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T O P I C R E V I E W
caro50
Posted - 12 November 2009 : 18:38:48 Me and my husband are going BR next week. We currently have a finance deal on a car that my husband uses for work.
We are hoping to PX it on the weekend for another car as the deal is ending anyway and this new one will be in father in laws name. We will pay him token payments out of our allowance that we hopefully will get (the £99that we are both left with - hope I got that right ?)
Will this be ok with OR - Its not our asset and no credit will be in our name ?? We are effectively borrowing the car form father in law??
3 L A T E S T R E P L I E S (Newest First)
theguvnor
Posted - 12 November 2009 : 19:56:54 if i was you i would be very careful, as it reads you would effectively be getting rid of an asset which would form part of the BR. you will risk a BRO or criminal proceedings. if this car is worth anything over 2k i would not sell or part ex it.
caro50
Posted - 12 November 2009 : 19:28:02 Thanks for your reply. The car is currently in pur name but we can transfer it into father in laws name before we PX . The new car will be 10,000 but will that matter as none of its in our name and we will not be paying for it - only driving it ? A bit like if it was a company car but father in law will be the provider. Hope tis makes sense
charlie44
Posted - 12 November 2009 : 18:51:33 Whose name is the original car in? Will you make any money from the sale? How much will the new car be?
Hi and welcome to the forums, sorry for the above questions but you will have to be careful doing anything just before BR.
Life`s Tragedy is that we get old too soon and WISE too late!
