Car finance plan

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bbk15

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Post by bbk15 » Wed Mar 03, 2021 3:20 pm
Hi,
I'm just wondering if anyone has any experience/information on taking over car finance.
Due to the breakdown of my relationship, I need to look at options as buying an outright car isn't possible. My partner is very well paid with a great credit score so most things are in his name. My car is of high value approx £21k left and was bought a present, ideally I'd just like to take over the finance as he doesn't want the car and will not keep it but because of the value I don't think they will accept. I have already discussed this with IVA company and I have sent documents off for a review. I'm just really worrying! Thanks :)

Foggy

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Post by Foggy » Wed Mar 03, 2021 3:36 pm
That is a worryingly high value vehicle and, in some part, what IP and creditors make of it will depend on all of the figures. It is impossible to guess without the full details of your IVA / finances and situation.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
http://foggy.blogs.iva.co.uk

bbk15

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Joined: Wed Mar 03, 2021 3:04 pm

Post by bbk15 » Wed Mar 03, 2021 3:46 pm
Hey, thanks for the reply. I'm aware it's a high value, hence why I am worrying so much myself... I pay my partner money towards our home and the car, my parents have said I can move home rent free so my outgoings won't change too much should I take over the finance completely. Or the other option is taking out finance for a lot less value car.

kallis3

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Post by kallis3 » Wed Mar 03, 2021 5:53 pm
Is the finance in your name or your partners?
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

bbk15

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Joined: Wed Mar 03, 2021 3:04 pm

Post by bbk15 » Wed Mar 03, 2021 7:37 pm
Hi,
The finance is in my partners name

kallis3

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Post by kallis3 » Wed Mar 03, 2021 7:49 pm
You are unlikely to be able to take out finance for a car and I doubt the company would let you take over the agreement.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk

bbk15

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Joined: Wed Mar 03, 2021 3:04 pm

Post by bbk15 » Wed Mar 03, 2021 8:20 pm
I did think that. Thanks for the reply :)
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