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Car on Finance
Starry_Night
Posts: 92 Forumite
Hi
I am probably posting this in the wrong place, but have not been on here for some time.
Just a quick question please?
I have my car on finance. The finance is in my ex husbands name and is paid for every month by him instead of paying me maintenance for our child. The log book is in my name. I realise that as the finance is in his name he is the legal owner of the car currently. When the finance ends in August, who would then be the legal owner of the car?
Many thanks for your help.
I am probably posting this in the wrong place, but have not been on here for some time.
Just a quick question please?
I have my car on finance. The finance is in my ex husbands name and is paid for every month by him instead of paying me maintenance for our child. The log book is in my name. I realise that as the finance is in his name he is the legal owner of the car currently. When the finance ends in August, who would then be the legal owner of the car?
Many thanks for your help.
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Comments
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He will still be the legal owner.
Having your name on the log book is not an indication of ownership.
As long as both parties agree, he could just relinquish ownership to you.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Thank you. Would this need to be done via a solicitor so that it is in writing ?0
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Starry_Night wrote: »Thank you. Would this need to be done via a solicitor so that it is in writing ?
Oh god no, as part of my divorce settlement, i got my ex`s old car gratis, ownership does not really matter, if your already on the log book, then just leave things as they are.
I had to change her name to mine with DVLA, you can just say you are the owner as long as your ex agrees that is ok.
He/you can knock up a bill of sale if you wish, but it is not necessary, and you certainly do not need to spend any money.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Easier said that done with my ex. What I’m worried about is some time down the line when the car is paid off that he will suddenly decide he wants it back even though I paid for the first three years of the finance and he took it over when we parted. I really don’t think he would sign anything to hand it over. So what I’m saying is later in the year could he just come along and say I’m having the car back?0
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Starry_Night wrote: »Easier said that done with my ex. What I’m worried about is some time down the line when the car is paid off that he will suddenly decide he wants it back even though I paid for the first three years of the finance and he took it over when we parted. I really don’t think he would sign anything to hand it over. So what I’m saying is later in the year could he just come along and say I’m having the car back?
If the situation is not that friendly, then that does complicate the issue, you would have to buy the car from him in that case to become the legal owner.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Ok thank you very much for your help.0
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Probably easiest to just buy the car from him for £1.Debt Totals July 2019::
[STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0 Total £7,0000 -
Why not simply get him to pay maintenance as he should? You can then deal with the car finance yourself putting you in a stronger position to claim ownership come August.
Rob0 -
Starry_Night wrote: »I realise that as the finance is in his name he is the legal owner of the car currently. When the finance ends in August, who would then be the legal owner of the car?
He is almost certainly not the legal owner of the car currently - what type of finance agreement is it?0 -
Bazzyb all I know it was done through the garage we got the car and it’s Santander0
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