"Co-Buyer" of sports car. Insurance liability?
Hello all,
I was not terrifically clever and bought a car with my ex GF. She have bad credit so I helped her out.
I am not worried more or less the loan payment. I check with lender occasionally and will repay it if needed.
Per Toyota she is listed as “buyer” and I am listed as “co-buyer”.
I get a registration renewal notice in the e-mail addressed to “her” or “me”
Like I said I am not worried about the loan contribution. What worries me is this:
Can I be held responsible if she has an accident? The vehicle was added to her mothers insurance policy by the car supplier the day we bought.
Apart from the loan payment do I hold any other liability?
Thanks for your advice.
i also answered the cross-question.
are you looking for someone to tell you that you will be off the hook?
answered this yesterday/ when the car is rewarded take your name sour of it/right now all you get is to make sure the ins gets compensated to end of note. if she reneges you own to pay for the car and the insurance / generate sure the ins is courrent on liability/ why dont you call ins co and give them the story
"> If your name is nominated on the registration then yes you are liable as co-owner of the vehicle for any damages/injuries that are caused by the vehicle. Your ex-GF's mother's policy will NOT cover you at adjectives. I don't know why you let the car peddler handle the insurance, they are not insurance professionals and do not know what they are doing. Anything a car agent does is to benefit themselves, in this case trying to insure the vehicle as cheaply as possible to find the car off the lot, regardless of whether it's proper. The proper path of doing it would be to insure the vehicle with both yourself and your ex-GF as the policyholder. Now it's just a big mess. If I be you I would get my name rotten the title right now or arrange a insurance policy to cover your liability.
Related Questions:
I was not terrifically clever and bought a car with my ex GF. She have bad credit so I helped her out.
I am not worried more or less the loan payment. I check with lender occasionally and will repay it if needed.
Per Toyota she is listed as “buyer” and I am listed as “co-buyer”.
I get a registration renewal notice in the e-mail addressed to “her” or “me”
Like I said I am not worried about the loan contribution. What worries me is this:
Can I be held responsible if she has an accident? The vehicle was added to her mothers insurance policy by the car supplier the day we bought.
Apart from the loan payment do I hold any other liability?
Thanks for your advice.
i also answered the cross-question.
are you looking for someone to tell you that you will be off the hook?
answered this yesterday/ when the car is rewarded take your name sour of it/right now all you get is to make sure the ins gets compensated to end of note. if she reneges you own to pay for the car and the insurance / generate sure the ins is courrent on liability/ why dont you call ins co and give them the story
"> If your name is nominated on the registration then yes you are liable as co-owner of the vehicle for any damages/injuries that are caused by the vehicle. Your ex-GF's mother's policy will NOT cover you at adjectives. I don't know why you let the car peddler handle the insurance, they are not insurance professionals and do not know what they are doing. Anything a car agent does is to benefit themselves, in this case trying to insure the vehicle as cheaply as possible to find the car off the lot, regardless of whether it's proper. The proper path of doing it would be to insure the vehicle with both yourself and your ex-GF as the policyholder. Now it's just a big mess. If I be you I would get my name rotten the title right now or arrange a insurance policy to cover your liability.
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