All purchasers listed on bill of sale must all be listed as owners on the registration.
There are no exceptions for dealers. The names of the purchasers as they appear on the bill of sale need to appear on the registration.
Dealers often finance purchases
When a dealer finances a purchase through their financing company, the finance company will sometimes request a co-signer.
The co-signer might want to appear on the registration or not, that is to be determined by the dealer and the customer.
In helping the customer decide whose name should appear on the registration:
- If vehicle is being financed by someone other than the purchaser, the dealer should explain the impact to the person who is financing the purchase if they are not listed on the registration.
- If the vehicle is being financed by the purchaser and a co-signer, the dealer should explain the impact to the person who is co-signing for the financing if they are not listed on the registration.
Regardless of what is decided, the dealer must understand that the bill of sale needs to be made in the name of the person(s) who will appear on the registration.
If the dealer’s financing company insists that both names (the purchaser and co-signer) appear on the registration, then the bill of sale must be made to both and both names will appear on the registration.
If the dealer, finance company and purchaser agree that the financing needs to be done with the purchaser and co-signer but that the registration can appear in only the purchaser’s name, then the bill of sale must be made out to the purchaser only and only their name will appear on the registration.
In all cases, all copies of the bill of sale must show the same information. The dealer cannot have multiple copies of the bill of sale with some showing just the purchaser and some showing the purchaser and co-signer.