"Creative" Ways to Handle Car Insurance?

[Skip Brutale]

This morning I had traffic school at the local high school and didnt remember what room number it was so I came a half hour early expecting to find it. Well as you are anticipating I walked around for a half hour, never saw anyone, no signs, no rooms looking occupied or unlocked, etc.

So now my car insurance is going to be like 400 a month. The obvious play is to sell my car. Then I thought, why dont I sell my car to my friend for like a dollar, continue making payments through him, and after its paid off and I no longer need full coverage he can sell it back to me.

Does this work other than the risk of him ripping me off? Anyone have any other ideas?

[itsmesteve]

I don't know how things work in Cali, but in NJ its a major pain in the a$$/ much more expensive to get insurance if you haven't been continously insured for the past 3 years. That's the only issue that comes to mind, though, and NJ is probably the worst state in the nation for car insurance.

[chesspain]

Are you still planning on driving the car? If so, then your friend is going to have to pay the insurance--and if anything happens either he will be liable and/or the insurance won't pay if it is obvious that you were the principle driver.

If you aren't planning on driving the car, then just turn the plates in and let the car sit until you wish to pay for insurance and drive it again.

[youtalkfunny]

I was out of the country for a year. When I got back, I was deemed a "higher risk", and had trouble finding car insurance.

[jakethebake]

So just reschedule to take a different class? They have these things all the time. /images/graemlins/confused.gif

[fluxrad]

Are you still going to drive the car while your friend "owns" it?

If so then you're commiting insurance fraud and run the risk of spending some time in federal pount-me-in-the-ass prison.

Otherwise, your plan is fine. Just draw up a contract.

[Slacker13]

Either you or your friend are going to need to insure the car. The bank is going to require insurance as long as you have a loan with them.

[Blarg]

If you know the right people, you can get hooked up with fake insurance for a couple hundred bucks. Just like people stealing I.D. card blanks, people steal insurance company reg card blanks. Give them your vehicle I.D. number, etc., and you get yourself the card you need to give to the authorities as proof of registration. People do this by the jillions in California. In some neighborhoods they say only about half the people actually have legit insurance.