Car finance predicament

Ingi73

What your actually doing is getting an accommodation loan as the car is really for you but you are not credit worthy. The finance companies know this goes on so they ask for at least a drivers license for a car loan. In the T + C 's it will state that the person who has the loan must be the registered user, keeper and main insurer of the vehicle. If this is not the case then you are not being honest with the finance company and may end up having the vehicle reposessed.

Please do not blame a finance company for trying to protect it self as in the end we all pay more because of bad debt.

Ingi73

Missed your last question. No you should not lose your deposit as the fact that the finance did not complete means they will give it you back.