Is there any way to transfer a title for a vehicle into another person's name without transferring the loan ?

JetDoc

In most states, the title and the vehicle registration are two separate documents. The title is held by the loan company until the car loan is fully paid off, while the registration is kept with the vehicle to show proof of ownership and current license tags.

In most states, you can add your daughter's name to the registration (license plates) without having to change the title. Simply take your current registration to the local DMV and tell them you want to make a change. You may want to include vanity license plates at the same time...

Don't forget to check with your insurance coverage too.

Rich Z

The state does not care but the car loan company might. Call them and ask about that gift.

goldstcy

I think you can, she is under age !!

I SLEEP TO DIE.

YOu should really pick up a yellow book, and find a Notary to ask that question.

allansc2005

ONLY if she is 18+,and your name is on the title also

fire4511

What you want to do is transfer the car title into your daughters name, and still be the only one on the car loan. You will need permission from the finance company to do so, and most likely they will want your daughter to sign allowing what is going to be her car to be used as collateral for your loan.

If the finance company approves the transfer, they will give you a letter allowing you to transfer the title to your daughter at the DMV office in your state. Most likely the finance company will still want a lien recorded on the title.

laughter_every_day

almost all loans have a "due on sale" clause. That means if you transfer ownership of the car, the loan becomes immediately due and payable. This is designed to prevent just what you propose because the lender wants to keep the ability to repossess the car if you should stop making payments. Furthermore, you can't unilaterally "transfer the loan." The lender's contract was with you, based on your income and credit history, etc, and they have not agreed to a contract with your daughter. Therefore, I would suggest contacting the lender and asking if the loan will become due if you transfer ownership of the car to your daughter. If so, just keep making the payments, give your daughter written permission to drive it anytime and then give her the car once it is paid off.

the sealer

YOU CANNOT TRANSFER A TITLE TO ANOTHER IF YOU STILL OWE ON IT, SIMPLY BECAUSE YOU DON'T HAVE THE TITLE TO MAKE A TRANSFER WITH. YOU MIGHT BE ABLE TO TRANSFER POSSESSION OF SAID VEHICLE IF SHE HAS A DRIVER'S LICENSE AND IS OLD ENOUGH TO GET INSURED. MAYBE YOUR INSURANCE COMPANY WILL ALLOW YOU TO ADD HER TO YOURS, IF SHE LIVES WITH YOU.YOU CONTINUE WITH THE PAYMENTS, WHEN YOU RECEIVE THE TITLE, THEN YOU MAKE THE TRANSFER OF OWNERSHIP. YOU WILL NEED AN APPLICATION ALSO TO APPLY FOR REGISTERING IT HER NAME. FOR THE INSURANCE COMPANY TO APPROVE OF A POLICY IN HER NAME, GET A NOTARIZED AFFIDAVIT OF FACT STATING YOUR INTENTIONS AND THE VEHICLE INFO ON IT .

nbr660

Billy T

the bank that financed the car is the owner of that vehical.untill the note is paid in full you cant do anything

maurcal

No. The title is not under your name yet. The name on the title is the bank's until you pay it off. The loan was made to you, not your daughter. You will have to wait until the vehicle is paid off and you have the title before you can do so.

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