Joint ownership of car?

[Hydey 0]

Hi VJ family,

I'm writing here for some advice and facts on how this would work, as i am really unfamilar. My Wife is 21, a driver. I am 19 and i don't drive yet, never drove in the UK so will be looking sometime in the future to get my license here once my Green Card is in my hand. However, we are looking to buy a new car together, maybe this weekend. We'd make the purchase where we use her old car as a down-payment and pay off each month, we were looking at a Hyundai, and it'll come down to about $270 a month, and once i have my EAD the pricing wont be too hard to pay off. However, is it possible for us to have a joint ownership of the car, even though i won't be driving it yet? If so, how would this work?

It's not a big necessity it'll still be our car and we'll both be paying it off together, but for the legal sakes and another piece of marriage evidence towards our case interview, how can this be done? My AOS is processing from the VWP, i am still awaiting my EAD.

Kind Regards,

-Richard

[payxibka 10,047]

That is a specific state question since car titles are issued by each state.....

[hopelessromantic 0]

Hi VJ family,

I'm writing here for some advice and facts on how this would work, as i am really unfamilar. My Wife is 21, a driver. I am 19 and i don't drive yet, never drove in the UK so will be looking sometime in the future to get my license here once my Green Card is in my hand. However, we are looking to buy a new car together, maybe this weekend. We'd make the purchase where we use her old car as a down-payment and pay off each month, we were looking at a Hyundai, and it'll come down to about $270 a month, and once i have my EAD the pricing wont be too hard to pay off. However, is it possible for us to have a joint ownership of the car, even though i won't be driving it yet? If so, how would this work?

It's not a big necessity it'll still be our car and we'll both be paying it off together, but for the legal sakes and another piece of marriage evidence towards our case interview, how can this be done? My AOS is processing from the VWP, i am still awaiting my EAD.

Kind Regards,

-Richard

We just purchased a car and it has been a big malarkey since I only had my EAD and not my residency at the time, they are going to be looking into your credit history. Do you have a SSN? That is the first thing you need, then you can get your wife to add you to her credit card, this is a quick, easy way to start building credit history in the country fast! After that you, when you get a job and can prove you have an income you can buy the car.

When we bought my car we had to submit paystubs, SSN, they checked our credit history, references, previous addresses, etc...

Good luck with your purchase!!! It is a good document to prove bonafide marriage. I had my interview last Wednesday and the interviewer was happy to see that joing ownership document, even though she didn't really need anything from us since what i submitted originally with my AOS application was sufficient, but she asked us if we wanted to give her anything and I pulled the joint ownership document out and she was impressed.

Hope the info helps you mate and good luck once again!

[Hydey 0]

Hi VJ family,

I'm writing here for some advice and facts on how this would work, as i am really unfamilar. My Wife is 21, a driver. I am 19 and i don't drive yet, never drove in the UK so will be looking sometime in the future to get my license here once my Green Card is in my hand. However, we are looking to buy a new car together, maybe this weekend. We'd make the purchase where we use her old car as a down-payment and pay off each month, we were looking at a Hyundai, and it'll come down to about $270 a month, and once i have my EAD the pricing wont be too hard to pay off. However, is it possible for us to have a joint ownership of the car, even though i won't be driving it yet? If so, how would this work?

It's not a big necessity it'll still be our car and we'll both be paying it off together, but for the legal sakes and another piece of marriage evidence towards our case interview, how can this be done? My AOS is processing from the VWP, i am still awaiting my EAD.

Kind Regards,

-Richard

Thanks for the info mate, i'm in New Jersey. My Wife will probably have the car ownership in her name solely at the moment, as i don't have my SSN or EAD yet, but once i have that, is it possible to add me later on as a joint owner?

We just purchased a car and it has been a big malarkey since I only had my EAD and not my residency at the time, they are going to be looking into your credit history. Do you have a SSN? That is the first thing you need, then you can get your wife to add you to her credit card, this is a quick, easy way to start building credit history in the country fast! After that you, when you get a job and can prove you have an income you can buy the car.

When we bought my car we had to submit paystubs, SSN, they checked our credit history, references, previous addresses, etc...

Good luck with your purchase!!! It is a good document to prove bonafide marriage. I had my interview last Wednesday and the interviewer was happy to see that joing ownership document, even though she didn't really need anything from us since what i submitted originally with my AOS application was sufficient, but she asked us if we wanted to give her anything and I pulled the joint ownership document out and she was impressed.

