Financing a car for someone else is significantly more restricted than buying one outright:
To insure a car, the policyholder typically needs "insurable interest," meaning they would suffer a financial loss if the car were damaged. If you don't own the car, some insurers may refuse to cover you unless you are added as a "named driver" on the owner’s policy. 4. Tax Implications
Gifting a car can trigger tax obligations depending on your location:
Taking out a loan in your name for a car someone else primarily uses is often flagged as an "accommodation deal," which many lenders prohibit.
Contact your provider at GoCompare or belairdirect to confirm coverage for other drivers. How to Buy a Car as a Gift - A Quick Guide | Mazda USA