Things to Consider Before Lending a Vehicle to a Friend
There are many reasons that we may decide to lend a friend a vehicle that we own. It can be that the friend is in tough financial times, they need a car while their car is being fixed or maybe they do not own a car but need one for a short time period. Regardless of the reason behind lending a friend a car, here are a few things you must take into consideration as a car owner:
What is the vehicle being borrowed for?
Discuss all the things that your friend will be doing with the car while driving it. Do they plan to move into a new home? Do they plan to go out of town? Do they plan to provide transportation for others? It's important to be clear on what their needs are to be sure that using your vehicle would fit that need. For instance, you can give them weight restrictions for moving things or miles restrictions on how far you would give them permission to drive your car.
Make sure that person's driver's license is legal and valid.
Don't give your car to someone if you're not sure they have a valid driver's license, ask them to see it and ensure it's not expired or suspended. Check in with your car insurance company to find out their rules concerning someone else driving your vehicle and what they would cover if a car accident occurred while that person was driving.
The frequency that the person drives your vehicle.
It depends on if someone is driving your vehicle occasionally or very often. If they will be driving on a regular basis, it would be smart to get them covered by your insurance as well.
Gas and maintenance
If the person borrowing the car doesn't have knowledge of how to care for the vehicle, you can run into some trouble. Let them know what type of gas the vehicle runs on and if there are any maintenance they should take care of like adding air to the tires.
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