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Car Finance Expert Q&A

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Edwin Miles. Underwriting Manager

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Who is liable for the loan repayments?

Hi, I have a relative who is moving country and has kindly offered to give me his car. We agreed I could be the registered owner and he would pay for usual things such as insurance/tax and general running costs.

However the car is still on a finance agreement and although we have agreed my relative will still pay for the repayments, if he fails to pay will I be liable for the repayment as I am the registered keeper of the car?

Posted by Nat on


Hi Nat, in short the answer is No. You won't be liable for the repayments being kept up to date.

As your relative was the one who signed the finance agreement it is his responsibility to keep the payments up to date. If he doesn't keep the payments up to date though be aware that the finance company can come and repossess the car as it still belongs to them until the finance has been paid off.

If you would like to settle the existing finance with an agreement of your own then you can apply here. We'll be able to get an agreement in your name for the car and then it will be up to you to make the repayments. With the money borrowed we'd simply settle the existing finance. I hope this has helped you out and have a good weekend. Kind Regards, Edwin

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My car was stolen and found burnt out due to domestic abuse and an incident that same night with my partner. The insurance are digging there heels in that it's deliberate damage by an insured driver.

My worry is that the car is leased from Volkswagen finance and has a balance of £19800. If the insurance refuse to pay out what on earth do I do about this amount still owed? Thanks

Posted by Claire Wilson on


Hi Claire, thank you for your question and apologies for the delayed response.

The situation you're in is certainly a strange one and i'm sorry to hear what has happened. Unfortunately the finance agreement still needs paying off no matter whether the car is insured or not. If the agreement is in your name then you have the responsibility to keep up with the monthly payments.

Are you saying that the car was stolen and burnt out by your partner? Edwin

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