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Liability or Not?

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UTKARSH RAI

3 Points Posted on 29 June 2020

If I take a car loan for gifting the car to someone(with registration and other docs. on their name) but keep paying the loan(as it's a gift), does it fall into My Liability section or Not ? If not, is there any way I can benefit from this scenario ?

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Quick Summary

This discussion explores whether taking out a car loan for a gifted car, with registration in the recipient's name but loan payments made by the giver, constitutes the giver's liability. The consensus is that since the loan is in your name, it remains your financial responsibility. The thread also briefly touches on whether there are any advantages to this arrangement.