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Reply to "Car Title in my name but driven by parents?"
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[quote=Anonymous][quote=Anonymous]My parents want a 'run-around' car and I'm moving to a new place where I can walk to work in under 20 minutes (or bus it in far less). I was planning to sell the car to CarMax for 15K cash. I got that offer from parents who also say I can drive it 'whenever' and they'll keep the title in my name. Are there any cons in this scenario?? I know they'll probably put 20,000 miles on it but I don't need the car anymore...[/quote] Insurance. It will have to be changed to where it is garaged. Do you live in the same metropolitan area? If you live in MD or DC and they are in VA I guess they are trying to NOT pay car tax. That is fraud. Garaged in VA with MD or DC plates. They will be primary drivers and you and occasional driver - all listed on policy. Title in your name means you are responsible for insurance, inspection, etc. The title is our decision not their decision. [/quote]
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