Finance loan in exes name.. advice please!

Jersey497

My partner and I have recently split over the past few days. In February 2023, he bought me a car as a gift (I have texts which prove it was purchased for me as a present). The finance loan is in his name but everything else, V5, insurance etc is in mine. It has been my choice to split due to his issues with alcohol and because I will not take him back, he is telling me he is going to stop paying for the car. I cannot afford the repayments if he does this which he knows.

I really need a car to get to work and take my children places, so I am really scared.

I have read that if a third of the loan has been paid off which it has, it becomes protected and a court order will be needed. What about if half is paid off? I have heard that even going through the courts, a car can't be repossessed if half of the loan has been paid? Is this true?

Is there any way at all that if he stops making payments I will be able to keep the car? Any loopholes etc? Thank you so much. 

HillStreetBlues

Jersey497 said:

My partner and I have recently split over the past few days. In February 2023, he bought me a car as a gift (I have texts which prove it was purchased for me as a present). The finance loan is in his name but everything else, V5, insurance etc is in mine. It has been my choice to split due to his issues with alcohol and because I will not take him back, he is telling me he is going to stop paying for the car. I cannot afford the repayments if he does this which he knows.

I really need a car to get to work and take my children places, so I am really scared.

I have read that if a third of the loan has been paid off which it has, it becomes protected and a court order will be needed. What about if half is paid off? I have heard that even going through the courts, a car can't be repossessed if half of the loan has been paid? Is this true?

Is there any way at all that if he stops making payments I will be able to keep the car? Any loopholes etc? Thank you so much. 

What type of finance loan, who is the named owner, is it the finance company?

Jersey497

HillStreetBlues said:

Jersey497 said:

My partner and I have recently split over the past few days. In February 2023, he bought me a car as a gift (I have texts which prove it was purchased for me as a present). The finance loan is in his name but everything else, V5, insurance etc is in mine. It has been my choice to split due to his issues with alcohol and because I will not take him back, he is telling me he is going to stop paying for the car. I cannot afford the repayments if he does this which he knows.

I really need a car to get to work and take my children places, so I am really scared.

I have read that if a third of the loan has been paid off which it has, it becomes protected and a court order will be needed. What about if half is paid off? I have heard that even going through the courts, a car can't be repossessed if half of the loan has been paid? Is this true?

Is there any way at all that if he stops making payments I will be able to keep the car? Any loopholes etc? Thank you so much. 

What type of finance loan, who is the named owner, is it the finance company?

The named owner is me and yes it was through the finance company. We explained to them that I would be the driver and registered owner as he was buying it for me as a gift and he would have the loan in his name

DullGreyGuy

Jersey497 said:

HillStreetBlues said:

Jersey497 said:

My partner and I have recently split over the past few days. In February 2023, he bought me a car as a gift (I have texts which prove it was purchased for me as a present). The finance loan is in his name but everything else, V5, insurance etc is in mine. It has been my choice to split due to his issues with alcohol and because I will not take him back, he is telling me he is going to stop paying for the car. I cannot afford the repayments if he does this which he knows.

I really need a car to get to work and take my children places, so I am really scared.

I have read that if a third of the loan has been paid off which it has, it becomes protected and a court order will be needed. What about if half is paid off? I have heard that even going through the courts, a car can't be repossessed if half of the loan has been paid? Is this true?

Is there any way at all that if he stops making payments I will be able to keep the car? Any loopholes etc? Thank you so much. 

What type of finance loan, who is the named owner, is it the finance company?

The named owner is me and yes it was through the finance company. We explained to them that I would be the driver and registered owner as he was buying it for me as a gift and he would have the loan in his name

Are you sure you are the owner? If its tied finance normally the finance company keeps the title of the vehicle until its been paid... you are the registered keeper though to deal with the day to day running of the car.

What type of finance was it? PCP? PCH? HP? personal loan?

HillStreetBlues

I agree, if  finance is taken out on the car, the finance is normally the owner.
If that is the case, then as I see it the, your ex can't have gifted you the car yet as it's still the finance company car until it's paid off and you can't give away something you don't own.
What happens next is what your ex does, as there is a 1/3 payment rule, BUT it won't apply if the loanee (your ex) gives permission for them to take the car.

Jersey497

DullGreyGuy said:

Jersey497 said:

HillStreetBlues said:

Jersey497 said:

My partner and I have recently split over the past few days. In February 2023, he bought me a car as a gift (I have texts which prove it was purchased for me as a present). The finance loan is in his name but everything else, V5, insurance etc is in mine. It has been my choice to split due to his issues with alcohol and because I will not take him back, he is telling me he is going to stop paying for the car. I cannot afford the repayments if he does this which he knows.

