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Yes. If your name is on the registration of the car, you are considered to be in control of who is allowed to drive it, therefore, you are held legally and financially responsible for everyone who drives your car. Many insurance companies do not cover drivers other than the registered owner, should an accident occur. This is why it's wise to be very, very careful of who you allow to drive your car.

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Q: Am i financially responsible if someone drives my car?
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