PCP on new car - who is good?

flossiejo

Hi,
Am looking to replace my increasingly dangerous car with a new one and getting it on PCP.
Apart from the dealership - who can I get finance off?

The car and finance will be in my partners name, who only has a provisional licence. The dealership will only put the finance in his name if I'm a Guarantor - funnily enough, we both think that's a bit poo.

Advice pls.

flossiejo

I've looked at unsecured loans, and they all quote a monthly rate that's double what the car dealership quoted.
I can't get this specific car second hand (just checked) so it's got to be new.

Can anyone help me to avoid the sharks?

no_more_cards_for_me

Buy a cheaper car

flossiejo

That's difficult.
The car we're looking at has £35pa car tax, approx 60mpg and comes with the Isofix fitting (I'm pregnant and due in Mid Sept). So it's cheap to run and secure for the new baby.

My existing car is a 2004 plate (so not that old), but the electrics have developed a lovely fault that randomly accelerates the car for me - and I'm getting really scared it's going to randomly accelerate me into a tree or another car. I've already spent a couple of hundred getting it investigated as much as possible without stripping down the entire car (I have a very nice garage that are trying really hard not to charge me if they can avoid it).
Needless to say - I'm really put off getting an older car if I'm going to be forking out more for repair bills.

I don't care about actually owning the thing - it actually suits me if we don't. But I want something safe, reliable and cheap to run.

no_more_cards_for_me

You could try

http://www.lingscars.com/

Website is a bit looney but cheap rates

As an aside isofix is superb and makes life much easier and safer. Most cars now have it fitted as standard.

Tixy

Why do you want the car & finance to be in your OHs name? Why won't the dealer allow it? (does your partner have a poor credit ratings/lots of debt?).

How much do you need to borrow? have you considered (and discounted) trying to get a personal loan instead?

flossiejo

The dealership don't like it purely because my other half only has a provisional licence. That's the only reason.

I want the car and finance to be in his name because the split from my ex has been and will continue to be very messy - I'm still tied to the old house and mortgage and there's a risk that the ex will bankrupt the both of us (i.e himself and drag me down) out of spite.

Hence why I don't want any assets in my name. It's not that we can't afford it, it's that it'll be safer not being in my name.

Having looked at a personal loan, the monthly payments are double what the dealership PCP quoted us.

Tixy

What a pain. No chance he is likely to pass his test before your little one arrives?

Have you tried another dealership to see if they all impose the same conditions?

flossiejo

As far as I know, he's not taking lessons - and I'm not going to pressure him cos that's unfair.
I'm 21 weeks, so not that long before the little one's here.
And my car is getting worse - otherwise we wouldn't even be looking.

In answer to a question i forgot - the car we're looking at is list price £13k

I haven't tried another dealership - this was the main Toyota dealership, so I'm not sure where else to look.

nelly12

I am fairly certain that mst of mainstream motor finance houses no longer accept a provisional licence. As for putting into someone else's name then that classes as an accommodation deal and hence is fraud as the goods are not for the use of the person financing the goods.

flossiejo

nelly12 wrote: »

I am fairly certain that mst of mainstream motor finance houses no longer accept a provisional licence. As for putting into someone else's name then that classes as an accommodation deal and hence is fraud as the goods are not for the use of the person financing the goods.

Ok - this is something I hadn't considered. I'm only thinking of protecting my new family, not in committing fraud!

What would be the definition of 'use'? Cos at the moment I ferry the other half wherever he needs to go, as well as using the car to get to and from work.
What about parents that buy cars for their kids - is this also technically fraud?

Really confused now!!