My daughter has offered to buy me a car and name me as main driver. Will this affect my IVA ?

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Sharon.g

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Post by Sharon.g » Fri Jan 30, 2015 9:39 pm
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I am nearly one year into my iva and my car is needing replacing. My daughter has offered to buy me a car and name me on the insurance as main driver. It will in effect be for me to use every day will this affect my iva
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Shining

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Post by Shining » Fri Jan 30, 2015 10:32 pm
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I don't think it should affect your IVA if this is a gift, you will already have a budget for the running of one already owning one. Welcome to the forum by the way and what a lovely daughter you have.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
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luluj

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Post by luluj » Sat Jan 31, 2015 4:32 am
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Not an issue and what a lovely thoughtful daughter you have x
Sharing from experiences of dealing with debt

There is a solution for everyone .... Just need to stay positive !

Look at my blog "All I wanted was a baby"
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ilikewatch

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Post by ilikewatch » Sat Jan 31, 2015 7:29 am
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Sounds like it won't be an issue for the IVA. However, who will be the owner and registered keeper? Most insurance companies don't like the owner/keeper/main driver to be different and will refuse to insure or load premiums accordingly - if it is a gift from your daughter it would be best for the car to be registered in your name and insured by you.
"If you think it's expensive to hire a professional to do the job, wait until you hire an amateur."
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SUC

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Post by SUC » Sat Jan 31, 2015 8:36 am
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I done the same with IP's permission, but alot of finance companies frown upon such practice. Thinsk the practice is called Fronting. I got my daughter to finance the car and then I changed the V5 to show I am the registered keeper and main driver to keep the insurance happy
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Adam Davies

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Post by Adam Davies » Sat Jan 31, 2015 9:11 am
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Hi

Can't see an issue too be honest

Regards
Andam Davies
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marksam1

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Post by marksam1 » Sat Jan 31, 2015 10:59 am
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Registered keeper does not mean you own the car
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