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Messy Car finance

Last post Thu, Jun 04 2009, 10:27 AM by matt w. 2 replies.
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  •  Thu, Jun 04 2009, 10:27 AM

    Re: Messy Car finance

    The log book is not proof of ownership, it is purely the registered keeper. Even the police get this wrong sometimes, but it does state at the top of the log book, "the registered keeper, is not necessarily the owner."

    Proof of ownership comes down to who paid for it. If you have a credit agreement in your name, then that is proof you own the car.

    As the car is not his, technically he cannot insure it in his own name because he does not have an insurable interest.



    • Post Points: 5
  •  Wed, Jun 03 2009, 8:53 PM

    Re: Messy Car finance

    The finance company will want to be informed about (and to agree to) any change in ownership so, in your shoes, I would talk to them before doing anything.

    It is possible that, with the car in his name, he could leave you without the car and with the finance to settle.

    • Post Points: 5
  •  Wed, Jun 03 2009, 8:40 PM

    Messy Car finance

    Hi all just after a little advise

    own two cars, both on finance in my name, however split with my partner and he has full use of one of the cars, pays the monthly payment etc but cannot take the finance over due to a bad credit rating.

    However he wants me to change the logbook into his name, and also wants to insure it in purely his name. at the moment things are quite amicable but am I right to be worried and want to keep it in my name just in case he changes his mind about the payments in the future? still owe about 7grand and have about 3 years left of the argreement! would the finance company allow it to be insured and registered to someone else even though my name is on the finance?

    Any help would be much appreciated!!!

    • Post Points: 35