Legal responsibility for buying a car for my daughter
Question Details: I have a 21 year old daughter. She is unable to get financing. I plan to get the auto loan for her, but let her register the car. She will have full coverage insurance. Am I under any legal obligation if she gets in an accident.
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If you are not the registered owner of the vehicle, then no, you have no legal obligation if she has an accident. However, if your name is on the loan and her car is totaled, and the insurance does not cover the gap between the actual cash value (market value) of the car and the amount owed on the loan, then you would be legally responsible to cover the difference.
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