What all finances are involved in putting a car in someone elses name?

Question

My friend wants to put her car in my name, and we are thinking of just selling it to me for a dollar. What all other expenses are involved in doing so (ie. plates, tags, title changing...)? What would be the cheapest way of doing so? And please, if you aren't going to help, and instead are one of the people who just get on here to preach c**p and say "Don't do this" and "It's wrong" or whatever, please don't respond. Just looking for answers that can help me.

Answer 1

sorry, I know you don't want any negative stuff, but I do have to mention that if the car is in your name, and she is driving it, you can be sued if she is involved in an accident. You also have to figure out the insurance angle. some companies will not let you insure a car that you don't own, and vice versa. why does she want to put her car in your name? Is there a benefit to that for some reason?

Answer 2

you can put down you bought a car for a buck, but the DMV now has a minimum tax they charge, its like a couple hundred bucks. i know in calif its like 25 bucks to change title, the tags will automatically be figured into the cost, they all vary,  and that's about it. my cousin bought a car for 500, it cost her 332.00 to register it. the plates remain the same and there is no cost, unless they are personalized and that's 25 bucks a year. so it should cost you about 200-400 dollars, depending on your individual situation and what state you are in. good luck.

Answer 3

just the cost of the title fee,s and the license plates and changing over the insurance on it that's all the fee,s you will encounter,do it like you said for a dollar that's the cheapest way to do that,good luck.

Answer 4

Just whatever DMV charges to have the title switched over. Shouldn't be more than 100 dollars.

Answer 5

Like it or not, the state will see through your charade and you will be made to pay sales tax on the actual value of the vehicle, along with  transfer and title fees. It is illegal to try and cheat them and not worth the penalty (fines...jail time for fraud).