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Can a Pvt car be given to Lease
09-Jul-2023 (In Civil Law)
Hi Sir/Madam,
I have a car, which is financed and the tenure of finance will end in 2021. Can I lease my car to my cousin, is it legally allowed.
Or is there any way through which the ownership or the responsibility of Challans, Fines etc can be fixed for other person.
Though the car is in my name but I don't drive it and the full payment can't be made for loan, as of now.
Please advice some solution to this.
Thanks,
Query perused. Yes you can lease out your car to your cousin on lease. You have to enter into a lease agreement with your cousin. Further it will be a taxable income under the head income from other sources. For further consultancy and legal services you may contact us.
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Adv. Anubhav Kathuria
Delhi | 500+ Answers
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There no other way to get escape from legal consequenci es untill you made the payment of the car loan because as owner u are always vicariously liable for any legal consequenci.u can contact me through app
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10+
Adv. Deepti Dogra
Delhi | 100+ Answers
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