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If you get a loan in your name can the car be titled in another name?

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Wiki User
2015-07-16 19:19:29
2015-07-16 19:19:29

No.

I recently took a car loan for my son because his credit is bad. The loan is in my name, the title is in his name only. He is listed on the loan as the 'holder of colateral'.

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You have to be 16 for a car to be titled in your name.

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You can have it insured in your name, You can have it titled in your name as lienholder and have it registered to another party

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no you can't Its not in your name so you can't get insurance from a car that is not titled in your name

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The car can not be under another's name legally. Cars with a loan must be in that person's name. If you bought a car that was not paid off and the loan was not cleared you bought the car and the loan. Yes, they can get the car. That is why they put liens in the car. It prevents anyone from buying the car!

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Yes they can if they have had another loan with your name and their name.

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The loan must be paid off first so the lender will release the title.

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your daughter would have to sign the release documents for her car. As for the loan, whoever signed the loan would still have to pay the loan, regardless. The loan doesn't go away. If you do consider this, make sure there aren't any liens or any other claims to that car, through the bank or other institution.

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The answer is no. You can only register it in the names of the people(s) that are on the loan.

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You mat be able to if you have an insurable interest. For instance, your child living at home has a car in his name or you hold a loan on a car not in your name.

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'Title Loan' is a loan you will be getting of having a car loan on your on name.

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If grandmother was the sole signatory on the car loan, and there are payments still remaining at the time of her death, then the Estate will be required to satisfy the loan amount. Regardless of who is awarded the car, the loan must still be paid off in order to gain total ownership of the vehicle. The loan company holds the "Title" in their vaults until the loan is paid off.To remove her name off the loan, you might have to refinance the loan, which may result in a higher interest rate. At any rate, the loan company needs to be apprised of the death immediately, and they may be able to help you through the processes required to re-align the loan into your name.Another perspective: You haven't disclosed the name on the certificate of title for the car. Generally, if the car is in your name (you said it was your car) and you keep making the loan payments, you shouldn't encounter any problems. The estate representative cannot make you take anyone's name off the loan because you don't have that power but they can notify the bank that the cosigner has died. If the car is titled in the other person's name then you have a problem.You have not included enough detail to get a definitive response. You should consult with an attorney.

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You just can't place your loan in someone else's name. That other person has to get his/her own loan for the car and pay off your loan.

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If I have a car in my name with a lien on it and the car Is only god for scrap metal can I put the loan lien on my wifes car if she transfers the car to me.

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Yes, but you would have to get a loan for the payoff amount from the loan company you want to use

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The "someone else" needs to apply for a loan to pay off your car loan. With your loan paid off, you can sign the title over showing it free & clear. Don't sign off on the title until you know the loan is paid--or you could find that you no longer own the car but still have a loan to pay.

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The entity recorded on the TITLE is owner...name or business. On occation, the registration may be different, or the borrower may be different.

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I have a car that is paid off. The bank is holding the tittle for colletaral for another car loan that was repo. Is this legal?

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You can sell it immediately if it is your car titled in your name.

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You cannot get your name removed from a valid loan. If you signed the contract your name remains in place until the loan is paid off. The only time I have seen the name on a valid loan adjusted was when a signer passed away and another party legally assumed the loan from the finance company. And no, divorce decrees will not help you.

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No, you cannot sell a car that is not titled in your name. That would be a crime, transferring stolen property. The car legally belongs to the person whose name appears on the title.

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You need to have the title transferred to your own name and notify the loan company of the change in ownership. Then you will need to pay the balance of the loan or renegotiate the loan with the bank. If you don't pay the loan the car will be repossessed.

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The car loan will have to be paid off in order to remove your name. The other signer will have to get a new loan in her/his name only.


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