Can I keep the car if.....

haddit

Thinking through various what if scenarios here .... and this is just a thought but:

My V reg people carrier worth about 2,500, can I keep it if I 'sell' it to my parents and they loan it back to me. They have recently paid a £1700 council tax bill for me on a cc can I show this as in lieu of payment for the car?

debt_doctor

Erm ... no !

This would be seen as disposal of assets. The onlt way I could see that working is if the OR decided your car was not exempt and your parents offered to buy it for a reasonabe price, say £ 500 less than what it is worth as it costs the OR around this amount to dispose of a vehicle. Your parents could then allow you to use their vehicle.

I doubt whether the OR would see paying off your council tax bill as payment in lieu.

DD

maxmycardagain

if there is HP on a vehicle and it is sold for its market price and the HP is paid off the OR has no problem.

gpkwells

When I went BR I had a car on HP. The owners of the vehicle collected it about 4 weeks after I went BR.

My OR allowed my parents to buy a car for £5,500 (needed something reliable) and for me to pay them monthly at £160.00 plus £50.00 per month into a fund for repairs, tyres, MOT and tax etc.

This amount was included in my SOA.

Every OR differs though and may have more or less leniancy. <

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I have no idea if that is spelt right??????????

Start_a_new_journey

To be honest I doubt they would be interested in the car.
If you can prove it is essential for day to day life work etc they should let you keep it.
If not they will value it and you can have somebody buy the OR's interest in it and gift it back to you.
Example car vlaued at £1000 friend family pay the or the £1000 you get to keep the car as they have recouped what they wanted for it. Can't be your money though!
Or if you did need a car they would sell yours but would have to give you £2000 for a suitible replacement.
So if it costs them £500 to sort out the car it's not worth there while.

Queen

Hi I am worried about the same thing our car on parkers guide states between £2,500 and £2,900 but on auto trader same car for over £3,500 not sure which figure they will go by, so really unsure what to do

dalip

Queen OR usually uses parkers guide so i am told;)

Queen

Oh good there may be a chance we can keep this, if they say we cann't but need a car to and from work etc what is the approx amount they allow

Itsallgonepearshaped

Hi - this doesn't answer your question but I've been trying to sell my car privately - no luck so far and its being advertised well under the Parkers guide.. Tried some dealers and every one of them is struggling and wouldn't go anywhere near the Parkers guide price. Dealer up the road only has a very small forecourt with maybe 15 cars on it and he's just had to write their value down by £35k - the bottom seems to have fallen out of this market as well so I'm assuming future Parkers guides will have to start reflecting reality and drop values significantly which should help you out a bit ...

uhuru_2

As long as you need it for work (or to look for work) you will be able to keep it, probably without anyone buying it. Most OR's would prefer to exempt a car that is worth that sort of amount because the estate will get so little on realisation it isn't worth realising. Tell them it is not in particularly good condition and if they do end up saying you can't have it exempted and they need a third party to buy it get someone to offer very, very low. They might negotiate you up but probably not much!

shadowdragon

Remember some people have had cars worth a few hundred pounds taken off of them. And reading on here and what my OR said the value of the car varies as to wether you keep it or its sold to buy a cheaper one. mine said 2k some have said 3k some 2.5k some say 1k.

It might also depend how the running costs are reflected on your IandE too. Theres a thread floating around saying that ORs are on Targets to issue IPAs and BRO, if the cost of running a people carrier compared to a little 1.1ltr car for example is the difference between a IPA and not having one, I would hazard a guess what would be happening.

Theres only one sure fire way to find out and thats wait until your Bc and see what decision the OR comes to.