Loaner of a Vehicle
I bough a vehicle for my nephew and his girlfriend under my name, they are supposed to make all payments and insurance to me on time. What type of form should I use in this type of situation?
Answered on: 12/30/07, 11:15 pm by Jonas Grant
Re: Loaner of a Vehicle
These type of arrangements are not recommended - almost invariably, the party with possession of the vehicle don't make payments, dispute the amounts owed, seek to return the vehicle to you or allow it to be repossesed, or fail to maintain adequate insurance coverage. If the bank won't loan to them, you shouldn't either.
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