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Buying car for mother, will they be able to get insured on it if car is in my name?

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  • 15-03-2020 4:36pm
    #1
    arleitiss
    Registered Users Posts: 3,515 ✭✭✭


    Looking to buy Toyota Yaris 2018-2019 for my mother, I want to get it on finance and pay it off over few years.

    From my understanding - the car must be in my name since it will be financed to me?

    If so - will my mother be able to drive car that's not in her name on her own insurance? Or will I have to get new insurance policy (additional from my main) and make her 2nd driver or something?


    Any additional issues with her driving (assuming she can) car that's not in her own name? Does that mean I will need to bring car for NCT etc..?


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    #2
    bazz26
    Registered Users Posts: 51,144 ✭✭✭✭bazz26


    If the car gets registered in your name then the insurance company will request that the policy be in the registered owner's name, normally the only exception to this is where spouses are involved. The problem is that you can only use your existing No Claims Bonus discount on one policy so if you insure the new car as the policy holder on the Yaris then you will be starting a second policy with 0 no claims discount which means it will be expensive.

    Maybe a better idea is to look and borrow a personal loan rather than car loan from a bank or credit union that is not secured so it doesn't matter who the car is registered to. Downside is that usually unsecured loans command a higher interest rate as they are higher risk.


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    #3
    Carodh
    Registered Users Posts: 121 ✭✭Carodh


    First rule of insurance- You cannot insure what is not yours.


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    #4
    arleitiss
    Registered Users Posts: 3,515 ✭✭✭arleitiss


    bazz26 wrote: »
    If the car gets registered in your name then the insurance company will request that the policy be in the registered owner's name, normally the only exception to this is where spouses are involved. The problem is that you can only use your existing No Claims Bonus discount on one policy so if you insure the new car as the policy holder on the Yaris then you will be starting a second policy with 0 no claims discount which means it will be expensive.

    Maybe a better idea is to look and borrow a personal loan rather than car loan from a bank or credit union that is not secured so it doesn't matter who the car is registered to. Downside is that usually unsecured loans command a higher interest rate as they are higher risk.

    If I take out another policy in my name and put my mother as named driver (I may occasionally drive it too).

    If named driver gets into accident and has to claim - would it affect my 0 NCB New Policy or my main Policy?


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    #5
    biko
    Registered Users Posts: 81,223 ✭✭✭✭biko


    That's called "fronting" and is not allowed. https://www.kennco.ie/car-insurance-fronting/
    The main driver is the person to be on the policy.

    Buying -> Insurance forum.
    Once you have figured the insurance out start a thread in Buying for cars.


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    #6
    arleitiss
    Registered Users Posts: 3,515 ✭✭✭arleitiss


    biko wrote: »
    That's called "fronting" and is not allowed. https://www.kennco.ie/car-insurance-fronting/
    The main driver is the person to be on the policy.

    Buying -> Insurance forum.
    Once you have figured the insurance out start a thread in Buying for cars.

    oh, thanks, didnt know that's a thing


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    #7
    punisher5112
    Registered Users Posts: 24,647 ✭✭✭✭punisher5112


    Why buy such a new one?
    Buy one you can afford and place in her name.
    If it's yours you could add as a named driver.


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    #8
    galwaytt
    Registered Users Posts: 12,761 ✭✭✭✭galwaytt


    arleitiss wrote: »
    Looking to buy Toyota Yaris 2018-2019 for my mother, I want to get it on finance and pay it off over few years.

    From my understanding - the car must be in my name since it will be financed to me?

    If so - will my mother be able to drive car that's not in her name on her own insurance? Or will I have to get new insurance policy (additional from my main) and make her 2nd driver or something?


    Any additional issues with her driving (assuming she can) car that's not in her own name? Does that mean I will need to bring car for NCT etc..?

    Two questions :
    1 - Have you insurance on your own car, in your own name already (and are you keeping that insured separately) ?
    2 - Has your mother got insurance (on any car) in her own name (or in the last 2 years) ?

    Depending on the above, you'll have options.

    As for ownership, a personal loan (e.g. credit union) would allow you buy & pay for the car, but nothing to stop you putting the car into your mother's name.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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    #9
    Cork Trucker
    Closed Accounts Posts: 2,553 ✭✭✭Cork Trucker


    My car is in the wife’s name, she’s on my policy, never had an issue. Going on 9 years now.


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    #10
    colm_mcm
    Registered Users Posts: 73,387 ✭✭✭✭colm_mcm


    Cork Trucker wrote: »
    My car is in the wife’s name, she’s on my policy, never had an issue. Going on 9 years now.

    Might be a bit extreme for the OP to marry his mother to get around insurance.


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    #11
    Cork Trucker
    Closed Accounts Posts: 2,553 ✭✭✭Cork Trucker


    colm_mcm wrote: »
    Might be a bit extreme for the OP to marry his mother to get around insurance.

    The point I was making is that it’s not in my name. :o


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    #12
    colm_mcm
    Registered Users Posts: 73,387 ✭✭✭✭colm_mcm


    Cork Trucker wrote: »
    The point I was making is that it’s not in my name. :o

    Spouses are treated differently in this scenario.


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