Car finance in ex's name but I am registered keeper..
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Thanks for your response!
Unfortunately, I know very little about the agreement as, initially, this was his car. We swapped after a month or so and the car I was originally driving has long since been traded in and upgraded by him.
I do know that is it an HP agreement of 60 months with no balloon payment. I believe it was very close to £5000 with a £500 deposit.
When my partner and I started looking into swapping two cars for one, I did consider trading it in and, at that time, was advised by a reputable garage that I would require a signed letter from him authorising the trade in by me.
Realistically, I am a bit fed up of helping him out and really would like to just switch the keeper details over and leave the car at his house for him to deal with but wanted to make sure I wouldn't be held accountable for any future payments.
How much do you pay each month (or rather, do you send him that he pays each month).
Could get a rough idea based on the figures you gave me, although appreciate you are not 100% sure.0 -
How much do you pay each month (or rather, do you send him that he pays each month).
Could get a rough idea based on the figures you gave me, although appreciate you are not 100% sure.
So I believe the car was £5000 with a £500 deposit so £4500 on finance over 60 months.. I pay him £115 per month. Thankyou!0 -
So I believe the car was £5000 with a £500 deposit so £4500 on finance over 60 months.. I pay him £115 per month. Thankyou!
The Total to Pay is therefore £7400 (£6900 in monthly payments + the £500 Deposit)
The 50% VT point is £3700 which you have already passed at the 28th Payment. It may be slightly later depending on the Option to Purchase Fee- there is always such a Fee on HP agreements though the Fee can be Nil.0 -
I don't understand why you keeping the car is doing him a favour because it simply isn't. your solution is simple, you need to get the financing your own name and sort out your own problems and get him off the paperwork totallyHello!
So my ex partner and I bought a car in January 2016 but applied for the finance in his name only.
When we split in August 2016, I kept the car (ultimately to be nice as he would have been landed with two finance payments for both his car and mine) and he changed the V5 to reflect that I was now the registered keeper. The direct debit remained in his name and I have been transferring him the car payment every month since then.
My new partner and I are now both looking to get rid of our vehicles and buy one car together as we no longer require two. We do not intend to trade our cars in though - my partner is selling his car privately and we are buying privately.
My question is what I can do with "my" car...
Having had the car for just over half of the finance period (31 months out of 60 months) I would assume that we are very close to the point of being able to hand the car back via volutnary termination.. My problem lies in the fact that my ex partner is being unco-operative and will not contact the finance provider to ascertain how much has been paid etc and we are not keen on delaying our new car purchase much longer.
Ultimately, I'm looking for answers regarding my liability for the car. As stated, the finance is in his name but I am the registered keeper. If I were to change the keeper details to him and leave the car and keys at his address, am I liable for the costs outstanding on finance if it were not time for voluntary termination?
Thanks!If I ruled the world.......0 -
I'm also not sure why he's not coming after you for the payments that he's made to a car that he no longer has, because I wouldIf I ruled the world.......0
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So I believe the car was £5000 with a £500 deposit so £4500 on finance over 60 months.. I pay him £115 per month. Thankyou!
As said, you are probably past the VT point.
But, is the car any good..? Settlement would be around £3k. You could pay that to your ex and settle the finance and then keep the car.ChrisK..... wrote: »I'm also not sure why he's not coming after you for the payments that he's made to a car that he no longer has, because I would
It's been made clear that she is sending money to the ex to cover the monthly payments.The direct debit remained in his name and I have been transferring him the car payment every month since then.0 -
ChrisK… You clearly haven't bothered to properly read my post. I am here for helpful advice.
I have indeed done him a favour for the past two years. The car is not mine. The finance is in his name. I could have left the car with him and had him shoulder two car payments every month but I didn't. I chose to do him a favour by taking one of the cars with me when we split and as for him "coming after me for payments that he's made to a car he no longer has" - again, you haven't bothered reading the post properly. I have transferred him the monthly payment every month since I left.
My solution is not simple. Why would I want to get finance in my own name for a car that I don't want?0 -
Thanks DrEskimo! The car is a 62 plate Corsa, and is currently in the garage as it broke down on me on the motorway on Friday!! So no, not the best condition and I definitely don't want to keep it. I never really wanted the car but have kept it for 2 and a half years to try and get my ex partner to the VT point so he wasn't paying for two cars. I just really want to hand him it back now that I've done my bit!0
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Fill in the V5 in his name and send it to the DVLA - let him know that his car is at the garage as it broke down....oh and stop paying him the money for the finance.
Done.0 -
Its not that much of a favour as you got a car to drive out of it. It would be more of a favour if you paid for something you didn't have or if you had actually taken over responsibility for the finance when you split. If you keep mentioning 'favour' to your ex that could be what is getting his back up. Truthfully, the favour looks the other way round - he let you keep driving a car and stayed responsible for the payments. If you didn't want the car, why didn't you get rid much earlier or, if you were keeping it, refinance in your own name ? Perhaps he feels as burdened as you do.
If you can't have a chat about it, maybe an email with a list of options. Make it clear you ARE getting rid but want to make sure its done in a way which doesn't leave him with any problems so are giving him first choice how to do it ie a more tangible favour from you. If he sees that a likely option if he stays silent is payment stopping and getting the car back he might just play ball.
PS just seen that its broken down and in the garage - are you hoping to avoid paying for repairs as that could explain radio silence from the ex as well.0
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