can I rent or lease my own car to a friend, and can he provide insurance on a car that he does not have the title?
2007-03-15 10:11:40 · 7 answers · asked by jefferyjspencer 2 in Cars & Transportation ➔ Buying & Selling
I've been there. I wont do it again. You are still responsible because the car is in your name. Count on someone suing you if they get hurt either as a passenger or as a victim.
I'd strongly advise against this. Learned from experience.
2007-03-15 10:16:38 · answer #1 · answered by Fordman 7 · 1⤊ 0⤋
You CAN, but I don't recommend it. The reason being, if he wrecks or abuses it, you'll not only have lost a "friend", but chances are your insurance coverage will not cover the damages. His insurance will cover his car, not yours if you rent or lease it to him. If he borrows it, without paying you anything, his insurance will probably cover it, but it's not worth the hassle. I'd suggest he go to a regular rental agency (like Enterprise, Budget, Avis or Hertz) to obtain a rental car. I know you were probably being a good "friend" and could probably use the "extra" money, but again, it's just not worth the aggravation.
2007-03-15 10:19:51 · answer #2 · answered by Kiffin # 1 6 · 1⤊ 0⤋
it really is can flow both way. some employ to personal autos were flooded out and performance major problems with them. The dealerships purchase those autos at auctions or repos. even if, there are some employ to personal businesses which have strong autos w/ functional funds. I dont be conscious of what state you're from, even if there are some used automobile dealerships which will artwork with you in case you've not so strong credit and help you with a down price. i be conscious of someone who has very undesirable credit and placed down a $three hundred deposit for a 2001 Toyota Camry (with 25,000) miles and it had no problems with it. So do in simple terms your analyze. visit web pages and communicate to round. also, seem in community newspapers. strong success!
2016-11-25 22:24:26 · answer #3 · answered by myland 4 · 0⤊ 0⤋
To add to what everyone else has said, your insurance will not cover the car if you are using it as a commercial enterprise. You will need to buy new insurance which will cost you more than your friend is willing to pay.
2007-03-15 10:26:10 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Dont do it. I have done that several times before and it just ended in disaster. Also, I do think you have to have a title to get insurance and I do believe the car has to be in his name.
2007-03-15 10:16:42 · answer #5 · answered by Bad Answer Queen 3 · 1⤊ 0⤋
Jeffery, your asking for trouble. Don't do it. Let him rent a car from a dealer. God help you if he has an accident. Just a word from the wise.
2007-03-15 10:20:12 · answer #6 · answered by Anonymous · 0⤊ 0⤋
well just as long as he doesent get pulled over or anything
2007-03-15 10:15:38 · answer #7 · answered by King Werewolf 4 · 0⤊ 1⤋