Consign a car without taking responsibility for collision?

I want an answer. Not a lecture.

My boss wants to co sign a car for me because I have no credit history. So it would be impossible to sign the car as myself as the primary owner. And we're willing to do this, but here's the catch.

He wants to co sign the car but ONLY take responsibility of only the car payments being made in time. Of course id be paying for that.

But not responsible for any collision. He wants me to be responsible for that. Is there anyway that we can possibly do that?

It's a 2009 honda civic

I will again be paying for car payments.

I also will be paying for insurance. (Collision)

It depends a lot on the lender for the car. The lender may require him to be on title, in that case it is not possible to escape liability.

This area is tricky and organizing it properly may depend on national/state/provincial law where you are located.

in general, the insurance company is going to require that all owners be on the title and thus liable. [state, etc. Law makes all owners liable]. The trick is that you want your boss to not be an owner, but still be obligated to make the payments if…

one fairly simple way to do this, in most jurisdictions, would be for your boss to be the lender for the vehicle. (S)He puts up the cost and is the lender of record. Then, a fairly standard contract between lender [boss] and you requires you to carry proper liability and collision insurance, naming lender [boss] as 'also insured'.

If boss borrows the money elsewhere, then (s)he's on hook to make the payments.

It gets tricky with interest rates and the possible subsidy of the car to you, which might be taxable income. Thus, the advice of a competent attorney/solicitor is appropriate.

[I guarantee that any regular lender's standard contract will obligate everyone in every circumstance -- their attorneys are well paid to make sure of that.]

Sure, that's possible. The cosigning is for the buying anyway. Unless it's a lease, buying a car is separate from taking care of it.

He and you could put in writing what your deal is. It should include what happens if you leave this job or are fired. Once it's what you both agree on, you both sign it and keep a copy. That's a contract. It can be simple.

It's very nice of him to do this.

Your boss can cosign your loan without his name being put on the vehicles title.

not only will you be for collision insurance, you'll have to carry liability insurance as well.