my mom doesnt have a DL but she’s the one that will finance the car for me although I have a DL and I will pay the monthly of the car and my own insurance and the title belongs to me is that possible?
my mom doesnt have a DL but she’s the one that will finance the car for me although I have a DL and I will pay the monthly of the car and my own insurance and the title belongs to her name is that possible?
Related Posts :
Filed under: car loans
Like this post? Subscribe to my RSS feed and get loads more!
Not impossible, just difficult. The reason is that she will be the one responsible for the loan (I presume the reason is that she has a good credit rating whereas you do not?). As far as the Title, she will be the one who owns the car since the loan is in her name, which complicates the situation slightly; when the car is registered she must be the registered owner, again complicating the matter is the fact that she does not have a license.
I would suggest she merely co-sign a loan that will be issued to you; that way, there will be no problems with title, registration or insurance. Good luck!
- spam
- offensive
- disagree
- off topic
Like