Auto Loan
Posted: May 27, 2019, 7:27 PM


Posts: 1554
Joined: June 27, 2016



Talk your son into paying off the loan. He’s making extra money and has a roommate, he should be able to swing $500 a month or more to get you off the loan hook sooner.

driving w out ins is an arrestable offense. Police can scan license plates and run them thru an insurance data base to see if the car is insured. That happened to my son in Florida. There might be more to the story... idk. But one thing leads to another eventually.

This post has been edited by NyToFlorida on May 27, 2019, 11:22 PM
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Posted: May 28, 2019, 7:21 AM


Posts: 188
Joined: July 6, 2018



Please, please work on getting out of this loan. Your last post is sending all kind of red flags. I might be a Debbie Downer or a Negative Nancy but things sound fishey.
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Posted: May 28, 2019, 7:57 AM


Posts: 463
Joined: November 9, 2018



Yes if your name is on the title you are liable for anything that happens with that car. If there is an accident and someone is hurt or killed your name is on the title. Also no insurance it's your responsibility because your name is on the title. Its really poor judgement your son is allowing his roommate to use your car. I know you talked to the roommate did you talk to your son? I think I would be taking the car back or just have his name on the title to release yourself from the liability. But I guess you cosigned the loan so you have to be on the title. Doesn't sound good to me either.
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Posted: May 28, 2019, 11:44 AM


Posts: 182
Joined: December 21, 2018



What Sallyanna said. Everything is in your name. You are responsible. Yes he might suffer drivers license consequences but you will suffer the legal & financial consequences.

I've also seen this scenario . The alkie lets his girlfriend drive they car his parents titled and insured for him. By his own admission she has a crappy driving record constantly getting tickets. Once someone becomes a regular user or has regular access to that car the insurance company is supposed to be informed. The girl friend here has a job almost 20 miles away with both intense highway & city driving.

This is absolutely ignorant on your son's part. But alkies & addicts tend to ignore potential consequences only thinking about their desires & needs. They are extremely selfish. They view things like a car or money as a thing that can be borrowed like a cup of sugar. It's trivial to them. But that's why they are an alkie or addict. They can't deal with or think about the small routine stuff most sober & conscientious people do.

This post has been edited by samegame on May 28, 2019, 11:53 AM
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Posted: May 28, 2019, 7:03 PM


Posts: 186
Joined: December 23, 2018



If the registration & insurance is in your name, then yes you too are legally & financially responsible if he is in an accident. Your assets could be in jeopardy & if payments aren't made, they'll attach send you to collections too. But a serious car accident (serious injuries or death) would be devastating to everyone involved
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Posted: June 4, 2019, 8:48 AM


Posts: 35
Joined: May 5, 2019



Son still has not secured Auto Insurance. It baffles me. He knows full well it's illegal to drive without insurance. When I asked him Sunday "where are we at with the insurance" he said "it will be taken care of Friday. (Payday)" Money spent on everything else though - new Fitbit, concerts, Pittsburgh Pirates game.

I glanced thru a post real quickly just now about the effects of drug use on certain parts of the brain and that made sense. Decision making skills are truly affected.

I stressed the need to get insurance and shared that it would be a real mess for me since his friend is also driving "my" car.

I recently "dangled the bait" with him and spoke of trading my 2017 Altima in for something else. Hold on for this one: he said "well let me know when you do that so I can trade this in too. I'd like to get a Chevy Blazer!" Let's just say folks, no more consigning for this Mom! It's that constant sense of entitlement that addicts have...

Will keep y'all posted! Also, it's car payment time again and hoping for the best!
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Posted: June 4, 2019, 2:21 PM


Posts: 188
Joined: July 6, 2018



I have heard all the excuses you son and friend are giving you. I have had my daughters friends look me in the eye,smile and tell me how they are helping my daughter and money will be paid on pay day.
It's all lies.
You soon be getting a letter from the state stating registration has been pulled for 3 months and there is a fine. The insurance company might drop you or raise rates.
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Posted: June 4, 2019, 2:56 PM


Posts: 316
Joined: November 16, 2017



In the same boat with illogical thinking, poor decisions, seeminly unaware of consequences ready to smack them in the face. Then, after consequences, disbelief that the consequence happened and the blame-game begins.

This post has been edited by Parenting2 on June 4, 2019, 2:57 PM
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Posted: June 4, 2019, 7:40 PM


Posts: 1554
Joined: June 27, 2016



anaju - hi - I'm thinking about the car issue. Is the car registered to you or your son?

