I did not own my first car. I just got a hand me down truck that my dad use to drive. The title stayed in his name because he payed insurance on it. I was to involved in school to have a job or else I would have paid for it. I would say keep the title in your name for insurance purposes. I bet you will see a major difference in price and save her money.
I am 21 so like you said times may have changed.
Posts: 38432 From: Carrollton GA. Out in the... country. Registered: Oct 1999
Until close to end of my senior year, "my" car was not titled to me. That way it was my parents property to do with as they pleased if I didn't keep my end of the deal. Insurance was also in their name, I was just a listed driver.
[This message has been edited by Rainman (edited 08-23-2011).]
Posts: 2808 From: Woodstock, IL Registered: Dec 2009
Once your daughter is 18 she will be considered a 'legal' adult and be able to make legal decisions on her own, before that it's all on you or her mother. For liability issues, you want her name on the car and insurance as soon as possible. If she can't afford the insurance you could have the vehicle and insurance in your name, but you still need to have her listed as the principal driver, especially if she is the one who will be driving the vehicle the most.
Posts: 6258 From: Commerce Twp, MI, USA Registered: Jun 2002
No, to keep insurance costs down my first car was titled and insured to my parents. I still was paying $150+ a month for liability only insurance because of where I lived, had it been in my name it would have been well over $200 a month.
I bought my first car outright at 17... TN doesn't have a minimum age to title a car, however, since it was registered as a "recreational" vehicle and not as primary car, the insurance company wanted the title in the name of the policy holder (my dad). Saved at least $20 a month (vs. if it was all in my name) because it was bundled with the home insurance policy.
He still holds the title but Judas isn't registered or insured anymore. Got something a couple decades newer to daily drive.
[This message has been edited by skuzzbomer (edited 08-23-2011).]
Posts: 11131 From: South Weber, UT. U.S.A. Registered: Jun 2008
The first car I drove was owned by my parents and titled in their name. When I graduated highschool I bought my own truck and it was titled in my name at age 17 (yeah, I graduated when I was 17 and turned 18 about two months later).
[This message has been edited by Khw (edited 08-23-2011).]
1982 I bought my first car at 15, went down to DMV to title it in my name. My Dad followed me home before I got my permit. I spent the next year taking it apart and putting it back together. I paid for my insurance on my parents policy.
I am pretty sure that my parents could have invalidated the title because I was under 18. It is contract law. Mervyns store gave me my first credit card under 18, no co-signer( only $50 credit ). Companies and the state can let you be in a contract even if your parents can over rule its' enforcement.
Posts: 4774 From: Brooklyn, NY Registered: Mar 2010
Bought my first car at 19 (the Fiero)- I don't own it. My bro is 27 with a clean record so its all in his name, hell I'm not even listed as a driver in the policy and he doesn't even have a clue how to move my car in case he had to lol (I really should teach him..). Insurance is at least 3x less, I'm 20 now and don't plan on putting the car in my name until I hit 25.
In NYC, without having the car titled in a parent's or older siblings name- you can forget car ownership unless you have some kickass job at a really young age. I was getting quotes for a 3rd or 4th gen Z28 or T/A and they wanted $3k per 6 months LOL
Marvin McInnis Member
Posts: 11597 From: ~ Kansas City, USA Registered: Apr 2002
I did not have a car when living at home I did have motorcycles titled in my name
Yep. I was allowed to drive the family car (a Pontiac station wagon) in high school. In college my sole transportation was a 250cc motorcycle that I bought as a basket case, titled and insured in my own name. I was almost 23 when I finally bought my "first car" ... a 1951 Riley, into which I promptly swapped an all-aluminum 215 cu-in Buick V8. Of course, all this was half a century ago. Times have changed.
[This message has been edited by Marvin McInnis (edited 08-23-2011).]
Posts: 3877 From: Cincinnati, Ohio Registered: Jan 2003
I always find it interesting to read about the different experiences people on this board have. I'm often curious if the differences are due to regional, cultural, financial, etc.
Likewise. I lived within the region insurance companies use when they factor Philly insurance rates, so that's why they went under my parents name, to try and at least save me a little money. When I moved to Lancaster county my monthly insurance went from $115 to $40 because of a change of address.
When I bought my bike I titled it, insured it and what-not in my name but my first cars were in my parents names.
Posts: 20834 From: Roswell, Georgia Registered: May 2001
My father gave me his old car as my "first" car. It was still in his name on the title so I suppose technically it was his. But the tranny failed on me after a year and I bought my own car titled in my name after that. Nothing unusual about a young driver owning their own car to me.
Gokart Mozart Member
Posts: 12143 From: Metro Detroit Registered: Mar 2003
Initially I did not own my first car, it was on loan, but I purchased it from my parents when I turned 18.. (For a princely sum of $1500..) and promptly got into an accident where someone pulled out in front of me.. and doubled my money I spent from insurance. ($3000) That worked out pretty well for me actually.
My Dad told me had he known what was going to happen, he would have never let me buy it.
EDIT: The car, by the way, was the chariot of all great 80s rides, the 1982 Ford Fairmont. In tan and brown two-tone, and plaid seats.
[This message has been edited by tbone42 (edited 08-23-2011).]
My 1st car was in my parent's name as was the insurance, but as my income grew, I wasn't comfortable with that arrangement. Mainly because if they got mad at me for some reason (of which I provided many in my wild youth) they could take it from me as a form of punishment.
At 18, I bought my 1st car in my name...a Buick Riviera.
[This message has been edited by Doni Hagan (edited 08-23-2011).]
Posts: 49593 From: A Western Caribbean Island/ Columbus, Ohio Registered: Apr 99
I purchased my first car when I was 14 and held the title in my name. Same with every car I’ve owned since but some did have liens. The first was an old car that I never did get running so it was not licensed or insured. I bought another old car for cash after I got my driver’s license and purchased my own insurance and paid the plate fees. I worked after school and on weekends to support that car.
[This message has been edited by spark1 (edited 08-23-2011).]