ATV Florida Forum

i had my grama get me a truck with my money long story but im not on the loan but im the one making payments i was wondering if i could get on the loan some how just in case anything would happen i can keep it?

I think the loan would have to be in your name and she would be the co-signer.

ok well can she get it refinanced and switch it around??

I would think so.

I believe that if you're not 18 or older, that any contract or transaction would not be considered as legal and binding.  In this case, I wouldn't expect to go to the tag agency and have the title put in your name.  Hope you trust Grandma!

It's been a while since the old college days though.

I bought a new car in 1984 when I was 17. The loan was in my name and my father was the co-signer. It is possible to do.

Dang, You're old...... ;D
In 85 when I was 17 I bought a vehicle with my grandfather as the co-signer.

Yea 17 with 25 years experience!!

Dang, You're old...... ;D
In 85 when I was 17 I bought a vehicle with my grandfather as the co-signer.
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And I was thinking how young he was!!!!!!!..... :( :(

According to Florida Law. http://www.weblocator.com/attorney/fl/law/contbus.html

In order to be bound to a contract, the parties must be competent to enter into the legal arrangement. Underage persons, persons who are mentally ill, and intoxicated persons usually are not bound by the contracts they enter. However, a minor may have the option of enforcing a contract under some circumstances.

Perhaps co-signing a contract is ok, but as this states, if it's a contract with a minor, the minor has the right to get out of a contract, but can hold you bound to the contract...if he wants to.

But I guess, the original post was if you could co-sign on a title.... different from a single person (Minor) signing a contract.

When we purchased my daughters first car she was also listed on all documents so she could build her credit.

We co-signed for her with US guaranteeing payment if she defalted.

thanks for all the help

I would co-sign, just for the fact, it will help you to establish credit.  But as said, you are under 18, therefore, you can NOT be bound to any contract, whether it be verbal or written.  Therefore, you can only co-sign, and heck now-a-days, the may not even do that, just for the fact your under 18.  She will be the one FINANCIAL RESPONSIBLE until you are 18, although you are making the payments.

But there are ways that you can get your name on the title, and/or loan documents, then once your turn 18 everything can be switched to you....

Keep in mind one thing, cool grandma....  Some would not take that chance, so consider it a blessing.... ;)

Also make all payments in the form of a check and put the loan number on the check.  Make it directly to the lending instatute.  Reason is when you go back to get another loan and they tell you that you have no credit you can show that you have made all payments on this loan and make sure they are on time.