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What are the risk of putting a car in my name for some one else?
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What are the risk of putting a car in my name for some one else?

The car will be payed off, but i was wondering how it will affect my credit, insurance on my own car, ect. And if he gets a ticket will i be affected? What if drugs or something is found in the car?


    




Bruce Frazier
Rating
The law in nearly every state holds the registered owner of the car responsible for its use or misuse.

As the title owner you are responsible for parking tickets associated with your vehicle as well as accidents, including the liability associated with damages to life or property. Even criminal activity associated with the car gets tied to you.

This is often the case with co-signers. The vehicle is usually in the name of the person with sufficient credit. The other person's name may be on the note, but the co-signer is actually the one making a debt.

If the vehicle is in your name but someone else is paying for it, that might be fine as long as their are no problems. But over the course of the several years that you will be paying for the vehicle something is guaranteed to go wrong. You will be responsible not the other person.

It is not advised that you should make such a move unless you have other compelling reasons.


Dulce maria
Rating
dont be stupid if you do that,maybe drugs are find and you will go to prison.or if the car is rob that will be a big trouble or if the person dosent pay for it they will go to your house and if they dont find it there ,I wodent want to be you ....................so dont do that stupid


scififed
anything that happens you would be financially responsible. if drugs are found they could seize the car. if a parking ticket is issued and you are never told this could effect you renewing your drivers license. had this done to me by my brother 20 years ago.


Lindsey D
Rating
put it in a persons name you trust with your life and then put a lien on it .. not a real one ,just get your mom to sign as lien holder on the title. the insurance can be in anyones name.you put this car in limbo and it cant be taken from you or anyone or by the law. let me rephrase that , the law can take it but they cant keep it.


ce1121
Whatever you do, don't do it! If this person can't afford to pay for the car, you will be the one having to pay for it. Listen to the people above, just don't do it.


united9198
Rating
What would you do if someone rammed your sister's car and she was killed after the brakes went out? Would you not sue the car owner for that? That is the same position you are putting yourself in. The liability that you would be accepting is huge. Consider that the person asking you to do that is already a risk or they would not be having to ask you to protect them. Don't do it.


turner32542
don't do it...to many possible problems...


AL
Don't even think about it. DON'T DO IT...... Would be one of the biggest mistakes you ever made in your life. Only a TRUE IDIOT would do something like that.


Shockey Monkey
Don't do it.
All traffice violations, crimes etc involving that car will come back to you.


heir_to_christ
Yes, its risky, and you could have points put on your licence for something someone else has done.


matt323i
Rating
If he kills someone while driving the car then you could be held liable and sued, insurance could get cheaper if you get a multi car policy, if it's paid off then there is no affect on credit, If he gets a ticket directly from a police officer it goes to him, if its a camera ticket it will come to you, but you can fight it.


oklatom
Rating
Anything against the vehicle, from a parking ticket to a tow to an accident to being used in a felony robbery will become YOUR responsibility. If you want to take that responsibility, go right ahead. Let's assume the person has a bad wreck, ruins some property and runs off. Who will they arrest and charge? The owner of record. The "I wasn't driving it" won't matter, you are responsible for whatever it does no matter who is driving, and you will also be responsible if the someone else is driving without insurance. Or did you plan to put insurance in your name also?


theoriginalquestmaker
Rating
Don't do it. Any accidents will reflect on your insurance. Plus if you are asking about drugs then it sounds like you think it is possible. And they could come after you. Don't risk it.


candidworker
Rating
If they have unpaid tickets, if they don't pay their taxes,or the car get's impounded yes it's on you cause the car is in your name.


Pummi
100% as they may pay the expenses and take away your car... if you are paying for it then also... there r 100% chances that after the final installment they may refuse to register it back to your name............ SO DON'T DO IT!!!!!!!!!!!!!!!!!!


londonhawk
Rating
If the car is in your name, you are held respsonsible for everything that happens to it.


tonalc1
Rating
If the car is in your name, the insurance for the car has to be in your name with the driver listed as additional driver, for which you may pay extra on the policy.

Any liability claims will go to your policy. Any tickets he gets will go on his personal driving record.


newfiekiss
i am multi owner of a car and my father is owner, is there any way i can remove his name from owner and be soul owner myself?





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