chrisloup Neutral Newbie December 12, 2018 Share December 12, 2018 Hi everyone. as a newbie i can't start a new post. just need some help with this. a) my sister wants to use my name to purchase a car. (ie: my noa8 and nric is being used) b) says I will not pay a thing c) insurance , road tax all she pay. d) both she and her bf will use the car (so they will be named drivers) e) i don't drive and have no drivers license. f) they may occasionally drive as private hire drivers. is there anything i should be concerned about? eg: will I be ever liable for anything as the "owner" of the vehicle? are there any concerns they should be notified about? (cover for third party liability etc?) ↡ Advertisement Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged December 12, 2018 Share December 12, 2018 Hi everyone. as a newbie i can't start a new post. just need some help with this. a) my sister wants to use my name to purchase a car. (ie: my noa8 and nric is being used) b) says I will not pay a thing c) insurance , road tax all she pay. d) both she and her bf will use the car (so they will be named drivers) e) i don't drive and have no drivers license. f) they may occasionally drive as private hire drivers. is there anything i should be concerned about? eg: will I be ever liable for anything as the "owner" of the vehicle? are there any concerns they should be notified about? (cover for third party liability etc?) yes..... everything will fall back to you i.e loan don't pay, bank come find you road tax don't pay, LTA come find you car use for illegal use like drugs transporting, Police come find you insurance, eg drunk driving and accident, not sure is sue you, sue driver or sue you and driver... funny right, why must use your name and not her's or her bf name? is it credit got bad record or both earn not enough or what 15 Link to post Share on other sites More sharing options...
inlinesix Supersonic December 12, 2018 Share December 12, 2018 You don’t trust your sista? 1 Link to post Share on other sites More sharing options...
Kengheng450 2nd Gear December 12, 2018 Share December 12, 2018 never trust anyone not even your own family members,cos when something happened all will push their blame to you cos you are the owner. 4 Link to post Share on other sites More sharing options...
inlinesix Supersonic December 12, 2018 Share December 12, 2018 Is that our current sad state? 1 Link to post Share on other sites More sharing options...
Jammy_buttons 3rd Gear December 12, 2018 Share December 12, 2018 Hi everyone. as a newbie i can't start a new post. just need some help with this. a) my sister wants to use my name to purchase a car. (ie: my noa8 and nric is being used) b) says I will not pay a thing c) insurance , road tax all she pay. d) both she and her bf will use the car (so they will be named drivers) e) i don't drive and have no drivers license. f) they may occasionally drive as private hire drivers. is there anything i should be concerned about? eg: will I be ever liable for anything as the "owner" of the vehicle? are there any concerns they should be notified about? (cover for third party liability etc?) Bank loans and road tax under you lor. If they default then you good game. Also loads your total debt ratio 3 Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged December 12, 2018 Share December 12, 2018 You don’t trust your sista? maybe the bf Link to post Share on other sites More sharing options...
BobbyTan_74287 4th Gear December 12, 2018 Share December 12, 2018 Hi everyone. as a newbie i can't start a new post. just need some help with this. a) my sister wants to use my name to purchase a car. (ie: my noa8 and nric is being used) b) says I will not pay a thing c) insurance , road tax all she pay. d) both she and her bf will use the car (so they will be named drivers) e) i don't drive and have no drivers license. f) they may occasionally drive as private hire drivers. is there anything i should be concerned about? eg: will I be ever liable for anything as the "owner" of the vehicle? are there any concerns they should be notified about? (cover for third party liability etc?) HI, the amount is too big to be trusted, especially your sister and her bf is using the car. If your sister is a working adult, she should use her own name. If she cannot afford, I doubt she will be able to service the monthly loan. Unless she has got bad credit rating that unable to take loan, then this made it more dubious. If the car caught into any accident which is your sister's fault, as car under your name, the other party will go after you. The impact will be high. You can only lend you name to your sister if you prepare to shoulder all outstanding loan and fines etc, in the event if she defaulted. If loan not pay and the bank repossessed the car, you will have to pay the difference between the outstanding loan amount and the market value of the car. Whenever we lend something to our sibling, we should be prepared not to take back. 12 Link to post Share on other sites More sharing options...
Hamburger Hypersonic December 12, 2018 Share December 12, 2018 fastest and surest way to sour a relationship. 9 Link to post Share on other sites More sharing options...
