Who should keep various paperwork after used car purchase?

Becky P

New member
I am having a disagreement with another person who I just purchased a used car with. We went to buy him a car that he would be driving at least 99% of the time. After running our credit reports, the dealer informed us that the rate would be significantly better if the vehicle was in my name only rather than in his, or cosigned. I agreed to do so, and signed all the paperwork purchasing the car for him, with the stipulation that he would make all payments and keep up on all repairs and maintenance. My name is the only one on the paperwork from the dealership, the title, and the registration. Both names are on the insurance card, with neither designated as primary driver. I feel that I should keep the purchase paperwork and the title, and that he should keep the registration and insurance in the car, and that I could give him copies of my documents if he wants them. He disagrees, he feels that he should have the originals of everything, and that if I want copies of the purchase paperwork, then he can provide them. He is worried about being pulled over and having his name on the insurance only but not the registration, and he thinks that if he has the rest of the paperwork too, he'll be in better shape. Being the car is my liability and shows up on my credit report only, but he is the driver, who should keep the paperwork?
 
Back
Top