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Stock565
New Member

5 Posts

Posted - 06 February 2020 :  14:24:46  Show Profile  Reply with Quote
Hello, I posted a few weeks back regarding claims over a road traffic accident, but now I am looking at my options regarding getting another car. My Fiance has very generously offered to take out a loan and pay for a car in her name ( I would pay the repayments to her) but have me as the named driver. She would legally own the car.

The payments are going to be very close to what I was paying previously in my PCP agreement. Is this a practice that is allowed whilst in a PTD?


I want some clarity and facts before I contact my trustee to talk over the process of aquiring a new (used) car.

TIA

M.Stockwell

TDA (Debt Adviser)
Trust Deed Expert



13293 Posts

Posted - 06 February 2020 :  15:08:54  Show Profile  Reply with Quote
Hi Stock565.

I can't see any particular issue with this plan and would be surprised if your trustee objected to it. It's the right thing to talk to them beforehand though, so you can be 100% sure.

Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds    
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David Tannock
Trust Deed Expert



2347 Posts

Posted - 06 February 2020 :  23:04:41  Show Profile  Reply with Quote
Hi Stock565,

Thatís very supportive of your partner to do that.

I donít see any problem with this plan and I think it will be fine. Best to just fall your Trustee a quick email to confirm and that way you have it in writing.

Happy new car shopping!

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