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I agree that under the circumstances, you are required to file form 3520.  There are no tax consequences, this is a transaction report that the IRS uses to look for money laundering and other things, it almost never rises to the level of further inquires, it's just a report.

 

Form 3520 is filed separately from your tax return (not with your return) although the filing deadlines are the same.  Turbotax does not include this form. 

https://www.irs.gov/businesses/gifts-from-foreign-person

 

You also technically gave your friend a car worth $26,000.  That must also be reported on a gift tax return form 709, although no tax will actually be owed, but the gift musts be reported.

https://www.irs.gov/forms-pubs/about-form-709

 

 

 

There might be an argument that instead of this being two gifts, you were acting as a purchase agent for your friend, but that might have other, unexpected tax implications that I don't know anything about.