I`m going to have a car on financing for my daughter, she`s going to use the car. Are you okay? I will pay the monthly payments and she will be the main driver? Thanks Hello, I have a 2004 VW Golf on finances and I still owe around £4995 on it, but I think it`s going to be worth pretty much the same. However, the financial company did not allow you to be the owner of the car, so your MIL does not respect its agreement. Take out the contract and read it in depth because it should cover it there. I would be delighted with your advice. Last year, on behalf of my friend, I completed a financing contract on my behalf. At that time, he was in an IVA and would not have been approved, although he earned 40k and could easily afford the monthly payments of £160 (the car was only about 3k). Anyway, the dealer knew that I was taking the financing on my behalf and was actually asking us who we were going to register the car with. We chose my bf because I have my own car, etc., and I had no interest in using this car. We didn`t live together at the time.
We were not notified that this was a problem. We have now decided to sort our finances better since we bought a house (the house or mortgage is not currently in my name, just his while I pay my debts) and we decided to sell the car I financed. I called the financial company to get a comparison number, and when I was asked if I was the registered holder, I said no (I didn`t know it was wrong). The lady has now stated that I am against the contract, and while she is understanding, the shopkeeper has not warned me that she must pass this information on to her management and they will contact them. It also seems dubious now, because we both live at a new address (we literally moved a few weeks ago). I have been frank and honest about everything, I have not run out of payments and I have no intention, and I have even paid mass amounts to reduce funding, but I understand the position of financial companies on this. She said I could transfer the logbook on my behalf and insure myself on the car when they contacted me, but this is not an ideal option, since I was hit last week on the way back from my own car and currently have a right (although the third party has taken responsibility, I have the impression that my premiums will increase in the meantime, until the claim is closed). What I want to know is 1.
If my friend`s insurance is valid for this car and he should drive it (but he had no problem taxing it) and 2. Despite the debts I have, I have an excellent credit rating. I`m 30 years old and I`ve never missed a payment for anything. Is there anything being spent on my name? My mother just had some money, and I think I`ll ask her for the outstanding credit and just pay the comparison number to the financial company, sell the car and pay my mother back. Would they accept it? Thank you Heather Hey Stu. Please help, what is the correct procedure I need to follow before I can ask someone to use their name to buy me a car? Because for now, I`m confused because I`m the one who has a deposit for this car, and I`ll be the one who will be responsible for the payment, so what will happen if he/she passes? Yes, but you can`t. .