my 2k1 max that i'm driving now..i financed it under my name...i'm was only 21 and the insurance was expensive..i had to pay 5K (8K for one year...21 male NY and maxima) for insurance just so i can drive off the lot and bring it home.....after about 2 months i transfered the registration to my mother's name and use her name for insurance....now i want to trade in my 2k1 for a 2k3 and i'm in the same situation...i can't use my mom to co-sign...her credit isn't that great and it will bring down my APR%..i got 3.9% for the 2k1..and i will maybe get .9% for the 2k3...
my question is...is there anyway i can use my mom's name for the insurance..even if the loan is under my name...?..i don't want to pay that much up front for the insurance...
is there any other ways...??
sorry for the long post..
thanx

 

from what I know, in NY insurance on a car can be under anyone's name, as long as it is insured.

 

so when i finance my car at the dealer...i can use my mother's name for insurance even if the registration is under my name..?

 

sure...as long as you are under it as at least a part time driver...shouldnt be a prob...call up your INS co and ask...

 

When i bought my max i was still under my parents insurance. They had to cosign for me to take the car. It's Different in different states and among insurance companies, i'm sure.

 

Best thing to do is contact the insurance company and ask.

5k for insurance, for one year?

 

Put it in your moms name but you finance it for her. That wasy you are covered.

 

If you don't mind me asking... what is the dealer giving you on the trade-in?

 

When I was younger I had loans in my name with insurance in my moms...my name wasn't even on the policy at some points. This was legal (or at least possible) in NY but when I finally went to get my own insurance they banged me with the "assigned risk" because it appeared that I never had insurance.

Over all it evened out. When I moved to Yonkers NY I kept the insurance address as my sisters house who lived in a nicer neighborhood. If you have a friend / relative who lives in a better area (if that is the reason for the high insurance) it's something to think about. Not totally legal (I guess) but who cares.