Who is liable if I loan my car to a friend?

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1. Are you liable for a car after you sell it? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE In most states, used car sales are understood to be “as is.” This means the buyer understands that if something goes wrong after the car is driven away, it’s entirely his or her responsibility. That means that, as...
2. Who is liable in a car accident owner or driver? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE The car owner (the one in whose name the vehicle is registered) is not liable as long as he has not instigated the driver to drive fast and rashly. Jul 3, 2012 CALL US NOW (Mon-Fri, 8am –...
3. Is the registered owner of a car liable for an accident in Texas? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE What is the Family Purpose Doctrine? The Family Purpose Doctrine holds the car owner liable for an accident caused by a family member regardless of permission. In Texas, the Family Purpose Doctrine states that the owner of a...
4. Should both spouses be on car loan? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE Getting a joint car loan can be very beneficial depending on individual incomes and credit scores. If both the borrower and co-borrower have good credit and a healthy, reliable income, then together they could qualify for a larger...
5. Can I use my husband’s income when applying for a car loan? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE No. You won’t be able to use his income as your own for approval on a car loan. In this case, go into the dealership and explain the situation. Most car dealers will work with you to get...
6. Is it bad to do a 72 month car loan? CALL US NOW (Mon-Fri, 8am – 5pm PST) for a FREE QUOTE Generally, yes, a 72 month car loan is bad. When you get a 72 month car loan, you’re more likely to go upside down on your car loan, which leaves you in a vulnerable financial position. Avoid getting...