Pros/Cons of buying from a family member

heisenberg123

I'm strongly considering of buying my brothers car but I'm thinking of leaving the registration in his name so as to not increment the Number of Owners by 1 and maybe give the car more appeal come resale.

What do people think of as a strategy? Are there big cons I'm over-looking by leaving it in his name? FWIW we get on well so he isn't going to shaft my legally etc.

readytosnap

There could be an issue with insurance, as most ( if not all) insurers require the main policy holder be the registered owner of the insured vehicle.
plus you could always photocopy the log book with his name on it then get it changed to yours ( for insurance reasons) and if you are selling to someone in the future you can show them 2 of the owners are from the same family so the history of the car is well known by you. ( assuming that's the reason you don't want too many owners ).

Duke O Smiley

That just sounds very unnecessary.

I doubt anybody ahs ever said, "oh, this car has 1 too many owners for my liking so I won't buy it"

Actually, I'm sure there are people who would, but you don't want to sell cars to them anyway.

I still wouldn't buy from a family member anyway.

colm_mcm

Buying from family is not recommended.

bazz26

If your taking out your own policy then the insurance company will insist on the car being in your own name as the policy holder must have an insurable interest in it.

Regarding pros v cons buying from a family member. The cons usually out way any pros and it usually ends in nothing but agro for everyone involved.