What are the pros and cons of me putting a friend's car in my name? What things couple go wrong where trouble could come back on me?

Does he owe money on it?

No it's paid for and they have a license.

Why do you need it in your name?

I can't think of any pros.

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Originally Posted by J_9

Why do you need it in your name?

I can't think of any pros.

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Or vice versa -- why does the friend need it in someone else's name?

Liability in an accident or comprehensive or collision loss are cons. Who will have insurance and who will pay the insurance. Insurance company may argue it is a leased vehicle and primary liability may be different.

I'll answer when you tell us the reason. There are PLENTY of reasons for not doing it. NONE for doing it.

You want pros and cons, you need more details to this saga to answer the question of what is your friend hiding by putting his car in your name? You realize that you become at least partly financially and legally responsible for whatever happens to this car right?

Forget the debate, it's simply a LOUSY idea.

There is no good reason for doing it.
I can see they are perhaps hiding an assets for some illegal reason.
If under certain ages, they are trying to defraud an insurance company for lower rates.
Perhaps they don't live in that area and want to keep the tags in another state

I can think of a lot of bad and illegal or unethical reasons, No good reasons

The main issues in my view is insurance. You would have to pay the insurance, which would list you as the owner and primary user of the car. Insurance policies do allow you to occasionally lend your car to someone who is not a member of your household, but your friend could not be the principal user of the car. If he gets in an accident and hurts someone you will be sued for damages, and your insurance won't protect you if they learn that your friend is using the car more than just occasionally.

As everyone pointed out so well... there is absolutely no good reason for it to be in your name and every Bad reason why you should never even consider it. He could do something stupid in it that YOU cold be legally held responsible for paying for the rest of your natural life.

My suspicion is that your friend has had too many accidents and can't get insurance under his name or its very expensive. That's the only reason I can think of why he wants to do it.

But, as pointed out, if the carrier finds out he is the primary user of the car, they can void the insurance and that would leave you liable for an damages.