![Happy senior couple buying a new car in a showroom.](https://www.bankrate.com/2023/09/28152118/gifting-a-car-to-a-family-member-6-steps.png?auto=webp&fit=crop&width=230&height=150)
Gifting a car to a family member: 6 steps
Before gifting someone a vehicle this holiday season, consider the steps required.
The better you understand how loans work and how lenders think, the better equipped you are to save on your loan.
— Pippin Wilbers
About the author
Pippin Wilbers is a Bankrate editor. He joined the personal loans team in 2024, though he's also contributed work on the auto loans, credit cards, student loans and small business loan verticals. Pippin is passionate about demystifying complex topics, such as car financing or finding the best personal loan, and helping borrowers stay up-to-date in a changing and challenging borrower environment.
Pippin stays on top of industry news sources, such as TransUnion and Experian. Working with reporters Hanneh Bareham and Denny Ceizyk, he analyzes industry data and trends and asks: "What does this mean for borrowers?"
Pippin lives in Denver. Before joining Bankrate, he brought vital news to his community as a small-town newspaper reporter. In his spare time, he enjoys foraging for mushrooms, reading, and dabbling in amateur entomology.
The better you understand how loans work and how lenders think, the better equipped you are to save on your loan.
— Pippin Wilbers
Before gifting someone a vehicle this holiday season, consider the steps required.
If the car you co-signed for gets repossessed, your credit will take a hit.
To use your car as collateral for a loan, you must have equity in it.
You can surrender your car in bankruptcy, but forcing the lender to take it back may be difficult.
Take these four steps before you head out on the open road.
New vehicle prices have been record-high. Is the fall season finally a good time to buy?
When setting out to find the right vehicle, pay attention to all-in cost and how the car can improve your commute.
Get around after graduation without putting yourself on a shoestring budget.