My car is financed in my dads name with the insurance in his name, I would like to put the insurance in my name.
I don’t have stable income to refinance in my name.
Any suggestions?
Thank you!
Would your father co-sign the loan for you? What are we talking about on payments?
Yes he would
12k remaining on the loan
You can take a policy and add your Dad as the vehicle owner. The important this is to have the coverage he needs for liability as he is just as responsible as you are in an accident (since he owns the car). I would go to a broker in your area that understands how to do this- if an accident happens and it is not set up correctly- he could be in a world of hurt.
The other option is get the title in your name and keep him out of it.
Got it, thanks all
Do you live in the same address?
I did till now, but now I’m moving and want to put the car in my name, as currently the insurance in my dad’s name is exorbitant.