Can your daughter provide insurance for a car if the loan and the registration are in your name?
There are so many potential scenarios in this situation.
Are you wishing to insure it via the daughter because she has a better record, thus better rates? That would, of course, be considered fraud, and is not advised. Additionally, they are going to rate the policy based on all drivers in the house, so the rates may not improve anyway.
Does the daughter live in the same residence? Most other family members would also be covered, IN MOST CASES WITH MOST COMPANIES, but most also require a DMV check on each driver in the house. The company can also list a specific 'named driver exclusion'. I.E. Seventeen year old Johnny has already received three violations; carrier will continue coverage but require a named exclusion for Johnny. They will cover NO accidents or incidents in which Johnny is the driver.
If she is NOT in the house, is not a regular driver of the insured vehicle, and has no legal relationship to the vehicle financially, but is better able to meet the financial obligation of the premiums, then you should simply have her give the monies to you each month.
If you are on a vehicles lien is it required to be on the registration and insurance as well Tampa FL?
MORE DETAILS My wife and I are both on a loan for our vehicle but I have a 2nd vehicle I use and she uses the one under the lien Currently we both are on the registration and insurance To make insurance rate more affordable for us can I remove myself from the reg and ins even though I am on the lien.
If a car loan is in one spouse's name only repossessed can they garnish the wages of the other spouse if their name is not on the contract only the insurance registration?
Yes they can, but it really just depends on your own states common laws regarding liabilities and married couples. Most states for all civil law intents and purposes consider a married couple as one entity, assets as well as debts of either are generally (community property) the responsibility of both, but this can vary depending on your state law. In most states if the property was purchased or financed after the marriage took place then…
If you have your own car and there is not a loan or lease you may opt to have liability insurance because we provide the car insurance policy at the lowest cost. You will find out all about car insurance policy types and their benefits here. We provide all insurance news about car insurance which helps to cover your vehicle.
Whoever's name is on the registration is the legal owner. If the person is co-signer on a loan, your spouse, guarantor on the loan, or named on the registration or insurance policy, then you might be charged yourself with filing a false report. You may be able to report the incident as "unauthorized use of a motor vehicle" instead of theft.
Is it better to be financed for an auto loan through the dealer or through a source like a credit union?
Is it possible to have your name on your parents insurance policy if the car loan and the registration are in your name?
This is not a good idea. You need your own insurance policy. There are coverages you do not have by being on your parents policy. You want to be a "named insured". This means that you control the policy and not your parents. If you want to loan your car to anyone you can, if you are on your parents policy you cannot do this. Also if you need to rent a car, you are…
Laws vary from state to state, but here in Kentucky, the answer would be no. The reason for this is the item be registered is securing the loan, and if it were to have to be repossessed, or reclaimed by the lender, the owner that was not on the loan could have legal standing to protest the action. Therefore the people on the registration also are on the loan.
No, but it can be impounded by the police. Lack of insurance is a crime, generally a misdemeanor, but if the degree is severe enough the police can impound it as evidence in a criminal case. To get your car back, you would need to provide proof of insurance, a valid driver's license for the owner of the car and the insurance, and pay the fine for the crime as well as the storage fees…
The mortgage registration fee is a State Government charge for the registration of a home loan. Because the property acts as security for a home loan, the government requires a home loan to be registered so that all claims on a property can be checked by any future buyers of that property. This fee can vary from state to state, so check the website of
Can co owner not on registration take vehicle from owner who is on registration owner not on registration is responsible for loan and other owner is causing a default by keeping car and failing to gi?
No. You need a court order. If you agreed to obtain the car loan you should have placed your name as co-owner on the title. Since you are not on the title you cannot take possession of the car. Since you ARE responsible for the car loan you must keep the car payments current. You need to take the matter to court to request the car be retitled in your name. There is a more…
Yes, but the vehicle will legally be theirs in every aspect. The payment will report on their credit and affect their debt levels if they apply for another loan regardless of if you pay it for them or not. If something happens to or with the car, they will be liable. Registration and insurance will be in the name of the person financing the car.
Yes, if the line of credit is a home equity line where the home is the collateral for the loan then you will have to prove that you have insurance on the home for the home equity loan. Any time you use collateral for a loan then part of the loan agreement will involve proof of insurance on the collateral.
An automotive loan usually contains a clause that says the loan recipient must maintain insurance on the car for the life of the loan. Usually, this includes not only the legal minimal liability insurance, but also theft, collision and fire insurance. If you are in breach of the loan agreement, your car may be subject to repossession, depending upon the terms of your loan agreement.
Car totaled insurance value car at 16000 and loan amt is 12400 can you use your gap insurance to pay off car loan?
What happens to a loan on a car when the loan holder dies and there is no cosigner or insurance on the loan?
What if you purchased a car but didnt have insurance at the time and they gave you thirty days to get insurance but after the thirty days you still didn't have insurance can they take the car back?
Your car is not going to be repossesed because of your lack of insurance. However if you do not purchase insurance and provide a copy of your insurance to your lienholder, they will purchase it for you and send you a bill for it when you fianally pay off the loan. Keep in mind though, the insurance bought by the lienholder only protects the car from damage, it does not provide any medical coverage for…