Car lent to son

Questioner

I have drawn up a loan agreement stating that my son is currently driving my car and the registration number is in his name, but the car is and remains mine. Can this be registered with the tax authorities and if so, what are the costs? In other words, recording something in a notarial deed. Actually, I want to let the tax authorities know that it concerns my car and I have also paid for it. Since he often does odd jobs and errands for me with the car and the car is parked at his place, I would like to rule out that the car is his. Please send your message, for which many thanks. And if so, what is the rate for this?

Lawyer

You can always record something in an agreement/private deed or in a notarial deed. In this way you can record that you have agreed that there is no question of a gift, for example, but of a loan agreement and that you are the owner. As far as I know, you cannot register a title deed with the tax authorities. However, you can prove with a deed (and for example a proof of purchase) that you are the owner if requested. Normally, a car is exempt as an asset in box 3 for income tax if it concerns personal use (in the family). In this case, this is probably no longer the case. You may then have to declare the car as an asset in box 3. However, I am not a specialist in this area. You could ask the tax authorities/a tax consultant about this, or ask a separate specific new question on Rechtswinkel.