Car ownership and finance
Discussion
Long story cut short a bit.
Basically,the daughter and her husband have split up(after 12years of marriage).
The car they have(he's the registered keeper)was bought using money obtained via a loan applied for by his mother.
They used to repay her a cash amount(£200)per month to re-imburse her which she then paid to the loan company/bank/WHY.
There isn't(and daughter is adamant about this)a paper trail linking the loan to the car only the verbal agreement to pay his monther cash
each month.
He's kept hold of the car and taken the daughter off it's insurance denying her the use of it.(He's done loads more too)
He's trying to get the daughter to pay £100 per month to help pay off his mother,daughter says "No way,not for a car I don't have access to"
She's told him to sell the car and give her 50% of the money it realises,but he keeps banging on about "the loan"for it.
Anyone got any thoughts on this one?
It’s the mothers car legally, she paid for it.
The registered keeper is just who is responsible for taxing it.
If they’ve been paying her for the car then they can’t say it was gifted to them.
If your daughter isn’t going to use it then of course she doesn’t have to pay for it, but also it’s not her car to ask for half of any proceeds from a sale IMO.
The registered keeper is just who is responsible for taxing it.
If they’ve been paying her for the car then they can’t say it was gifted to them.
If your daughter isn’t going to use it then of course she doesn’t have to pay for it, but also it’s not her car to ask for half of any proceeds from a sale IMO.
Has your daughter paid 50% of the total purchase price?
If not then in essence she has been paying her share of the depreciation of it over however many years.
Clearly if no access to the car is now given well clearly you wouldn’t pay. However 12 years of marriage a mere £100pcm is a drop in the ocean to the sad huge cost of divorces and ongoing financial support to a spouse
If not then in essence she has been paying her share of the depreciation of it over however many years.
Clearly if no access to the car is now given well clearly you wouldn’t pay. However 12 years of marriage a mere £100pcm is a drop in the ocean to the sad huge cost of divorces and ongoing financial support to a spouse
Butter Face said:
It’s the mothers car legally, she paid for it.
The registered keeper is just who is responsible for taxing it.
If they’ve been paying her for the car then they can’t say it was gifted to them.
If your daughter isn’t going to use it then of course she doesn’t have to pay for it, but also it’s not her car to ask for half of any proceeds from a sale IMO.
Is the loan secured on the car or simply a personal loan? If it’s not secured then being brutal someone can foxtrot Oscar The registered keeper is just who is responsible for taxing it.
If they’ve been paying her for the car then they can’t say it was gifted to them.
If your daughter isn’t going to use it then of course she doesn’t have to pay for it, but also it’s not her car to ask for half of any proceeds from a sale IMO.
Miggers said:
AFAIK(I will check with daughter on this),it's just a personal loan and not secured on the car.
She's very certain their is no paper trail linking the car to the loan.
What’s the value of the car?She's very certain their is no paper trail linking the car to the loan.
Also as clearly she didn’t buy it cash nor take a loan on it - divorce aside why do you or anyone else think it’s fair and just to say sod it we willl sell it and I’ll tskw half even if I never paid anything for it from day 1 simply it’s depreciation??
Anyway she neeeds to be careful as when the big ticket items like splitting pension pots and mortgage/equity in the house etc the stance may or may not make the now x decide he wants to fight the case much harder so she may lose out.
Welshbeef said:
Miggers said:
AFAIK(I will check with daughter on this),it's just a personal loan and not secured on the car.
She's very certain their is no paper trail linking the car to the loan.
What’s the value of the car?She's very certain their is no paper trail linking the car to the loan.
Also as clearly she didn’t buy it cash nor take a loan on it - divorce aside why do you or anyone else think it’s fair and just to say sod it we willl sell it and I’ll tskw half even if I never paid anything for it from day 1 simply it’s depreciation??
Anyway she neeeds to be careful as when the big ticket items like splitting pension pots and mortgage/equity in the house etc the stance may or may not make the now x decide he wants to fight the case much harder so she may lose out.
For a complete picture - what was the original loan amount, how much did the car cost (if different from the loan - e.g. due to deposit/up-front contribution), how much has been repaid and how much is the car now worth ? Then you'll have a feel for how significant a problem it is, and can put it into the context of the whole situation.
swerni said:
Welshbeef said:
What’s the car worth £1k £30k ?
The mum had to get the loan and the repayment is £200 a month.My guess is much closer to £1k than £30k
IF the Mum got a good rate then she maybe borrowed upto 10/11k over 5 years?
Obviously we don’t know how long they’ve been paying or what the car is but I’d say they either have a small amount of equity or none at all anyway.
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