Car Finance?

Curr946

well if he is paying most of it and wants it in his name let him take the loan/finance. Simple

Emmzi

why isn't he applying for the credit? and wont you be married by the time you buy it anyway?

Curr946

Emmzi wrote: »

why isn't he applying for the credit? and wont you be married by the time you buy it anyway?

sorry... is there an echo in here ere ere :-)

Credit_Crunched_2

Most car finance providers will require that an individual taking out the finance is the end user of the car. They will request your full driving licence and counterpart as proofs, along with a bank statement or utility bill. There are some, but not many who will accept just a provisional licence. This is to reduce the increasing cases of fronting that is widespread accross the industry.

Credit_Crunched_2

malkyh wrote: »

The bonus of financing a car (as I found out) is that if it has issues that turns into a fight with the car dealer you bought it from, they can assist as it is actually their car .

Not necessarily true.. The finance company is usually a completely separate company from the dealer. Even where you buy a car from a Ford dealer through Ford Credit Europe, it is FCE who technically own the car..Not the dealer. The dealer will have been paid the full invoice price by the finance house on the day of delivery.

Apples2

You've just described exactly what malkyh said.

Credit_Crunched_2

Apples2 wrote: »

You've just described exactly what malkyh said.

Ha... On reflection, it does look like I may have misread what was written! :rotfl:
Doh.... Nothing to see here :whistle:

MentalMinnie

His credit isn't that great, we're in the process of sorting it, as we'd like to apply for a mortgage in a few years. This is why i'll be applying for the credit. We also don't want to cause further issues on his CRF by making applications for credit. I can get a loan with Barclays for £6000 @ 9% APR. So in a nutshell, i won't be eligible for car finance as i don't hold a full licence?

Apples2

Your choice of course but with an impending wedding, mortgage application AND babies on the way, wouldn't this £7,000 be better spent elsewhere?
Cars are machines and thus, prone to breaking down, all of them, at any cost.

You could still get a decent car for the £1.5k you will have soon and still have plenty for repairs (the repayments you would have been making every month).

MentalMinnie

Apples2 wrote: »

Your choice of course but with an impending wedding, mortgage application AND babies on the way, wouldn't this £7,000 be better spent elsewhere?
Cars are machines and thus, prone to breaking down, all of them, at any cost.

You could still get a decent car for the £1.5k you will have soon and still have plenty for repairs (the repayments you would have been making every month).

Wedding Will be all paid for by May, Mortgage won't be for a long time, and babies, well, I don't plan on having one for 2 years (at least), by which time any loan we take out for a car will be paid off. We plan to take a loan over 2 years, possibly 3, as with Barclays you can over pay with no penalty. Although, having seen my best friend go through pregnancy, I'm starting to wonder if I really want to put myself through that!