Buying Insurance Now and Transferring it Later?

[Emancipated]

I'm in a predicament. The car I'm using just isn't cutting the mustard anymore and with winter looming, I need a solid car to get to and from work. My predicament is that I only got my G2 but have a G test in a few weeks. For argument sake, let's say I pass my test and shortly there after I go to buy insurance, I'm still deemed as a new/untrained driver so there's no benefit there.

Here's what I'm thinking: I get my older sister who has a pretty pristine record to buy the car/insurance under her name and just put me as a secondary/auxilary driver then do a transfer of ownership/ insured 12-24 months later? Would this be a wise thing to do? In all likelihood, I'll need her to do the financing since she has collateral whereas I'm broke as a college student.

[spf1971]

It's a great idea unless you

1. Default and screw up her credit
2. Get into an accident and screw up her insurance
3. Get caught, have both of your insurances canceled and her credit screwed.

Ignoring the fact it's illegal and causing everyone else's insurance to be higher, you should be ok.

[Emancipated]

It's not illegal. I have no other recourse. One look at my credit rating they'll turn me away.

Something I didn't ask before is, since my credit rating is so laughable on its own, buying a car isn't possible right now. What are the chances of success if I simply have her as a co-signer? I want to be the primary owner on the car.

[rems]

I'm in a predicament. The car I'm using just isn't cutting the mustard anymore and with winter looming, I need a solid car to get to and from work. My predicament is that I only got my G2 but have a G test in a few weeks. For argument sake, let's say I pass my test and shortly there after I go to buy insurance, I'm still deemed as a new/untrained driver so there's no benefit there.

Here's what I'm thinking: I get my older sister who has a pretty pristine record to buy the car/insurance under her name and just put me as a secondary/auxilary driver then do a transfer of ownership/ insured 12-24 months later? Would this be a wise thing to do? In all likelihood, I'll need her to do the financing since she has collateral whereas I'm broke as a college student.

Does your sister already have a car? Cuz you can't have more primary drivers than automobiles in a household.

[COSMIC5]

I'm in a predicament. The car I'm using just isn't cutting the mustard anymore and with winter looming, I need a solid car to get to and from work. My predicament is that I only got my G2 but have a G test in a few weeks. For argument sake, let's say I pass my test and shortly there after I go to buy insurance, I'm still deemed as a new/untrained driver so there's no benefit there.

Here's what I'm thinking: I get my older sister who has a pretty pristine record to buy the car/insurance under her name and just put me as a secondary/auxilary driver then do a transfer of ownership/ insured 12-24 months later? Would this be a wise thing to do? In all likelihood, I'll need her to do the financing since she has collateral whereas I'm broke as a college student.

If you're driving a car now, then how do you have it insured?

[spf1971]

It's not illegal. I have no other recourse. One look at my credit rating they'll turn me away.

Something I didn't ask before is, since my credit rating is so laughable on its own, buying a car isn't possible right now. What are the chances of success if I simply have her as a co-signer? I want to be the primary owner on the car.

Yes it is illegal. By claiming that your sister is the primary driver when in fact YOU are the primary driver, you are committing insurance fraud.

Yes you do have another recourse, it's to NOT OWN A CAR AND DRIVE. Just because you don't like that option, doesn't mean it doesn't exist.

[COSMIC5]

Do everything the right way and you will benefit in the future. Non disclosure or misrepresentation will result in a cancellation and/or denial of any claim. Besides, it will stay on your record for a very very long time...you think prices are crazy now, have one of those on your insurance history report... not nice.