Hope the info helps you mate and good luck once again!

Thanks for the info mate, i'm in New Jersey. My Wife will probably have the car ownership in her name solely at the moment, as i don't have my SSN or EAD yet, but once i have that, is it possible to add me later on as a joint owner?

[hopelessromantic 0]

Thanks for the info mate, i'm in New Jersey. My Wife will probably have the car ownership in her name solely at the moment, as i don't have my SSN or EAD yet, but once i have that, is it possible to add me later on as a joint owner?

I believe you will be able to do that, I guess first she will have to contact the bank or lending society and take it from there, maybe you can call the DMV and ask about the process as well.

Once you get your driving license she can add you to the car insurance that is also a good document to have!

Edited October 10, 2008 by hopelessromantic

[alexpapa 4]

Thanks for the info mate, i'm in New Jersey. My Wife will probably have the car ownership in her name solely at the moment, as i don't have my SSN or EAD yet, but once i have that, is it possible to add me later on as a joint owner?

I believe you will be able to do that, I guess first she will have to contact the bank or lending society and take it from there, maybe you can call the DMV and ask about the process as well.

Once you get your driving license she can add you to the car insurance that is also a good document to have!

Just remember that if you are a driver on a newish car, being 19 and no driving experience your premiums are going to probably cost more than the monthly payments on the car.

[Old Dominion 26]

Thanks for the info mate, i'm in New Jersey. My Wife will probably have the car ownership in her name solely at the moment, as i don't have my SSN or EAD yet, but once i have that, is it possible to add me later on as a joint owner?

I believe you will be able to do that, I guess first she will have to contact the bank or lending society and take it from there, maybe you can call the DMV and ask about the process as well.

Once you get your driving license she can add you to the car insurance that is also a good document to have!

Just remember that if you are a driver on a newish car, being 19 and no driving experience your premiums are going to probably cost more than the monthly payments on the car.

Since there will be a bank lien on the car, the title will be kept by the bank or other lending company. The title will not come to her until the loan is paid off. So, to have the property transferred to you as joint owners (once you have the SSN and a drivers' permit) it will require the bank's approval as well as the Division of Motor Vehicles. If you have no credit history, the bank might balk. As noted, the insurance premiums will skyrocket, depending on where in New Jersey you live. Best to leave it alone and try to pay off the loan as quickly as possible.

[Hydey 0]

Thanks for the info mate, i'm in New Jersey. My Wife will probably have the car ownership in her name solely at the moment, as i don't have my SSN or EAD yet, but once i have that, is it possible to add me later on as a joint owner?

I believe you will be able to do that, I guess first she will have to contact the bank or lending society and take it from there, maybe you can call the DMV and ask about the process as well.

Once you get your driving license she can add you to the car insurance that is also a good document to have!

Just remember that if you are a driver on a newish car, being 19 and no driving experience your premiums are going to probably cost more than the monthly payments on the car.

Since there will be a bank lien on the car, the title will be kept by the bank or other lending company. The title will not come to her until the loan is paid off. So, to have the property transferred to you as joint owners (once you have the SSN and a drivers' permit) it will require the bank's approval as well as the Division of Motor Vehicles. If you have no credit history, the bank might balk. As noted, the insurance premiums will skyrocket, depending on where in New Jersey you live. Best to leave it alone and try to pay off the loan as quickly as possible.

I think the plan is for her to buy it and for my mother-in-law to be the co-signer for the loan. I will be added to the insurance once i have the license. I will be paying off the car with her, even though it wont be in my name, so wondering how i can be legally added to that obligation eventually?

[Jon&Lindsey 0]

We bought a vehicle (RV) here jointly while awaiting AOS, but it worked out as the owner of the car lot was financing us himself, so he didn't care about my (lack of) credit history/SSN. Both our names are on the payment agreement, which we plan to take to our interview. Now we have paid it off (we paid a really high weekly rate to get it done quickly) and I can be added to the title as I have an SSN now and should finish getting my licence here next week. Like the others have said, I think you would have a hard time getting your name on it for a new car and financing from a bank. It is a good thing to have for proof of a bona fide relationship, but not essential, so I wouldn't stress too much over it if you have other evidence of your relationship. If you really want to have your name on it, maybe do something like we did and get something older, financed directly from the seller? Your insurance premiums would be less also if it's not a brand new car.

