Results 1 to 10 of 10
  1. #1
    Join Date
    Apr 2020
    Posts
    1

    Default Refinancing a Car with Co Signer when Two People Live in Different States

    My question involves a consumer law issue in the State of: Arizona/California

    The loan to my son's car is in my name and I live in Arizona. The car is currently registered and insured in AZ. He moved to California and we would like to refinance the car in both our names and then he will register and insure it in CA. Can this work and what would be the steps involved?

  2. #2
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Refinancing a Car with Co Signer when Two People Live in Different States

    Theoretically possible, I suppose.

    Entirely up to a lender to tell you if it would work and what the steps would be.

    Call your bank and ask.

  3. #3
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Refinancing a Car with Co Signer when Two People Live in Different States

    I assume he's currently living in California? Most lenders will be able to deal with this. You may have to sign off the Arizona title so he can proceed (which is risky until the existing loan is paid off).

  4. #4
    Join Date
    Jul 2018
    Posts
    157

    Default Re: Refinancing a Car with Co Signer when Two People Live in Different States

    Quote Quoting greatgal
    View Post
    My question involves a consumer law issue in the State of: Arizona/California

    The loan to my son's car is in my name and I live in Arizona. The car is currently registered and insured in AZ. He moved to California and we would like to refinance the car in both our names and then he will register and insure it in CA. Can this work and what would be the steps involved?
    I suspect that you bought the vehicle for you son because he couldn't qualify for the loan. And with the understanding that he would stand for the loan payments or some of them. (Not uncommon.) And now you want to solidify his responsibility for those payments by having his name on the loan. If so, what has happened in the interim rendering him eligible for a loan?

    To begin it seems unlikely that a lender will refinance the current loan in both of your names without both of you being on the title. And currently the pink slip is being held as security by the lender. So any arrangements suiting your purposes will have to pass the lender's approval.

    I don't know why you want to upset the apple cart, but if it is a necessity then just do it in your name. If not a necessity then I advise against it as the lender is not going to be overjoyed in learning that their security has been placed in the hands of a person neither on the loan or the title and burning rubber on the streets of California. And don't be startled if the lender doesn't call the loan because of it. I'm not say that they would call the loan, but why risk it?

    Also I suggest that you acquaint yourself with California's laws pertaining to the vicarious liability or the imputed liability of registered owners of motor vehicles causing bodily injury, death and/or property damage. (See: California Vehicle Code Division 9. Civil Liability of Owners and Operators. [17000 - 17714]

  5. #5
    Join Date
    Oct 2006
    Posts
    16,474

    Default Re: Refinancing a Car with Co Signer when Two People Live in Different States

    Quote Quoting greatgal
    View Post
    My question involves a consumer law issue in the State of: Arizona/California

    The loan to my son's car is in my name and I live in Arizona. The car is currently registered and insured in AZ. He moved to California and we would like to refinance the car in both our names and then he will register and insure it in CA. Can this work and what would be the steps involved?
    Why do you feel the need to refinance? He can register and insure it in CA without doing a refinance.

  6. #6
    Join Date
    Nov 2013
    Posts
    7,056

    Default Re: Refinancing a Car with Co Signer when Two People Live in Different States

    Quote Quoting llworking
    View Post
    He can register and insure it in CA without doing a refinance.
    The title has a lien on it from the lender and the lender isn't going to remove the lien until the loan is paid off and OP likely doesn't have the title. You need the title to register the car in CA.

    However, https://www.dmv.ca.gov/portal/dmv/de...sts/outofstate

    I hope that OP has his son named as a driver on the insurance policy.

  7. #7
    Join Date
    Sep 2010
    Posts
    19,901

    Default Re: Refinancing a Car with Co Signer when Two People Live in Different States

    A title isn't strictly required to obtain a California registration, but getting a title transferred from Arizona to California with a lien is not an issue. The lien transfers over fine.

    Another concern (in addition to insurance) is whether the car meets the smog requirements.

  8. #8
    Join Date
    May 2020
    Posts
    6

    Default Re: Refinancing a Car with Co Signer when Two People Live in Different States

    PAYDAY LOAN is a short-term loan for extreme needs. Last year, my wife needed money because her business was sinking. Whatever tactics and strategies she came up with, there was still an acute need for material means. Her friend then offered to take a small amount with a low percentage of the loan. My wife turned to a trusted online company that grants loans even in cases where your credit status is zero. This is very convenient, while helping to cope with financial difficulties https://credit-10.com/no/bedrift-lan/ these guys saved my wife’s business and now it brings good income. Here is what a payday loan is.

    1. Sponsored Links
       

Similar Threads

  1. Probation and Parole: I Can’t Live with the People I Live with Anymore
    By Misanthropic in forum Probation, Parole and Incarceration
    Replies: 10
    Last Post: 10-18-2019, 04:50 PM
  2. Recruitment: Can I Recruit and Train People Overseas to Work in the United States
    By Julisa in forum Employment and Labor
    Replies: 5
    Last Post: 03-14-2018, 11:09 AM
  3. Probation and Parole: Can Two People on Parole Get Married or Live Together
    By jnellylc in forum Probation, Parole and Incarceration
    Replies: 3
    Last Post: 05-05-2013, 06:25 AM
  4. Unlawful Eviction: Owner Sent People to Box My Stuff Up While I Still Live Here
    By UsernameHere in forum Landlord-Tenant Law
    Replies: 3
    Last Post: 07-31-2012, 11:44 AM
  5. Drug Trafficking / Distribution: Worried About Being Framed for Pot Dealing by People I Live with
    By bass3p in forum Criminal Charges
    Replies: 3
    Last Post: 09-18-2011, 09:10 AM
 
 
Sponsored Links

Legal Help, Information and Resources