Joint ownership of car?

[playnice 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.

[playnice 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.

you are just asking if you can be put on the title of the car?.....in wisconsin.....you can own a car if you dont have a license, and you can be

put on the title even if you are not the one paying for the car..........you can own joint own a car without driving it.....or maybe i didnt get

what you are quite asking.......

[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.

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.

you are just asking if you can be put on the title of the car?.....in wisconsin.....you can own a car if you dont have a license, and you can be

put on the title even if you are not the one paying for the car..........you can own joint own a car without driving it.....or maybe i didnt get

what you are quite asking.......

Is the only reason for you being on the title/loan etc for evidence of marriage? If that's the case, you are going to be spending a lot of money for this when there are so many other easier routes. Like it was said before, you will need to re-finance to be added to the loan, this can be very costly. Being added to the insurance when you have a brand new license for a new/newish car is also going to cost you a lot of money - again your best bet would be to be driving an older car.

If this is all for evidence, look at the other avenues rather - just my personal opinion.