Airwaver 4th Gear December 12, 2018 Share December 12, 2018 Hi everyone. as a newbie i can't start a new post. just need some help with this. a) my sister wants to use my name to purchase a car. (ie: my noa8 and nric is being used) b) says I will not pay a thing c) insurance , road tax all she pay. d) both she and her bf will use the car (so they will be named drivers) e) i don't drive and have no drivers license. f) they may occasionally drive as private hire drivers. is there anything i should be concerned about? eg: will I be ever liable for anything as the "owner" of the vehicle? are there any concerns they should be notified about? (cover for third party liability etc?) You got no driver's license? How to buy car insurance? 7 Link to post Share on other sites More sharing options...
Jammy_buttons 3rd Gear December 12, 2018 Share December 12, 2018 You got no driver's license? How to buy car insurance? I believe still possible. Just like rich people no license buy car then hire driver lor Link to post Share on other sites More sharing options...
Airwaver 4th Gear December 12, 2018 Share December 12, 2018 I believe still possible. Just like rich people no license buy car then hire driver lor Yes, my bad. Learnt something new today. Link to post Share on other sites More sharing options...
Mzrmazda3 6th Gear December 13, 2018 Share December 13, 2018 (edited) Hi everyone. as a newbie i can't start a new post. just need some help with this. a) my sister wants to use my name to purchase a car. (ie: my noa8 and nric is being used) b) says I will not pay a thing c) insurance , road tax all she pay. d) both she and her bf will use the car (so they will be named drivers) e) i don't drive and have no drivers license. f) they may occasionally drive as private hire drivers. is there anything i should be concerned about? eg: will I be ever liable for anything as the "owner" of the vehicle? are there any concerns they should be notified about? (cover for third party liability etc?) After the advices from Bros here, I think you can tell your sis 'Mai Lah Mai Lah, later Dai Chi Liao Liao' ... Edited December 13, 2018 by Mzrmazda3 6 Link to post Share on other sites More sharing options...
Dilemma 5th Gear December 13, 2018 Share December 13, 2018 If it is really just bad credit rating. You can just be the guarantor for the hire purchase if u trust ur sister but the car will still be under her or her bf. 1 Link to post Share on other sites More sharing options...
Mahjong74 Supercharged December 13, 2018 Share December 13, 2018 Hi everyone. as a newbie i can't start a new post. just need some help with this. a) my sister wants to use my name to purchase a car. (ie: my noa8 and nric is being used) b) says I will not pay a thing c) insurance , road tax all she pay. d) both she and her bf will use the car (so they will be named drivers) e) i don't drive and have no drivers license. f) they may occasionally drive as private hire drivers. is there anything i should be concerned about? eg: will I be ever liable for anything as the "owner" of the vehicle? are there any concerns they should be notified about? (cover for third party liability etc?) hmm........not a good idea for car purchase but It would be better if your sister use your name to buy a property / condo 9 Link to post Share on other sites More sharing options...
uniquely_ad 5th Gear December 13, 2018 Share December 13, 2018 I was in this situation, but mine was because I wanna cut cost on the insurance premium of which I told beforehand. I used my elder Brother name which has a long years of driving license but no car and whom is older which drastically reduced my insurance by close to 50%. However in your case there is of no point to put your name at all. Ask your sis what’s the actual reason she wants to do this? I have a feeling there’s an underlying factor she isn’t telling. hmm........not a good idea for car purchase but It would be better if your sister use your name to buy a property / condoYes please! This also can sign me up! 4 Link to post Share on other sites More sharing options...
Bacteria83 Turbocharged December 13, 2018 Share December 13, 2018 If ur sis and her bf is sharing the loan installment and they are considering to be PHV to offset the installment, odds is against you. First of all they are not financially able to afford it. If their break off means GG for you too. They may not have carfully consider all expenses that maybe incurred for car ownership in SG. Parking, erp and petrol cost. If still need to go in jb to save on it more dangerous. If met with accident overthere or wear and tear will they be capable to resolve it. As a neutral is a no go for me. But u understand the, better, u know their character better too. So all these you should input in too considertion. Actually for them dont buy car, the money save up can go over quite a gd vacation every yr. buy a rolex which yr also can 4 Link to post Share on other sites More sharing options...
Inlinefour Twincharged December 13, 2018 Share December 13, 2018 hmm........not a good idea for car purchase but It would be better if your sister use your name to buy a property / condo But hor...whether put name on car or condo or GCB liao iras tax officer very fast looking for you leh ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now