We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Fairly unique one... buying a car using my mum's credit card?!
Comments
-
2. Get mum's name on car insurance then not only will it most likely be cheaper but proves her use of vehicle whether she uses or not.
Problem being unless they live close enough for the mother to have practical use of it and not having her own car it'll be obviously not accepted as a S75 claimSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0 -
LeeTheRed96 wrote: »Hi everybody, and thank you all for the replies. Appreciate the insight.
For clarity, I'm 35 and own my own home, the mere suggestion of using my mums credit card was a simple solution as I simply don't have one. I've never wanted one, although did use one until recently when my wife passed away and it was closed (given she was the main cardholder and they aren't transferable).
I've decided against using her card. Given that any organisation (be it insurance etc) will always do whatever they can to avoid paying out, this seems like a no brainer that they would not cover.
Just have to run the gauntlet!
All advice much appreciated!
S75 is a legal requirement, they cannot just refuse it, as stupid as it is, one bank (Tesco I think it was) ended up being liable for £22k after their card holder put £500 deposit on a new kitchen
There are benefits to a credit card however, the interest free period on purchases, the S75 cover but also benefits such as cashback on purchasesSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.7K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.6K Work, Benefits & Business
- 600K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards