Buying A Car For Someone Else To Drive «2026»

Taking out a loan in your name for a car someone else primarily uses is often flagged as an "accommodation deal," which many lenders prohibit.

In some regions, if the car’s value exceeds a certain threshold, you may need to file a gift tax return. buying a car for someone else to drive

Most lenders require the person taking out the loan to be the registered owner and the primary driver. Taking out a loan in your name for