I really need a car to get to work and take my children places, so I am really scared.

I have read that if a third of the loan has been paid off which it has, it becomes protected and a court order will be needed. What about if half is paid off? I have heard that even going through the courts, a car can't be repossessed if half of the loan has been paid? Is this true?

Is there any way at all that if he stops making payments I will be able to keep the car? Any loopholes etc? Thank you so much. 

What type of finance loan, who is the named owner, is it the finance company?

The named owner is me and yes it was through the finance company. We explained to them that I would be the driver and registered owner as he was buying it for me as a gift and he would have the loan in his name

Are you sure you are the owner? If its tied finance normally the finance company keeps the title of the vehicle until its been paid... you are the registered keeper though to deal with the day to day running of the car.

What type of finance was it? PCP? PCH? HP? personal loan?

Oh sorry yes the owner is the garage that we purchased from, the keeper is me and PCP I believe. He has the documents so I am not entirely sure but he paid a deposit and then monthly equal payments

Jersey497

HillStreetBlues said:

I agree, if  finance is taken out on the car, the finance is normally the owner.
If that is the case, then as I see it the, your ex can't have gifted you the car yet as it's still the finance company car until it's paid off and you can't give away something you don't own.
What happens next is what your ex does, as there is a 1/3 payment rule, BUT it won't apply if the loanee (your ex) gives permission for them to take the car.

If he doesn't give them permission to take the car, what happens next? I know the 1/3 payment rule is that they need a possession order but is there any way at all I could keep the car and they go after him for the money?

Jersey497

Jersey497 said:

DullGreyGuy said:

Jersey497 said:

HillStreetBlues said:

Jersey497 said:

My partner and I have recently split over the past few days. In February 2023, he bought me a car as a gift (I have texts which prove it was purchased for me as a present). The finance loan is in his name but everything else, V5, insurance etc is in mine. It has been my choice to split due to his issues with alcohol and because I will not take him back, he is telling me he is going to stop paying for the car. I cannot afford the repayments if he does this which he knows.

I really need a car to get to work and take my children places, so I am really scared.

I have read that if a third of the loan has been paid off which it has, it becomes protected and a court order will be needed. What about if half is paid off? I have heard that even going through the courts, a car can't be repossessed if half of the loan has been paid? Is this true?

Is there any way at all that if he stops making payments I will be able to keep the car? Any loopholes etc? Thank you so much. 

What type of finance loan, who is the named owner, is it the finance company?

The named owner is me and yes it was through the finance company. We explained to them that I would be the driver and registered owner as he was buying it for me as a gift and he would have the loan in his name

Are you sure you are the owner? If its tied finance normally the finance company keeps the title of the vehicle until its been paid... you are the registered keeper though to deal with the day to day running of the car.

What type of finance was it? PCP? PCH? HP? personal loan?

Oh sorry yes the owner is the garage that we purchased from, the keeper is me and PCP I believe. He has the documents so I am not entirely sure but he paid a deposit and then monthly equal payments

Oh sorry I forgot to add, we part exchanged my previous car for £500 and then equal monthly payments

HillStreetBlues

Jersey497 said:

If he doesn't give them permission to take the car, what happens next? I know the 1/3 payment rule is that they need a possession order but is there any way at all I could keep the car and they go after him for the money?

For the garage it's much easier to go after the car, rather then try and chase your ex for the money, that's why the loan is secured against the car.
If your ex decides not to pay, then I see the only way to keep the car is to take over the repayments, but if that happens you would need to make sure that the car is then fully yours.

Jersey497

HillStreetBlues said:

Jersey497 said:

If he doesn't give them permission to take the car, what happens next? I know the 1/3 payment rule is that they need a possession order but is there any way at all I could keep the car and they go after him for the money?

For the garage it's much easier to go after the car, rather then try and chase your ex for the money, that's why the loan is secured against the car.
If your ex decides not to pay, then I see the only way to keep the car is to take over the repayments, but if that happens you would need to make sure that the car is then fully yours.

Are there any rules around them not being able to take the car back once half etc has been paid?

breaking_free

Okay, I'll be the bad guy here (and I'm female).
If the roles were reversed, and your partner was trying to make you keep paying for a gift after he broke up with you, would you be morally okay with that?
In your shoes I would find a way to take over the payments or give up the vehicle and get a cheaper one.