I have a car loan in my name My son would like to register it and get ins in his name In New York. Is this possible?
- MayLv 51 month ago
Assuming the TITLE is in your name, Son cannot register (buy license plates for) the car because the loan and the title is in your name. Son cannot insure the car for the same reason..... plus the fact that he is a minor and cannot enter into a legal (insurance) contract.
You borrowed the money, it is YOUR car and your loan .
- 1 month ago
Just put him in your insurance plan and your good
- Anonymous1 month ago
Sure - just payoff the loan in full and gift the car to him. Every state has laws stipulating how soon after a car is in their venue it must be registered there. (usually exceptions for military personnel and out-of-territory students residing there temporarily). Laws are different in each state, but in most you must present a clear title in your name to register it. And lenders are usually reluctant to have their car moved, so if their is a lien on the title the lender must provide a form/letter authorizing removal of car to another state.
- RobertLv 61 month ago
Nope. The lender will most likely not allow you to change the registration or move the vehicle out of state until the loan is paid or renegotiated.