This is completely dependant upon the way your company handled the transaction in their books or if it even happened on the books (I'm not sure what kind of business size we're dealing with here). Anyway, this hassle was all because your company can receive more benefit from buying you the car and reporting it on your wages than to buy it and depreciate it themsleves. What's the amount on the title?? What year did this happen, and did the car show up on your w-2 earnings? Hassle for nothing now isn't it?