I had an accident while renting a vehicle from a friend

onyxmontana

Shaun_of_the_Dead wrote: »

I'm surprised the finance company agreed to.such an arrangement.

Jumblebumble wrote: »

So your friend has probably put down a deposit
He has lost his Bike so the amortised value of that deposit for the rest of the term is gone
The insurers have compensated for this but you are going to keep it?
How nice of you

I haven't stated my intention regarding what I will do with any money received whatsoever. It seems you have inferred this from my post

Mercdriver

Jumblebumble wrote: »

I have a lease car
Do you really believe I need to ask the lease company if my new girlfriend may drive it if I have insured her?

That is different to you giving the car to be used regularly for a regular monthly fee.

Jumblebumble

Mercdriver wrote: »

That is different to you giving the car to be used regularly for a regular monthly fee.

True but that is not what you asserted
I cannot think of any reason why the lease company should know or care even if i did unofficially sublet it

I don't think that finance companies would even care who the keeper is ( had a PCP int he name of one of my sons even though the contract was with me The dealer both registered and arranged the PCP)

Jumblebumble

onyxmontana wrote: »

I haven't stated my intention regarding what I will do with any money received whatsoever. It seems you have inferred this from my post

I did indeed from this quote where £1200 is quoted
"Yes, in my correspondence with him I've stated that should we not come to an agreement before the next rental payment is due i will pay the £70 without fail on a monthly basis on the 1st of each month and that any payment in the interim period is deducted from the total outstanding balance of £1200."

Mercdriver

Jumblebumble wrote: »

I have a lease car
Are you seriously suggesting that I need to ask the lease company if my new girlfriend may drive it if I have insured her?

Looking online, a partner/wife/family member may drive it if they meet the criteria:

"Below is the Total Care driver-eligibility criteria:

All drivers must be aged between 21-70.
They must be in possession of a full UK/EU driving licence that has been valid for at least 12 months.
Drivers must not have more than two own-fault claims in the past 24 months.
Anyone using the vehicle cannot have more than 6 points on their driving licence.
They must not have received a driving ban in the past 60 months.
Drivers must not have been advised to stop driving by a medical professional or the DVLA due to a medical condition."

This is from just one agency, but as owners of the vehicle they can make stipulations as to who may drive it.

onyxmontana

Mercdriver wrote: »

I don't understand why your 'friend' doesn't want to get the settlement figure and settle it with the cash you have and then you guys come to some agreement about any excess.

I can't help feeling that there is more to this than what we are seeing...

He wants to retrieve some suppositional figure from me based on when it's paid and has provided several ultimatums.

I don't want to agree to anything other than clearing the balance as his proposition seems to change in every piece of correspondence

There isn't more to it other than this guy can't pay for it himself and is desperate for money. I've literally been harassed to the point of vacating where I was living and therefore we aren't on amicable terms so I don't appreciate his demands or threats and I'll only pay him to what I've agreed to, which is the outstanding finance balance. That has been my position from the beginning and this gent has just chopped and changed as and when he gets the opportunity.

This is why i want to pay the finance myself (not through him) so that i know it's been cleared and that I'm paying the correct amount.

He initially agreed to all of this but seems to have changed his mind once he saw his own bills

Shaun_of_the_Dead

Jumblebumble wrote: »

True but that is not what you asserted
I cannot think of any reason why the lease company should know or care even if i did unofficially sublet it

I can...........

iwb100

onyxmontana wrote: »

He wants to retrieve some suppositional figure from me based on when it's paid and has provided several ultimatums.

I don't want to agree to anything other than clearing the balance as his proposition seems to change in every piece of correspondence

There isn't more to it other than this guy can't pay for it himself and is desperate for money. I've literally been harassed to the point of vacating where I was living and therefore we aren't on amicable terms so I don't appreciate his demands or threats and I'll only pay him to what I've agreed to, which is the outstanding finance balance. That has been my position from the beginning and this gent has just chopped and changed as and when he gets the opportunity.

This is why i want to pay the finance myself (not through him) so that i know it's been cleared and that I'm paying the correct amount.

He initially agreed to all of this but seems to have changed his mind once he saw his own bills

This is backwards. The finance arrangement has nothing to do with you. He should be the one paying it - it is his to settle.

The £1500 payout - I assume is being paid direct to you? I would argue morally and ethically that is his money to use for the purpose of paying off the outstanding finance.

onyxmontana

Jumblebumble wrote: »

I did indeed from this quote where £1200 is quoted
"Yes, in my correspondence with him I've stated that should we not come to an agreement before the next rental payment is due i will pay the £70 without fail on a monthly basis on the 1st of each month and that any payment in the interim period is deducted from the total outstanding balance of £1200."

Yes sure, £1200 is the outstanding balance stated to me and it's fair to assume that should i pay him £70 that the outstanding balance is deducted by the same amount.

If the balance due to an excess being received changes to £1500 then the same principle would apply if i make any payment to him in the interim period.

I haven't conjured this up to ensure that I'll see some excess money over the outstanding finance balance. We agreed over a month ago to only pay the outstanding balance and this friend stated his agreement via email. He has only recently changed his mind and then made threats on the basis of me not agreeing immediately.

I don't want to respond to his threats and on the basis of how the relations have changed I see no reason to pay him more than both of us have already agreed to.

All of his later propositions have been declined and therefore I see it as fair that the original agreement should still stand.

I can appreciate that I shouldn't profit from his loss but in the terms which we have agreed upon previously, that could or could not be the case depending on the actual payout amount (which hasn't been received yet).

Mercdriver

Jumblebumble wrote: »

True but that is not what you asserted
I cannot think of any reason why the lease company should know or care even if i did unofficially sublet it

I don't think that finance companies would even care who the keeper is ( had a PCP int he name of one of my sons even though the contract was with me The dealer both registered and arranged the PCP)

Given the amount of time between the original reply and your edit, you should have started a new post.

Car finance companies do care, because otherwise why would they bother doing credit checks to make sure you can keep up with the payments. You could have a few cars being exported defaulted based on the credit check being done on person A rather than person B. It becomes fraud by false representation.

Also the person renting the car doesn't own the car. The finance company does. The OP is possibly fortunate that it was a non fault claim. Had it been an at fault claim and the insurance co did some digging...that could still happen while there is outstanding debt on the vehicle.