question for you Loan & Insurance savvy guys

[KepRght]

40k Financed as an auto loan 20k down

1)loan in my name

2)car registered in my aunts name

3)full coverage insurance in my Aunts name (she is much older & in a geographically cheaper to insure area)

4)non owner insurance coverage in my name

see a problem? will the lending company have an issue? the insurance would be 1000 a year for her, instead of 4000 a year for me. I rether spend the 3k on mods per year.

is this possible?

 

[plumcrazy]

im never a big fan of trying to get over on insurance. **** it up, pay it and go on.

lending company will prolly frown on it and not let it happen i bet.

if ya really have to go that route, let her buy it then.

 

[Sam 01 RT10]

Here in Nevada, you can't be on the registration of a financed car unless you are on the loan.
Register the car in your name, but at the cheaper address, possibly on her policy to recieve any multi-car discounts.
Just my .02.
<---Resident dealership F&I manager.

 

[viperbilliam]

Re: question for you Loan & Insurance savvy guys

Just remember at claim time the insurance will look hard at the details and investigate; anything funny and it will be grounds for rejection of your claim.

 

[Steve 00RT/10]

car registered in my aunts name

full coverage insurance in my Aunts name (she is much older & in a geographically cheaper to insure area)

Your aunt would be crazy to sign on to a deal like this.

Steve