legal right of the car. If they are financing the car and have put a lean on it.Then its Just like if you had it financed through a used car dealership You could chk your local laws on car deals and see what up, maybe they're is a loop hole or something that you can use to help you. I hope things work out good for ya. Good luck and God bless.

ez_flow

If the title says different they can. you can have it registered to your name but the pink slip may be under their name.

forcrynoutloud

if the car is financed by your parents, I doubt if yours is the only name on the car. If their name is on the financing they could probably sell the car if they wanted to.

jeff

if the parents are still financing it that means the bank still owns it. so you will need to see the loan agreement. some smaller banks stipulate you can't move out of state with the car while they are financing it. your parents can simply stop paying the loan on the car and let the bank reposes it. don't piss your parents off or burn any bridges you still need their help so play nice and everyone stays friendly.

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