What do you think of this arrangement?

amother

Wed, May 24 2023, 6:05 pm

A friend of ours has a car. They dont want to sell it but they want to get another car.
They know we need a car but cant afford one.
They said that we could use the car register it in my name and insure it but they would keep the title.
Any repairs would be on me.
The catch is if they would need the car for a couple of days while their car is in for repairs(their job is driving) they would take it.

Does anyone see a downside to this arrangement?

notshanarishona

Wed, May 24 2023, 6:08 pm

Yes, it's too vague of an agreement. What happens if it needs a $3000 repair? Are you really going to pay that for a car you are using short term ?
Much better to do an official rental than a heimish agreement where you can end up with a lot of bad feelings.

TwinsMommy

Wed, May 24 2023, 8:20 pm

I borrowed a good friend's car for many months. Their son was 15 and not yet ready to drive but it would be his car when he was older. So I got use of a car and in exchange I took care of keeping it used and not just sitting around and I did oil changes and such. It didn't need repairs during that time but had it, we likely would have split the cost. They kept it in their name.

If you're going to register it to you and have you take care of repairs, they should title it to you too whether they give it to you or sell it to you. And then since they're giving it to you or selling it to you (hopefully at a price you like)---- you can offer for them to borrow it from time to time. That's my opinion.

amother

Offwhite

Wed, May 24 2023, 9:14 pm

Pretty sure you need the title to register the car and insurance has to match the registration. They could prob add you to the registration though.

amother

Silver

Wed, May 24 2023, 9:17 pm

I personally wouldn't do it. Sometimes repairs are a lot of money and why should it will be on you? If it's not your car. At the end of the day you're going to have to give it back and you'll be left with nothing. Also, I don't love the fact that they said that they will take it back when their car is in the shop. That could be hardly inconvenient for you.

amother

Lightcyan

Wed, May 24 2023, 9:20 pm

How good is the cars shape? Maybe take it to a mechanic for an idea.
Buying a car is way more expensive as far as I know

amother

Tiffanyblue

Wed, May 24 2023, 10:26 pm

Sounds like a terrible idea. One major thing can go and I feel like better off. Just buying a car in your name and knowing it’s yours. What if they need the exact time that you also need it? My guess is that would happen quite often. I actually try to share a car with my daughter since we now have two which we haven’t had for 15 years. But I was already used to having the car around and realize that she could have it for a few hours here and there but I cannot give it to her for a week at a time. And we’re family that has only had one car for literally 15 years but once you get used to some thing and thinks it’s yours then that’s it. I have a feeling they want it a lot more and you’ll be spending all the money taking care of it while they’re enjoying it whenever they feel like it and that’s what you agreed. To

amother

Wed, May 24 2023, 10:28 pm

amother Offwhite wrote:

Pretty sure you need the title to register the car and insurance has to match the registration. They could prob add you to the registration though.

We asked the DMV and they said it was fine.

I would need to discuss with my friend about repairs if needed.
The car is a good working car. He needs it for work and if it's not working he will loose money.
I thought it's a good arrangement because he doesn't want to pay insurance and I can't afford to buy a car now. Also he is in the car business and I will always have them to make sure that the car is in good running order because my husband doesn't like getting involved with my car.

camp123

Wed, May 24 2023, 11:15 pm

I think it sounds reasonable. If you know the people and trust them it's seems fine. You are not paying for the car and so you are paying for repairs. Sounds like a fair agreement to me.