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I don't know how it is now, but before 911 I took vehicles into Mexico not registered to me.
I just had to have a notarized authorization from the owner and any lien holder that it was OK to take the vehicle into Mexico.
One time it was a car provided me by a company I worked for.
A different time it was a friend's car.
I both cases niether geristered owner was with me as I entered and then left Mexico a week later.
Armed with the documents we always need, plus the notarized authorization from the owner and lien holder (if any) we had no trouble at all...and the Mexican and US officials seemed to look at them carefully.
I'm not sure if 911 has caused any changes.
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