Speak with your lender about whether they allow the primary driver to be different from the borrower.
Here are the key considerations for successfully buying a vehicle for someone else to drive: 1. Titling and Registration
To insure a car, the policyholder typically needs "insurable interest," meaning they would suffer a financial loss if the car were damaged. If you don't own the car, some insurers may refuse to cover you unless you are added as a "named driver" on the owner’s policy. 4. Tax Implications 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 a car someone else primarily uses is often flagged as an "accommodation deal," which many lenders prohibit. Speak with your lender about whether they allow
Financing a car for someone else is significantly more restricted than buying one outright:
Contact your provider at GoCompare or belairdirect to confirm coverage for other drivers. How to Buy a Car as a Gift - A Quick Guide | Mazda USA If you don't own the car, some insurers
Ownership is legally defined by the car's title. You generally have two choices: