I’m about to purchase my first car, but we’re putting the title in my fathers name so the monthly payments will be about half of what they would have been. Is there a way I can do this with car insurance as well? Will putting it in my fathers name make it lower as well? I’m assuming yes, but you never know.
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In most states, you can not put it in your fathers name as you must have proof of insurance to get your drivers license. Its going to be ridiculously expensive at first. Don’t get any tickets and try not to wreck and it should drop dramatically after six months, than again six months later, and so on for about five years until it levels out.
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Well, you can put your dad’s name in the insurance but then it means that the insurance only cover your dad as a driver. The only way to lower the insurance is to not have an accident. Your insurance rate will decrease overtime as you gain experience in driving and not have any accidents. If you worry about the insurance and cannot guarantee that you won’t have any accidents, buy a cheaper car to insure. This means that it could be an old car or cars with cheap costs to fix.
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Another teen driver =)
When it comes time for renewal auto insurance is a no brainer way to save a lot of money. You can get a easy estimate online they always give you lots of prices.
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No, because it’s called fronting and maybe illegal
Fronting is when Person A (a 17yr old) owns a car and puts their parents down as the primary driver, the primary driver must own the car. Since the primary driver doesn’t own the car, it’s misleading the insurance company etc and as such if they find out then bad things will happen.
The only way to ensure low insurance with your age is to go for a small car with a 1.1-1.2 engine which is boring and plain jane.
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What I understand is that you are financing the car and by using your fathers credit your payments are cheaper than if you use your credit. Anyone can buy anyone else a car… that part is not illegal. If the car is in your dad’s name, so will the insurance need to be. You MUST be listed as a driver on the policy and yes, that is legal. You will be covered as long as you are listed on the policy..you should even be named as the primary driver of your car. I’m assuming you are young??? If so, and your fathers credit is obviously better as well, then this should save you a few dollars. If your father is willing then go for it. Insurance companies know that a young driver may drive any car on the policy and rates are assessed based on that… so even if you drive your dad’s car or he drives your car…you are covered.
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Several methods you may think about.Like call your local insurance agent or do some researches on the internet,you should get the idea.
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You can compare how the insurance quotes would change, for example here – autoinsurance.bebto.com
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This site helped me get cheap insurance:
http://cars.guidearticles.com/insurance-comparison.htm
you can get a price quickly, no hassle.
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