Need some advice. >>

*Kat*

I am thinking about buying my sister's car from her for £2,200. We've arranged and agreed that I will pay her £550 for 4 months...

She won't change the name of the book thing until I pay her off. Is that/could that cause any probelms? Also, do you think I should get her to sign something? I know she's my sister, but, I guess sometimes things go wrong

Lum

Most insurance companies will ask you "are you the owner and the registered keeper". Answering no to this question could complicate things and/or increase your premiums.

Stephy_babey

I'd try and get this rectified. Lum is right, if you are not the registered owner of the car it could affect your premium.

Strider590

It needs to be in your name, if you went to a car dealer and took out a 3 finance agreement they wouldn't turn around and say "well your not having the log book until it's all paid", would they?

*Kat*

Nah, I guess they wouldn't! I guess if she refuses then Ill just not get it

wealdroam

The "book thing" only records the name of the keeper, not necessarily that of the owner.

So if you are the keeper, then your name and address should be on the V5C.

mikey72

You will be hard pushed to insure it without your name on the V5, so it's a non starter.
Sign an agreement, if you want to show good faith, offer to revert ownership back to her if you miss a payment, and get it witnessed.

emmell

Does she still have finance on the car? If she has I think she has to get the Finance companies permission to sell the car as it doesn't belong to her.
ML.