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Car on Finance

2»

Comments

  • bazzyb
    bazzyb Posts: 1,586 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    Starry_Night wrote: »
    Bazzyb all I know it was done through the garage we got the car and it’s Santander

    Dealer finance through Santander would most likely be one of three options:
    - Conditional sale
    - PCP
    - Personal loan

    You would need to check the agreement to see what type of agreement it is.

    If it is conditional sale, then Santander are the legal owners of the vehicle. When the final payment is made, ownership with pass to your ex husband.

    If it is PCP, then Santander are the legal owners. At the end of the agreement your ex husband can choose to make a final balloon payment to purchase the car, or hand the car back to Santander.

    If it is a personal loan, then your husband is the legal owner.

    It is most likely going to be conditional sale or PCP but Santander do occasionally use personal loan as an option.
  • Starry_Night
    Starry_Night Posts: 92 Forumite
    Thank you very much. I will have to try and find out
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