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Underage kid with a car


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We put our name on it so there was no way they could sell it and buy something we didn’t want them to have.

 

When they became adults with clean driving records and no tickets or accidents, we changed the titles into their names.

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If I paid for it (and I did), mine.  That gives me the right to take it away if I need to.

 

I did look into the potential liability for negligent entrustment, but barring actual knowledge of issues with her fitness to drive (which would cause us to take away the keys anyway), the possibility of our being liable for damages above the limits of our insurance policy is, in our state, remote.  

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I bought and titled in my name two motorcycles before I was 15 and a car by the age of 16. My money. My responsibility. Paying the taxes sucked and I was late renewing the tags on my car the first time and the late fee suckef, but it was part of growing up and taking on responsiblity.

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Our kid car is our oldest vehicle.  We bought it, we insure it, and we license it in our names.  Dc have the privilege of driving it while living/visiting in our home.  We will help them purchase a vehicle of their own by matching what they save toward the purchase cost, but they need to earn enough to cover the insurance costs, repairs, and licensing.    

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You should talk to your car insurance agent. You probably want to do whatever will minimize your personal liability (beyond what insurance covers) in the event of an accident. Every state is different. It might make sense to title the car in the kid's name with a separate insurance policy.

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Oldest's was in her name as it was given to her by her grandmother. She passed that car down and had one given to her by her grandfather. Before you roll your eyes, we're talking beater cars here! Her current car is actually in my name because of OOS tuition rules. Navy girl was given my old minivan and we put it in her name so she could keep her CO plates when it was given to Wounded Warriors. She bought her own truck whilst at USNA. Middle dd's was in her name because she bought it from a friend for $10--it's still going strong at 25 years old! She left it for her brother until he bought an old Blazer that he's still driving. He'll get rid of it when he heads to AF cyber school. And the last one is still driving (when she's home) the 25yo Buick. It's a classic--it has flames on the side. The vehicles stay on the ranch's insurance as we get a fleet rate, until they are launched. 

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Our kids aren't underage now but their cars are and always have been in our names. Mostly because they were hand-me-downs from us and so everything was already in our names. It never really occurred to us to switch anything. But at the time we handed them down they were (and one still is) quite valuable. A clunker might be a little different, maybe.

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My dad highly suggested that we put it in our name. He said, “you want it to be legally yours. Then you have leverage if he starts making bad decisions, etc.†😂. Since my dad gave him the car as a gift, we heeded his wisdom on this one.

Also, like someone said up thread, they can’t decide to sell it, etc.

Edited by Attolia
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i agree with pp about looking into the insurance before deciding. Is the best rate from adding on to your existing policy or creating a separate policy. I don't know if it varies by state, but when we bought dd a car, she was moving out of state and needed a separate policy, which required the car to be titled in her name.

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The car that I bought at age 16 was in my name because I bought it with my money.

 

Why? I‘m not exactly sure. I guess my parents knew my personality was mild (not going to be drag racing with the car) and if I was earing the money, then they figured that how I chose to spend it was my business. I don’t remember how it affected insurance.

Edited by Garga
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You should talk to your car insurance agent. You probably want to do whatever will minimize your personal liability (beyond what insurance covers) in the event of an accident. Every state is different. It might make sense to title the car in the kid's name with a separate insurance policy.

 

Yup. Here it would be much much less expensive to have the kid have the car in their name with a separate policy.

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If you have an under age kid with a vehicle whose name is on the title?

 

And why?

 

 

Our oldest DD has bought a couple cars and DS has one.  Both had the vehicles in their own names, after all, they were bought with their money.  We insured them.  The next kiddo will probably drive our car so it will stay in our name because we bought it. :D

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When our daughter buys herself a car at 19 as planned, we will have a parent name on the title as well so she can remain on our auto insurance policy.  Auto insurance is much, MUCH cheaper that way here.  When she gets to the point of needing her own policy (probably after college), we'll remove the parent name from the title.

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We've always had either my name or my spouse's name with the minor child's name on the title because of insurance.

 

Now we have the inconvenience that my 24yodd is moving on to a new vehicle and is selling the old one and we realized that we never transferred the title completely to her so now my husband will have to be involved in the sale since his name is on the title.  Not a big deal . . just an inconvenience.  We also discovered in the same conversation this weekend that my dh's name was/is on both of our oldest kids' titles for their first car but my name is the one on my third son's title.  He decided it showed who I loved the best - LOL!  It gave us all a good laugh!

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