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Guarentar

Remlapeel
Remlapeel Posts: 12 Forumite
in Loans
Hello, I would like to get a new car as I crashed mine yesterday thanks to ice. I am able to get car finance, however I need a guarentor. The only person who can help me is my grandad. He is 80 next year. Should this be a probelm?

Thanks :beer:

Comments

  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    if you are unable to pay the car loan, is he able and willing to pay in full instead?
  • Remlapeel
    Remlapeel Posts: 12 Forumite
    not really, but he trusts me to keep up with my payments. so he is willing to be guarentor. but i was worried if they would accept him because of his age. he is a homeowner.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    in that case its would be grossly irresponsible of you to ask him

    buy a cheap runabout until you have saved enough to buy what you want

    -trust doesn't come into it... you may be unable to pay through no fault of yours but he would be legally accountably for the debt
  • Remlapeel
    Remlapeel Posts: 12 Forumite
    If something like that happened we would just sell the car and pay off the loan. I just want to know if he will be considered because of his age.
  • ~Brock~
    ~Brock~ Posts: 1,715 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Remlapeel wrote: »
    If something like that happened we would just sell the car and pay off the loan. I just want to know if he will be considered because of his age.
    I doubt it. I would view accepting an 80 year old as a guarantor as completely irresponsible behaviour by the lender.
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