Page 1 of 1
Posted: Fri Feb 19, 2010 8:14 pm
by hoobily
Hi My mum is thinking about buying me a car as mine is so old and past it that she doesnt deem it safe for me and my girls.
She would get the finace on it etc but it would be registered in my name.
Would this be allowed in an IVA or would this be breaking the terms? I wouldnt be paying for it I hasten to add. I cant afford it! lol xx
Posted: Fri Feb 19, 2010 8:26 pm
by Adam Davies
Hi
That would not be a problem at all.
Good old mum !!
Regards
Posted: Fri Feb 19, 2010 8:40 pm
by plasticdaft
Just be clear from the star twith your IP that you are never going to actually own the car and you cant go wrong.
Mums really are great!!!
Posted: Fri Feb 19, 2010 8:44 pm
by hoobily
Thanks I shall lether know! Where would we be without them eh xx
Posted: Fri Feb 19, 2010 10:47 pm
by Julie
What a lovely Mum you have hoobily [:)]
xx
Posted: Fri Feb 19, 2010 11:03 pm
by MelanieGiles
Absolutely no effect on your IVA, and how nice of your Mum to help you out like this. With Mother's day around the corner, I am sure she will be in line for a little treat.
Posted: Fri Feb 19, 2010 11:09 pm
by kallis3
That's lovely hoobily, what a great mum you have.
Posted: Sat Feb 20, 2010 10:16 am
by johnB
My mother did similar for me (just purchased the car outright with cash, so no HP) and it was registered in my name so I didn't have to explain anything to my insurers. I called my IP and they said it was fine, so long as she didn't give me the money to buy it.
Posted: Sat Feb 20, 2010 12:18 pm
by confuzzled
johnB wrote:
My mother did similar for me (just purchased the car outright with cash, so no HP) and it was registered in my name so I didn't have to explain anything to my insurers. I called my IP and they said it was fine, so long as she didn't give me the money to buy it.
Sorry, I think I'm having a blond moment as I don't really understand what you mean. And, as someone who's bound to be in a similar situation during the course of my IVA - current car is on it's last legs (wheels?!), Mum who may be willing to buy me a car / lend me the money - I'm curious to know what exactly you explained to your IP. Are you saying that your Mum simply gifted you the car, and you then registered in your own name? Or did you agree to pay her back after the IVA.
Really just exploring the whole 'how to replace my car' issue now as I know it's going to have to happen sooner rather than later.
Posted: Sat Feb 20, 2010 1:03 pm
by Adam Davies
Hi
If your family buy a car for you, or gift you the money to purchase a car then there is no problem as long as they retain ownership. You can be a registered keeper and not the owner.
Regards
Posted: Sat Feb 20, 2010 1:25 pm
by hoobily
Yeah I'm definately going to have to think of a good present rather than just the flowers/ chocs hehe x
Posted: Sat Feb 20, 2010 2:57 pm
by confuzzled
Andy Davie wrote:
Hi
If your family buy a car for you, or gift you the money to purchase a car then there is no problem as long as they retain ownership. You can be a registered keeper and not the owner.
Regards
Does this not create complications with insurance? Surely you have to declare whether you own the car or not?
Posted: Sat Feb 20, 2010 6:19 pm
by marky b
The log book is not actually proof of ownership it just states the registered keeper.If you think about it a car may be owned by a finance company but registered to the keeper. this is why it is so important to hpi check a motor before buying.
the main thing is to let your ip know imho.
good old mum.
my mum bought me a gateaux from iceland yesterday.dont suppose you wanna swap mums by any chance.
Posted: Sat Feb 20, 2010 6:22 pm
by marky b
just realised i said what andy said, sorry.
Posted: Sat Feb 20, 2010 6:41 pm
by kallis3
You shouldn't have problems with the insurance. As stated, the registered keeper is not necessarily the legal owner.