Buying wife a car on finance as a gift?

Owainwbm

Hello there! My wedding anaversary is coming up and my wife needs a new car. I was thinking of buying a car for her as a gift.

However I read somewhere that as I won’t be the main driver I could be committing fraud.

Could anyone please clarify what I can or can’t do regarding financing a car as a gift.

Cheers :beer:

[Deleted User]

Owainwbm wrote: »

However I read somewhere that as I won’t be the main driver I could be committing fraud.

I think you may be confusing finance with insurance.

Owainwbm

No no haha it was definitely about finance. I’ll try the article I read.

Owainwbm

Here’s the full arrival but I’ve quoted the bit that got me worried!

wwdothecarexpertdotcodotuk/taking-car-finance-for-someone-else[/url]

Don’t commit fraud so someone else can drive a new car!

Whilst the concept of an accommodation deal is not illegal, the concept of fraud most certainly is. Finance companies have become very sensitive to accommodation deal agreements in recent years, and they are on the lookout for any applications which may be considered such.

Usually, as part of the terms and conditions of your finance contract, you will have to declare that you will be the registered owner and keeper of the vehicle, and that you are the main driver.

If you are applying for finance on behalf of someone else, and you do not intend to be the primary user of the vehicle, you will be lying to the finance company and that is considered fraud. In such circumstances, both persons involved (the one unable to get finance and the one applying for it on their behalf) would be committing fraud by attempting to deceive the finance company.

John_G_Jones

Owainwbm wrote: »

Hello there! My wedding anaversary is coming up and my wife needs a new car. I was thinking of buying a car for her as a gift.

However I read somewhere that as I won’t be the main driver I could be committing fraud.

Could anyone please clarify what I can or can’t do regarding financing a car as a gift.

Cheers :beer:

I did exactly this at Christmas. I visited the showroom alone, test drove the car, signed the finance documents and asked them to register it in her name.

I then insured it myself, in her name, and gave it to her as a gift at Christmas.

She’s now the owner, the keeper, the policy holder and the main driver, all above board and legit.

[Deleted User]

both persons involved (the one unable to get finance and the one applying for it on their behalf) would be committing fraud by attempting to deceive the finance company.

But is your wife unable to get finance?

Also, could you not take out a bank loan, and buy it with that?

[Deleted User]

I think someone suggested that.

Oh yes, it was me.

foxy-stoat

Owainwbm wrote: »

Hello there! My wedding anaversary is coming up and my wife needs a new car. I was thinking of buying a car for her as a gift.

However I read somewhere that as I won’t be the main driver I could be committing fraud.

Could anyone please clarify what I can or can’t do regarding financing a car as a gift.

Cheers :beer:

Nothing to do with you being the main user.

You cannot gift something that is not yours, assuming the finance your talking about is not secured on the vehicle.

parking_question_chap

Why not buy her perfume like everybody else? Plus of couse its probably more with your price range.

[Deleted User]

foxy-stoat wrote: »

assuming the finance your talking about is not secured on the vehicle.

Don't you mean is secured on the vehicle?

Mr.Generous

Good thread, never realised that. Was going to do this for wife's 40th and user dealer finance because of 0 percent finance deal. In the end the number of fee's and charges they wanted meant it was better just paying cash (it was a cheap car last of a model bargain - I'm not made of money...) but I never had a clue anyone could consider it a fraud.

Like earlier poster I registered it in her name and even scribbled on the log book and traded her old car so it was a complete surprise. Fraud? I can see it being an issue if you got behind on the payments, but if you paid it off would they actually care?