... the title until the loan is paid off, and he be the registered owner? Or is legal owner reserved for a bank?
Responses (1)
Depends. If you are using finance from a bank say a loan, then the bank owns the vehicle.Personally I think it's risky for you. If he crashes the car, you will still have to pay the money back.Also is the boyfriend under 25 years. In my country(New Zealand) under twenty-five year olds pay a hefty premium for insurance.You must have insurance for a bank loan.. I wouldn't do it if I were you.