How do I make someone a co owner of my car?

Question

I want to make someone a co owner of my car but does that mean that they have to run a credit check on them aswell. Is there any way around that. I am the owner of the car but in order for them to register the car in another state while I currently live somewhere else they would need to be on my title. How could I do that?

Answer 1

This depends a great deal on two things.  Where do you live and do you have a lien (from a loan holder) on the vehicle.

Rules are very different in different states, but ultimately it is the regulatory agency that issues your title that can put another person on your title as a co-owner.  If you own it outright just work with them directly and find out the rules.  I have done this process in Virginia and it worked more or less like I was selling the car to both my spouse and myself.  So I surrendered the old title and got a new one with two names.  Both my spouse and I had to participate in the process.  But we owned the vehicle outright and this made the process easy.

If I did not own the vehicle I would have to involve the bank since really they own the vehicle and I was just the operator.  The bank would effectively have to agree to having my spouse on the title and they would go through the same hoops as when they issued my loan and agree that my wife was an acceptable risk to be on the title.

Having said this, once I move to Texas I regretted putting my spouse on the title.  That is because when I go the the Department of Motor Vehicles to transfer titles or do anything else I have to take my wife along since it isn't just my vehicle any more.  This was annoying for her since I usually handle this kind of stuff and it made everything inconvenient.  I bought a new vehicle last year and I kept it only in my name for this reason.  Make sure you have a good reason for having two names or it could turn out to be a pain for you too.

Also I am not sure I clearly understand your question but it almost looks like you want to register your vehicle in 2 states.  I don't think that is possible at all. You will have to surrender an old title to get a new one.  You will not get a title until you prove you own a vehicle and the title is the proof.  If that is not what your are trying to do ignore this part.

Answer 2

Assuming the car is free and clear, there is no legal owner that is financing it, or you have the permission of the finance company to add someone, you just take the title to the DMV and add a name there.  There will be a nominal charge for making the change.

Answer 3

I am assuming the car is not paid for at this point and you owe the bank or someone money on it still. If this is the case, then yes that person's credit will be pulled and looked at. Their credit will need to be good too just like yours was to get the loan. The vehicle then will be re-financed since your adding a person who will then be responsible for making sure the payments are meant each month. If for some reason the payments weren't made, that would affect both of your credit ratings now because your both responsible for that bill. No other way around it. If you want their name on the title so they can register it and you owe on it, their name gets added only after the credit check and approval by the bank to accept them on the loan. Hope this helps.

Answer 4

>>  somewhere else they would need to be on my title.

Not in NYS.  There's a separate form that gives permission for a car titled in person A to be registered to person B.

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I suspect that it is the same almost everywhere.  Contact your state's DMV and check

good Luck...