My father bought me a car, does the title need to be in my name?

Question

for me to get car insurance? I do not live in the same house.

Answer 1

The name on the title, registration, and insurance all have to match.  If he puts the title in his name, the insurance must be in his name, but you can have the garaging address different on that policy, for this car.

Answer 2

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Answer 3

The insurance policy will need to be in the same name as the title of the car. If the car is titled in your father's name, then he can insure it on his policy and list you as the primary driver. On the other hand, if the car is titled in your name, then you will need your own insurance policy to cover it. If the car is titled in his name, then he is the only one with an "insurable interest" in the car (which means that he is the one who will suffer a financial loss if the car is damaged).

Depending on your situation, you might be better off with it titled in his name and with you listed as a driver on his policy. Depending on how old you are, he might have more credit established, and he might get a multi-car discount or a home/car discount. These could benefit you. Either way, just make sure that the name on the policy and the title match.

Also keep in mind that the legal liability also follow the car. If it is titled and insured in HIS name, and you have a serious accident, the injured people will sue HIM, not you. If it is titled and insured in YOUR name, then they will sue YOU.

By the way, even if there is a loan on the car, the bank does NOT own the title. Either you or your father own it, but the bank has a lien on it. There is a big difference.

Answer 4

Your father paid for the car in full?  If so, the title will be in his name, and you can take it down to the DMV and have the title switched to your name.  If not, the title belongs to the bank, until the car is paid for.  Car insurance deals with who the car is registered to, and who that authorized driver decides to add to his policy, or if your of age, as long as both of your names are on the vehicle registration, you are able to get insurance alone.  So go get the car registered with your father, or have him add your name to the registration and take that to the insurance office.