You don't need a license to buy or own a car. You need a license to register, operate and insure it for use on roadways (...though you can probably insure it for its value as you could any other valuable if you just own it and never drive it). So, yes, you can buy a car and title it in your name (retaining ownership) and allow someone else to 'use' it, as in they register and insure it under their name.
Is this legal?
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You don't need a license to buy or own a car. You need a license to register, operate and insure it for use on roadways (...though you can probably insure it for its value as you could any other valuable if you just own it and never drive it). So, yes, you can buy a car and title it in your name (retaining ownership) and allow someone else to 'use' it, as in they register and insure it under their name.