rydogz
New Member
- Joined
- May 29, 2009
- Messages
- 128
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- Location
- Central Coast
- Members Ride
- VY II SS
Hows it going guys looking at buying a VY SS soon but I am not keen on the paying $1800 for comprehensive insurance as I'm at uni and thats alot of money to me. A few people have suggested that I put the car in my dad's name and be a listed driver on his policy.
Doing this isn't new to me but this car will be financed in MY name which brings me to the main point: What can I do here?
I am assuming this cannot be done on a SECURED loan and want to know if it can be done by getting an UNSECURED loan in MY name, paying the stamp duty and rego transfer into DADS name and then insuring the car for comprehensive in DAD's name, with me as a listed driver.
Is this legal? The increased interest rate still works out cheaper than the yearly premium difference from online quotes I have looked at. I notice that the insurance company asks whether the car is financed I have got mixed answers from alot of people.
I understand there will be roughly an additional $400 excess for being under 25. For discussion purpose I am 22 with 1 accident 5 years ago:bang:
Any information is welcome, Cheers.
Doing this isn't new to me but this car will be financed in MY name which brings me to the main point: What can I do here?
I am assuming this cannot be done on a SECURED loan and want to know if it can be done by getting an UNSECURED loan in MY name, paying the stamp duty and rego transfer into DADS name and then insuring the car for comprehensive in DAD's name, with me as a listed driver.
Is this legal? The increased interest rate still works out cheaper than the yearly premium difference from online quotes I have looked at. I notice that the insurance company asks whether the car is financed I have got mixed answers from alot of people.
I understand there will be roughly an additional $400 excess for being under 25. For discussion purpose I am 22 with 1 accident 5 years ago:bang:
Any information is welcome, Cheers.