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Asked: Jul 31, 2008 - 06:07 PM
Status: Closed
noplace
Purchasing a car without a driver's license
A close friend has asked me to purchase a used car (on credit) for him, but I don't have a driver's license. He needs it for work. Can I do this, and if so, how would I register the car without a license with DMV? I never learned to drive and am too old and scared to learn now. My friend can't purchase the car because of poor credit. Thanks for any info.
In Car Insurance > Buying Insurance In Buying & Selling > Car Buying In News & Events > Traffic Laws > State Vehicle Laws5 answers - 482 days ago
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patrick88
Date: Jul 31, 2008 Time: 09:34 PM
Never too old to learn, but......You can take the loan out in your name but he/she will have to register it in his/her name.Or have you tried to co-sign a loan for this person?I know when I bought a relative a car I financed it and had her register and title it. Now having said that, it all depends upon who you finance it through, they may want your name on the registration/title in case you default on the loan and they can get it back. In my state you can title a car without a drivers license.
simpilot1
Date: Aug 01, 2008 Time: 05:15 AM
My advice; never, never, never, have your name on any documents related to someone purchasing a car with your assistance. If they miss or make a late payment your credit will be damaged. If they have an accident you could be liable for the damages. If you feel you must help take out a personal loan in your name alone, give them the money, and have them sign a promissory note to you. I'd also suggest you plan on them not paying you back. If they were good for it they wouldn't need you to begin with. Also hope it doesn't destroy your friendship whether you help or don't.
Date: Aug 01, 2008 Time: 12:18 PM
Thank you both for answering. You have both given me some food for thought.
Date: Aug 01, 2008 Time: 02:21 PM
One more thought or opinion. Really good friends would never ask for a loan out of fear that simply asking for it would damage the friendship.
Date: Aug 01, 2008 Time: 02:58 PM
I can also agree with what Sim said, it's very risky taking out a loan for someone even family. And yes it can cause a lot of problems with relationships, but sometimes you do have to take a chance.
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