How do I add someone on to my existing Title?

Question:
Im about to finance a car, the loan is in my name only, but i live with my parents. My insurance can be much lower if one of their names are on my title, I dont want to add either as a co-borrower on my loan b/c their credit will make my interest rates go up. Is there any way to add them on my title after my loan had been finalized and started?

Answers:

Anyone know of cheap car insurance for my 18 yr son thanks?

The bank will insist that the title match the borrower(s) on the loan. The only way to change the title once the loan is done is to refinance the loan & obviously you do not want to do that.
So, you will have to get your own policy, sorry.

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I wrote this looong thing, and then re-read it and it really didn't pertain very much.

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But basicaly, no. I could be wrong, but once you get a loan on the car, the bank will see it as 'their car' that they allow you to drive as long as you pay them so much per month, and eventually the car is yours. If you add them to the title, even after the lien has been finalized, the bank will still make the interest rate go up.

Car insurance??

Again, I could be wrong, but thats my two cents. After all, isn't that what CarQnA.com is all about?

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CAR INSURANCE? I have been driving on parents insurance for 6 years I have no, no claims discount.?

If you're financing the car, the title is in the name of whomever the loan is for and there is no way around it. When the car is yours, you can title it however you want.

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For insurance purposes in California, you can be added to your parents insurance if you live with them, Their names do not have to be on the title to have insurance, if your name is on the title you have to be insured. My Dad just financed a car for me, I added my Dad to my insurance policy as an
excluded driver, meaning he is on the policy for financing reasons, but excluded from driving the car (because he has a DUI). It cost me nothing to add him that way.

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