Here is where I see the situation as a problem for you. You are co-signer. He does not have insurance. There is a loan on the car. legally the car has to have insurance to cover any loss if there is an accident, to cover the loan amount. You are co-responsible to have insurance on the vehicle. If the car is wrecked in an accident, the insurance will not cover the value of the car and you will have no car for your son, and you will still have to pay the loan off.

Another part of this - gap insurance. Figure out the value of the car. if the value is less than the loan amount you want to have gap insurance. the regular car insurance will only pay the value of the car towards the loan. if that value is less than what is owed you will have to pay the difference.

You may want to put insurance on the car to cover your self.

What are the chances he will have fender benders, hit others, total the car. Very common when using.

I joke to my self that my son needs to drive in a bumper car bc he bounces off everything. btw after the past two years of our car issues here with our son, we will never buy him a car or pay insurance or let him be insured on our policy. We have been very very lucky that we have only lost junk cars and not something more serious.

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Posted: June 4, 2019, 7:44 PM


Posts: 1554
Joined: June 27, 2016



thinking more…. a relative's ex partner cancelled the insurance on a car registered to my relative. the car was not being used and was in the garage. after a certain amount of time, my relative got a notice from DMV that the insurance had been cancelled and the plates were not returned, therefore he owed the DMV fines that totaled $15 a day from the date the insurance was cancelled. I think it was over a month. the relative went to DMV with the plates and was not charged the fees.

That situation can happen.
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Posted: June 4, 2019, 7:50 PM


Posts: 1554
Joined: June 27, 2016



Another twist. If there is no insurance and he or his friends hit someone, how does the other person repair their car. I think it will come out of your pocket. The other person's insurance company will sue you and your son for the damages. That could be $1000 - $3000 for a fender bender, the cost of a new car for the other person, and if there is bodily damage, hospital fees... it could be $100,000. easily.

Sorry to scare you. I know I would not be sleeping well at this point....

It will be very hard to keep my son out of our cars and not give in, if he ever comes back home. but that is our plan. the liability is too great.


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Posted: June 4, 2019, 8:00 PM


Posts: 1554
Joined: June 27, 2016



Another story: I was in pretty much the same situation about 4 years ago. My son was in rehab in FL. was in sober living. did not have a car bc he wrecked the previous one. but then he was sober. no public transportation near the SL house. how can he get to work?? he went to a dealership. The sold him a used car for about $17,000, after adding tax and other fees, and they talked me into gap insurance (maybe this was part of the loan) I co-signed. Since he had accidents the insurance and payments were about $800 a month. I started making the payments, he was supposed to take over. He didn't. I could not afford to continue $800 a month. in a few months he said the car needed repairs and that it would stall while driving on the highway. He did not repaire it. As a few months went by I could not keep paying. He could not pay. He soon had an accident and hit a wall of some sort and said the car stalled on the highway and he couldn't steer it. Totalled the car. The car was only worth about $12,000. Of course the dealership over charged him when he bought it. but they did tell me to get GAP insurance. the insurance company paid everything. Luckily, I did not get pulled into being involved in it.
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Posted: June 4, 2019, 8:08 PM


Posts: 1554
Joined: June 27, 2016



Then... my son bought a truck for about $1000. Had insurance on it for a short time. then, didn't pay the insurance. He was arrested for driving with out insurance. at the time of arrest he had gotten into the car in a parking lot, turned the key, and the officer was at the window. Somehow the officer knew there was not insurance on the truck. idk if they can find out from running the plate. some places do have that technology. Of course there were fines and court appearances and tickets. that my son would not pay, so it went on and on until the fees were paid. I don't think my son will be allowed to register a vehicle in FL. he did not have a FL license at the time. They issued him a license so they could suspend it.



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Posted: June 4, 2019, 8:22 PM


Posts: 463
Joined: November 9, 2018



Obviously there is a common theme here with addiction and cars. My daughter has totalled 3 cars in the past 6 years. Her insurance rates are soooo high. Her car which was just bought last year has had 4 accidents in the past 6 months (all her fault). I don't even know if she has insurance anymore. The car is in her name only so is the insurance. Last I heard she is ubering everywhere. I can totally relate to P2's post.
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Posted: June 5, 2019, 9:29 AM


Posts: 188
Joined: July 6, 2018



One other option ,since your son wants to trade the vehicle and his income has increased; let him trade but dont co sign this loan.
Even if the loan is upside down he might be able to finance it on his own. Maybe his roommate will kick some more money.
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