Hubby went guarantaur for the car finance for my daughter nearly 3 years ago. She plans to get another car in a few months time but I've just read on another post about being financially linked to someone.....would hubby's br affect her getting finance and if so, what can she do before hand to help prevent her being refused finance on another car?
Hi if the finance on the first car has been settled then all should be ok. If there is still finance outstanding but payments are up to date there should still be no problems. The original finance debt belongs, or belonged, to your daughter. That debt only becomes your husband's responsibility if your daughter defaults on her payments. If this were not the case then this particular finance agreement should have been included in your husband's BR, which it wasn't. If your daughter wanted to be absolutely sure the best way is to check her own credit report through one of the credit reference agencies prior to applying for finance on the new car.
Thanks John, the payments are upto date and all in order. The agreement is that there are 36 payments then the balance is paid or the car handed back. She is planning on handing the car back and get a different make. I'll get her to check her credit file before she applies. Thanks again
guarantaur on car finance, now br???
Posted - 02 August 2008 : 17:06:17
