Insurance question....

[Shlade]

So im possibly picking up a truck for work and was gonna give my 09 corolla to my mom so she could use...

To help me with things she would pay for the insurance then.. I am financing this car so would I have issues getting her to register the car under her name and insurance under her name with the car still having a lien against it?

Make a fake bill of sale and all just to transfer the ownership? Id still be paying the amount I owe every month on it.

Need some answsers asap! Thanks!

[Phenix]

why not just put her on your insurance and keep the car in your name? save a lot of headaches

[Masked Bandit]

Once there is a lien on the vehicle I don't think you can register it in someone else's name. You could possibly start a policy in the names of you & your mother with her as the listed driver which essentially makes it her policy but you would still remain the registered owner.

Throw the situation at your insurance broker, they should be able to figure it out for you.

[Shlade]

thanks for the replys.

Ill check it out Bandit!

[tom_9109]

You can legal transfer the ownership to her even though there is a lein on the vehicle. However if you were to default on payment they could still come get the car, sell it and only give your mom any excess money.

[J.D.]

Put your Mom on the financing so cars under both your names and then shed be ale to insure and register it on her own, I think.