Don't do 3. You want to be involved in a lawsuit if he has a car accident?

On 1 and 2 will your friendship survive if for some reason the vehicle gets totaled. Or what happens when the motor or transmission falls?

I'm having a problem with "responsible" friend. Don't know him and not judging but assuming he's an adult let him buy an interim vehicle before he's ready to buy new. I'm not seeing any upside for you. In a year it's got more miles and wear and tear before you put your daughter on the road in it.

What's the approximate value and what does your daughter want to drive? I'd sell it outright and go car shopping with her when she's ready unless she's absolutely in love with your truck.

Too many things can go sideways with option 1 and 2. It 100% will cost you money and could cost a friendship. Your friend is obviously struggling financially and if something happens to the truck, he's even deeper in a hole to you and then your at square 1 with the daughter needing a vehicle

He's responsible but needs to wait for lower prices and lower rates to buy a car?

My definition of responsible is buy what you can afford. With a 15 mile round trip he has tons of options. There's no guarantee rates and prices are coming down in the next 18 months. Government spending isn't slowing down, Tarriffs may be in play, etc.

Surprised how jaded everyone here is. I guess years of being let down by the football team will do that.

I would have no problem with option 3 in this scenario. Sounds like it was your idea to begin with so not like he is trying it screw you over.

If you're going to switch the title to his name then you're paying sales tax on it each time you switch even if you gift it unless you're willing to sign an affidavit that you are related to him. That's just pissing money away.

Grown man should buy his own truck.

I wouldn't do anything paperwork wise. If anything happens and he is that trustworthy, then he had to "borrow your truck to make a Home Depot run". Maybe he Venmo's you $100/month for insurance

I'm so responsible that I would never in a million years propose a deal like this to a friend

jja79 said:

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I need to borrow your car.

A responsible friend wouldn't put you in this situation. This sounds like a bad credit situation to me. I'm not jaded by football but decades in banking throw up huge red flags here.

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Help yourself. You need the jeep truck or excursion? I guess you can borrow the minivan too but it sucks the life out of you.

All my stuff is on loan from the God in heaven and I don't get to take it with me to give it back to him when I go. It's just stuff. Don't mind helping out a buddy when they need it.

#3 would be an absolutely terrible idea. #1 would lead to you paying sales tax twice

#2 seems like the best option. However, regardless of how responsible he is, 100% of you has to be prepared to never get this car back. There are a hundred ways this could go sideways even with the most responsible of friends. It's like loaning money to family, only do it if you are prepared to never get it back

I'm in the camp of "don't do this at all".

He buys his own truck or you sell him yours but either way you do not want to be tied to it. A year is a fairly long time. You can be legally liable for any number of things. It's simply not worth the risk financially. I don't even loan my vehicles to my own siblings. I don't care how responsible they are. I'm not willing to risk everything I've worked for to a single bad situation.

Seriously, this is a bad idea. There is no friend worth risking your personal well being and financial well being. None.

You are getting good advice from people who have a lot of experience in various aspects of life, business, and industry. This advice isn't given to upset you, it's given to save your tail from something many of us see as a serious issue. You and your entire family are at risk and there is nary a single person on this planet I'll put above my own family's well being.

The friend needs to get his act together and buy his own stuff.

jakeaggie84 said:

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I mentioned it to him

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This suggests to me that you offered it, the friend didn't ask, is so maybe it lays to rest all the suggestions that the friend is a deadbeat. I'm in coolerguys camp, if i were in your situation i would just hand him the keys and tell him to use it as long as he needs it. If i were the friend and you offered it up I may or may not accept, but the second you started trying to paper it up I'd politely decline and just buy a cash beater to drive to work

I think your first question, is whether your daughter wants your truck.

If it is special to her, something she really wants, a family heirloom....then park it and let her have it in 18 months.

If it is none of the above, and you're just going to let her have because you already have it and it's paid for...sell it to your buddy for a bargain price. Tell him you'd appreciate the opportunity to try to buy it back in 18 months. Mentally tell yourself it's gone and you're never going to get it back.

You can either hold the money, hoping to buy it back, or hold it and buy daughter what she really wants in 18 months.

Not seeing any upside in this for you other than its out of the driveway for 18 months and then back….

CanyonAg77 said:

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I think your first question, is whether your daughter wants your truck.

If it is special to her, something she really wants, a family heirloom....then park it and let her have it in 18 months.

If it is none of the above, and you're just going to let her have because you already have it and it's paid for...sell it to your buddy for a bargain price. Tell him you'd appreciate the opportunity to try to buy it back in 18 months. Mentally tell yourself it's gone and you're never going to get it back.

You can either hold the money, hoping to buy it back, or hold it and buy daughter what she really wants in 18 months.

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This old(er than me) dude hit the nail square on the head!

I have 4 friends that I would let drive my truck for 18 months. No money, no paperwork.

They are my only true friends. I guess that I am richly blessed to have a handful of people around me that I truly trust.

Tumble Weed said:

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I have 4 friends that I would let drive my truck for 18 months. No money, no paperwork.

They are my only true friends. I guess that I am richly blessed to have a handful of people around me that I truly trust.

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I have a laundry list of people who I would also trust and give access to my stuff, in an emergency.

This is not that.

Tumble Weed said:

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I have 4 friends that I would let drive my truck for 18 months. No money, no paperwork.

They are my only true friends. I guess that I am richly blessed to have a handful of people around me that I truly trust.

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I have zero friends who I would loan any of my cars to for more than an afternoon.

I let my sister drive my 99 Expy for a few years while I was overseas.

She put a few dents in it, broke the sideview mirrors (which she did replace).
Mostly, she just complained about the poor gas mileage that she got on a free car.

No good deed goes unpunished.

The only other people I have let drive my car for that length of time are my daughters.
And both of them can't stand the fact that my truck is more reliable than whatever they're driving. Especially because it's soooooo old.

Don't loan things or money to friends or family. Either sell it to him or gift it to him with no expectation of getting it back.