Got a question (car)
Posted 12/12/16
I bought my parents a car back in October only because their car got well taken away and they really needed a car.

I do not work (having a hard time finding a job never even had a first time job) or even know how to drive for that matter (to scared to due to my adhd) anyway my parents are the ones paying the car and have car insurance in there name since I don't know how to drive it's a bit pointless to get me insurance but the car is 100% in my name.

The thing is I am a bit worried we haven't gotten the license plate for the car yet probably won't get any since I don't have insurance or know how to drive for that matter and since I don't have car insurance the financial company wants me to update my insurance info and can't since I don;t have any since I don't drive.

I am 100% shocked they let me buy a car for my parents. So I am wondering what should I do, do I have to go down the dmv or something and explain my situation and same with he car financial company?

Me I am just so confused on this I mean will the car get taken away what?
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30 / M / New Jersey
Posted 12/12/16
My guess would be to go to the DMV and get the title to the car transferred to be under your parants names. Check how to transfer a title with your state's DMV website as it's likely slightly different depending on state.
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29 / M / Kansas, USA
Posted 12/15/16
I'm not quite following, but it sounds like there are some screwy legality issues here. I guess it's going to depend on how the vehicle was financed. Was it through a dealership or a bank? Most financial institutions will require that the vehicle be insured against all forms of accidental damage until it is paid for in full. It doesn't matter who insures it, as long as it is insured; the financial institution shouldn't ask for your insurance information specifically--just proof of insurance--and as long as the insurance company is notified that there is a lienholder (your insurance application should ask for this as well as their contact information) then that information should be sent to them without your intervention. That they are asking is kind of weird.

That said, it might be specific to where you live. You also might have difficulty registering the vehicle at the DMV. They will require proof of purchase (ie: a bill of sale,) and the valid title as well as insurance information. If you are the sole owner of the vehicle, then your parents cannot register it, and (at least in my area) you need a valid driver's license to do so yourself. It may be that you will need to have one (or both) of your parents added to the title. I would speak to the financial institution first, because they won't generally care who's paying for the loan as long as it's being paid; the DMV, on the other hand, is very anal retentive about proven ownership and accompanying documentation and would likely tell you that if it is, by all accounts, your parents' car, then your parents need to be the legal owners.
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Posted 12/17/16
OP nuked, closed
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