[Dr_Evo 0]

in my opinion, it would be best if you hold your purchase off until you get your ssn. borrowing money for a car is one of the best ways to jumpstart your credit. basing on my experience, adding you later on will be a lot of headache not to mention that you may need to refinance your vehicle as they have to do a credit check on you, etc bringing up the interest rates. mind you the interest rate will be different if there is a co-signer for a car with bad or no credit as you have no established history yet. i also thought of doing the same thing when i bought a car for my gf, (now my wife) back in 2002 as she recently came here on b2 with an h1 conversion. i thought i could add her onto my financing and title and somehow we tried to do it and eventually gave up because of the hassle and traded the car in for another one this time with her as a co-signer a few months ago.

i am in the autofinance industry and i have not seen a lot of customers do what you are planning to do nor have a seen it at all, they usually obtain new financing from an outside company and payoff the principal from us.

Edited October 10, 2008 by Dr_Evo

[Hydey 0]

Thanks for all the advice guys and girls, unfortunately we cannot wait as the new car is an essential, if you were driving in our current one you'd understand! We have other evidence, just going to look to do it in the near future. (adding me on that is)

Thanks again!

[colinjess 0]

how long do you have to wait before you can drive in the usa!

i am 22 never drove in uk! so i will have to learn in the usa!!

do i have to wiat for the Green card or can i learn just with a SSN ??

any help would be great

[unforgettable fire 2]

how long do you have to wait before you can drive in the usa!

i am 22 never drove in uk! so i will have to learn in the usa!!

do i have to wiat for the Green card or can i learn just with a SSN ??

any help would be great

You can apply for your drivers license as soon as you get the EAD and therefore the SSN. It is so easy to drive especially if you choose automatic. good luck with it though!

[ManuFred 10]

how long do you have to wait before you can drive in the usa!

i am 22 never drove in uk! so i will have to learn in the usa!!

do i have to wiat for the Green card or can i learn just with a SSN ??

any help would be great

You can apply for your drivers license as soon as you get the EAD and therefore the SSN. It is so easy to drive especially if you choose automatic. good luck with it though!

I think you should just go check with your local DMV office. They can tell you about the local requirements for obtaining a driver's license. Some states have good websites so you probably can find it on there.

My experience with Kansas City office was not that good. They told me I could have a temp. Missouri driver's license as long as my K1 was valid. Fortunately, I had already a Utah license which is still good for few years. My wife had a car so we both drive hers. She added me to the insurance and all is good and legal. Only thing we cannot do is buy a car and put it in my name. In case we buy another car before I get a new driver's license we will put it in my wife's name and put both our names on the insurance.

[stephandmuz 0]

Thanks for the info mate, i'm in New Jersey. My Wife will probably have the car ownership in her name solely at the moment, as i don't have my SSN or EAD yet, but once i have that, is it possible to add me later on as a joint owner?

I believe you will be able to do that, I guess first she will have to contact the bank or lending society and take it from there, maybe you can call the DMV and ask about the process as well.

Once you get your driving license she can add you to the car insurance that is also a good document to have!

Just remember that if you are a driver on a newish car, being 19 and no driving experience your premiums are going to probably cost more than the monthly payments on the car.

Since there will be a bank lien on the car, the title will be kept by the bank or other lending company. The title will not come to her until the loan is paid off. So, to have the property transferred to you as joint owners (once you have the SSN and a drivers' permit) it will require the bank's approval as well as the Division of Motor Vehicles. If you have no credit history, the bank might balk. As noted, the insurance premiums will skyrocket, depending on where in New Jersey you live. Best to leave it alone and try to pay off the loan as quickly as possible.

I think the plan is for her to buy it and for my mother-in-law to be the co-signer for the loan. I will be added to the insurance once i have the license. I will be paying off the car with her, even though it wont be in my name, so wondering how i can be legally added to that obligation eventually?

Your wife would have to refinace the car loan in order to have you added. Because your wife has a co signer, it will be nearly impossible to have the car refinanced. There's the chance that several years down the road, once the lending institution feels confident that your wife will make payments on time etc. They may allow her to refinance and add you. At least this is the way it works in Northern Kentucky.