California  |  Credit and Debt Law

Legal Question

Asked on: 12/29/07, 4:10 pm

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?

1 Answer

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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Law Office of Jonas M. Grant, A.P.C. 20700 Ventura Blvd., Suite 328 Woodland Hills, CA 91364

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