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Thread: would you?

  1. #1
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    Default would you?

    my sisters car old vectra b is becomeing a nite mare loads repairs but always something new goes her husband just made redundant but is building up a window round already 80 houses really makeing effort sister doesnt work but been asked if i can get them credit for newer car hence i have i got them a 1.6astra 55 plate breeze 5dr for £5280 after trade in its mint and do mean mint 31k on clock over 5years ive put car in my name but still feel bit uneasy reason am doing it 1 she is my sister 2 he trying hard to make a go of it and 3 my two little neices . quick ask any know what the service interval is on these ? also i know my spelling bad !

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    Regular Member Big Knox's Avatar
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    lol love how most of that post has no relevence to the question you ask at the end.

  3. #3
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    just me ask wife ! 2hrs sleep of nites hasnt helped lol

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    Full Member neverlandandy's Avatar
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    Vehicle : Insignia Elite Nav

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    it may just be me but i wouldn't get credit for anyone if anything happens and they can't pay can you afford to

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    i can yes its £116 a mnth and my mum and dad already asked would half the payment but after 3mnths i would take the ca r back

  6. #6
    Regular Member brifen's Avatar
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    Quote Originally Posted by jimbob78 View Post
    i can yes its £116 a mnth and my mum and dad already asked would half the payment but after 3mnths i would take the ca r back
    Just a point to note, the V5 doc is NOT a legal document and just because your name is on it doesn't mean you own the car or are the rightful owner, it simply means you are the person who is responsible for the taxing of the vehicle and other vehicle related enquiries (fixed penalty notices etc..)

    Senario: Your sister stops paying for the car and tells to you stuff it she isn't paying anymore. Believe me the police are not going to interested at all and will say it is a dispute and to go through a solicitor. So at this point in time your left to pay for a car you don't have and don't technically own. So you now go to a solicitor and pay even more money to try and get the car back, this can take months and months (years) and your still paying for a car that you don't own that sister is still running around in (gratis). The police still don't want to know as your sister says you gave it her as a gift!! Outcome - TOTALLY STUFFED! You then have a bright idea of you have a spare key? So you say to yourself I'll go pick it up when she parks the car or something, well that's when your sister reports you have stolen her car and now your getting arrested! Yip life's not fair, now you have a criminal record for stealing your own car that you dont own and still having to pay for, you have whopping solicitors bill for a case that you would be very very lucky to win. You say not likely but believe me it happens.

    The only way to cover yourself is to have an official writen agreement (contract) that you and your sister sign to say that you are the full and rightful owner of the car and that your sister is gong to pay you £XXX amount each month for the use of it until the final HP payment is made when you will transfer the car into her name.

    Goto to have that agreement (contract(signed!)). Otherwise you leave yourself completely open. The other thing to be aware of if your sister or someone else driving the car is caught speeding, going through a red light or not paying the congestion charge then it is you they will be chasing first and as your name is on the V5 your held intially responsible, ending up with all the hasle because of someone else.

    It is a very nice and kind thing to do, I'd do it for my sister (have in the past) but you do also need to cover your back.

    Bri.
    Last edited by brifen; 16th September 2009 at 23:16.

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    Regular Member signum junkie's Avatar
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    I have done this sort of thing in the past for a member of family and would do so again as long as you are confident in them being able to pay the instalments and you can afford it if they fall behind . I think I would always put family first mine or the wifes. thats what family is for to help each other as long as its a two way thing.

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    Regular Member Telly Addict's Avatar
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    Don't take offense mate but I would think very carefully before going this route. I hate credit at the best of times and certainly wouldn't dream of taking it out for someone else, no matter who they were! I'd rather give them a loan.

    Just my 2p but given their financial status, should they be looking at £5k cars when they can't get offered credit on them? I don't want to sound like I'm on a soapbox but I really think people should live within their means. If all you can afford is a sub £1k car, then that's what you need to be driving. I've been there myself and I know it's not much fun but that's reality unfortunately.

    I know she's your sister but I think you're potentially letting yourself in for a whole heap of trouble. I'm sure you could help in some form without signing your life away...

    Also, just because a car costs £5k doesn't mean it won't break down or cause expensive problems. Will she afford to fix it if she is paying the credit agreement? Or vice versa...

    I hope I haven't offended you mate, but you did ask for opinions. And my opinion is that it would be a very kind but very unwise move. Nobody can predict the future, who's to say what will happen in your sister's life in the course of the credit agreement.

    Cameron

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    she has signed to say after 3 mnths no payment i take it back and yes i trust her but in truth its costing way more than £116 a mnth to keep the old vectra going happy i can help and yes can afford to take over payments but if comes to that ill get rid of wifes car and she can have the astra

  10. #10
    Regular Member Terry Tibbs's Avatar
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    keep the spare keys for the car, if you get any aggro (although i'm sure it'll all be fine) you can nip round one night and get your car back without any probs!

    is good of you to help out in that way though mate, thats why i'm sure your sister won't mess you about, she'll be grateful for your help.

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