Whose car is it and who should be using the car?

[Anonymous]

Hi, so I bought a car recently but it's under my brother's name. I paid in full with my hard earned money. I am also paying monthly for it. It's under my brother's name because he has a better credit score than me and because I still only have my permit. I am the cosigner. However, he uses it more than me. To get to work, to his friend's house etc etc while I use my dad's car. I think it's unfair because I bought it for me to use but he says it's under his name. Who has the right?

[joehypo1]

Its your car it is only under his name because your no credit or low credit and so "under his name" really means if you decided to stop paying on it then he is responsable for the payments thats the loan part of it now if it os registered in his name and insured under his name thats diffrent but the bank technically is the owner since they have the title to the car untill it is payed off , Most loans that you get for motor vehicles require full coverage insurance so that if it was totaled out in a wreck the bank will still get the loan paid off , I had been in same situation when I was your age and I got into a bad wreck and so They sent insurance adjuster out to look at the truck and 2 days later i had a 10,000 dollar check in the mail I only paid 7500 for the truck I took the check to the credit union where the loan was from and simply said I would like to go ahead and pay off that loan and deposite the rest into my account and they did and from that point onI was able to take loans out with out a cosigner. As far as you situation goes all the payments are building your credit and nothing on his credit changes unless he had to pay it off It's your rideThe bank does not give a crap how you got the money to pay ot off , and if their is a way to make double payments , like if you could afford to do that its cheaper for you l, you can make a payment for any amount as long as it is or is more than the minimum payment, something that people may not know is instead of a large down payment , you can use that down payment money to start doubling up on payment I did thia when I bough a motorcycle and I was over a year ahead on payments that ment if something were to happen like lose my job my actual payment due date was a year ahead , you pay less intrest ob the loan the intrest is how banks make money off loans so if you had a 2 year loan and paid it off in a year the bank loses out on a years worth of intrest , sorry for the long reply

[Static_In_The_Attic]

You are not the owner.

Documentation is what it’s all about & legally if your brothers’s name is on the paperwork your brother is the owner of the vehicle. As for co-signing what exactly did you co-sign for? A loan or did you sign something where you have co-ownership?

As for payments on the vehicle when the monthly statement comes in who’s name is on the loan or payment booklets?

Right now the bank technically owns the vehicle & when the loan is paid off a title will be issued & if your brother’s name is on everything he is the owner.

That was nice of you to buy your brother a car, you are a wonderful sister.

[Asker]

sure, legally is his car. but morally it's mine because I'm making all financial payments. this where it's unfair. I picked the car, I bought the car and I'm making payments on it. I have the right to change ownership too so this makes it fully mine. Don't you agree? I understand why he feels entitled to use it more than me or at all because the car is under his name. But it's still mine. He doesn't want to be responsible for any of the payments because he says it's mine. Isn't this unfair?

[Asker]

Am I wrong?

[Static_In_The_Attic]

Legally it’s his car & morally wouldn’t hold up in court although you can prove that you make the payments. What I can’t understand is why you didn’t buy the car under your name in the first place?

If your brother smashes up the car & it gets totaled is it your car or his?

A word from the wise. Don’t co-sign for anyone especially friends. A friend misses a payment & your credit score will go down the toilet. As for your brother if he didn’t want to be responsible for payments you should of never co-signed & you should of put the vehicle under your name.

The payment booklets or payment statement who’s name is on it?

[Asker]

I co signed because I only have a permit. My driver's license/road test will be in a few months. Once I get my driver's license, I can finally switch it. What I'm trying to say is that since I'm making the payments and since I bought it, I have the right to drive it more. The payment statement is under his name. But I am paying for it all. I am paying for it because it's my car. He offered to put it under his name to help me buy it. That's all he did. If I am paying for it, I should have full access to what I'm paying for and what I paid for. I'm not taking it to court. Just I want to know if I have the right to full access to something I'm paying for.

[Asker]

I couldn't buy the car without a driver's license.

[Static_In_The_Attic]

The car is under his name, the payments are under his name so that make him the owner legally.
If you couldn’t buy a car without a driver’s license because you have a learners permit you should have waited until you got your drivers license because right now you don’t have the right to full access because the car isn’t in your name & if truth be told you are just the sucker paying for someone else’s car.

[Asker]

we discussed before buying the car, that once I get my driver's license we will change the car under my name. if I tell him I want to change the car under my name after i get my license, he will do so because it's my car. if I stop making payments, he will simply return the car because he doesn't want to pay for it and he doesn't want the car. he is only using it until I get my license. he understands that it's my car, just it's under his name temporarily. he knows this. I think you are telling me that it is fair and just if someone is paying the full rent but the apartment is on someone else's name for example right? because I completely disagree. the one paying should have full access regardless whose name is it in. i know it's under his name but he is not paying for it. I posted this question to read different opinions of other people and I wanted to see what other people think so thank you really for sharing your point of view.

[Spencer10]

Sounds like a pretty good deal for your brother. I hope you have the receipts lol I am not a lawyer so I cannot speak to legal claim but morally its your car in my opinion. You bought it. His involvement is out of convince.

[molonski2]

On info you have given .. Its YOUR car , not his , tell him give it to you.. full absolute access.

[Tarifa]

The one who's paying for it: you.

[Staximus]

Go get your driver's license