I am living in the Northeast and split my time between NH, MA, and NYC.
My brother in law is coming to study in the states and the family has decided to help him lease a vehicle to drive around/go to school in CA.
Obviously he has no credit so I am planning to lease/register the car/insure the car. Problem is I am a resident in the Northeast with no address in CA. How will this logistically work?
I don’t mind flying out there to sign papers and get him the car but something tells me it won’t be that simple.
no way you will be able to insure the car, he would need to insure the car himself. Co-signer is a huge responsibility, are you prepared to step up if he decides to go back and you still have X months left? I would think long and hard.
Or, worse, if he gets into a major accident/accident with a car more than his property damage limits.
Imagine if he has $50,000 and smacks into a car that is more than that (a high percentage of cars today), or if he has $100,000, and that still doesn’t leave much for another car(s). What if there’s an accident with a $70,000 car? Depending on the part of California, this is all possible…
It’ll be expensive, but doable. If the dude eventually finds a cure for cancer, I say it’s worth it.
OP, Call your insurance and ask how that would work. It may be easier to lease the car in North East and ship it over there or have him drive it cross country.
Anyway I can just insure the car and add him as the other primary driver?
I’m leaning towards co-signing the lease now. He’s coming over with a decent budget for a lease. If I co-sign, registration and insurance would just most likely be on him since he will have a CA address?
