Automobile Title

I think you can give him the car. He would become the “Registered Owner” of the car but whoever you are making the payments to would still hold the Title and would still be able to repossess the car if you defaulted on the payments. Until you completed paying off the loan, you wouldn’t get Title to the car so your son wouldn’t be able to sell it.

Whomever, you or your son, makes the insurance payments on the car, you still have to have the loan holder as a beneficiary on the insurance. Assuming that your son is over 18, you definitely want to make sure that the car gets Registered in his name so that you are released from liability.

You might want to check with the Department of Motor Vehicles for New York just to make sure of everything.

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