Hawaii Nesties
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We're thinking of getting a new used car from a private party (so it will be a cash transaction paid in full) -- is it better to put both my name and MH name on the title/registration? Does it matter? What are the pros/cons?
Re: Car Title/Registration
The only thing I can think of, is that is both of you want to build more credit, then having both names would build both ppl's credit, whereas I think if it's only under one person's name, it would only build his/her credit. Or maybe it doesn't matter if you're married and in a community property state?
MH and I haven't bought a car together yet. We're still driving the cars we had since before we met, so they're under our own names so I haven't given this much thought yet, but what Amy mentioned is a good practical reason for keeping it on one person's name.
our cars are always in my name only - b/c I don't pay sales tax. My mom has always done the same and never had an issue.
Practically, there is a licensing outlet near my work that is never crowded so it is easier for me to take care of transfers, renewals, etc.
PP had a good point about credit, but we don't have car loans. We live in a community property state so he owns 1/2 anyways since we purchased together. Well, actually if you want to get technical - our newest car was a gift to me from my dad out of my grandparents' estate - so it could be separate. haha.