Suggestions for gifting a car

[PM5K]

You can avoid ownership liability issues and still maintain some control over the vehicle by listing yourself as lienholder...require his insurance to notify you of cancellation or non-payment. If he wrecks the car the insurance company pays you instead of him. If he tries to sell the car he has to get a release of lien from you first. The dealership you buy the car from can do all the paperwork for you.

Ding Ding, you win!

I was wondering when someone was going to say that...

[PM5K]

So wait a minute, you are buying a car for a friend AND a relative?

Geesh.....

[ploto]

Definitely lead them to believe they'll need to secure financing for you and 0 down at that... Then drop cash on them once you get to the application part.

Exactly how I bought my last car. I love to act stupid and then stick it to them.

[MannyIsGod]

The only reason I would go through this leinholder business would be if I wanted to make repossessing the car an option. Seems like an unnecessary pain in the ass otherwise.

Congrats on graduating college.

[timvp]

Congrats on graduating college.

[ChumpDumper]

Best six years of my life.

[J.T.]

You should have 2Blonde hook you up with one of those LOJACK's she put on her daughter's car, that way if your boy tries to bolt out of town with the car you can track him and call the fuzz.

[SAGambler]

You sign him on as the "owner" and yourself as the "lienholder". That way you are off the hook legally, yet you are the one holding the le until the car is paid in full. The state will send you the original le and send him a duplicate copy. Once the car is paid off, you simply sign the original le off and hand it to him.

[2Blonde]

You should have 2Blonde hook you up with one of those LOJACK's she put on her daughter's car, that way if your boy tries to bolt out of town with the car you can track him and call the fuzz.

Yeah!!!!

[mookie2001]

dam timvp i didnt know yall were so populario

i know yall turned down six figures for spurstalk, but i didnt know yall were buying common marriotts tahoes