Got bank loan in my name for car but ex husband has now sold it, where do I stand?
I got a bank loan in my name to pay for car, my ex husband at the time signed for the car so it was in his name. but it was from my bank account that the money came from he has sold car but im still paying of bank loan. Where do i stand? The money from the sale what am i by law entitled to, the money used to pay bank loan was my sons DLa, car bought for purpose of making life easier for my son
6 Replies
Paying for a lease car off boss which is in his name, will this affect our insurance?
Me and my partner are paying his boss for his leased old car, we registered the car in my name and got car ins. The boss has now said he need the car back in his name due to the policy of the lease. Will this effect my car ins. I am named driver on the car. Thanks
[Migrated from previous topic 12496 dated 31 Oct 2012]
When the car got registered in your name, were you the policyholder or a named driver on the leased car?
If you're no longer the registered keeper, then you will have difficulty in finding car insurance. And if you're currently a named driver, then you shouldn't be the one who primarily uses the car as in the event of an accident, the insurer can refuse to pay out the claim on this basis.
[Migrated from previous post 1945 dated 04 Nov 2012]
Took a loan in my name to purchase car for friend but he's not paying up now
If I have a loan in my name to purchase a car for a friend and the v5 is in his name, can I force him to sell it? This was a year ago and he paid me for the loan up until May and then the direct debit went out of his bank account. The loan is still in my name.
[Migrated from previous topic 11350 dated 26 Aug 2010]
If the car loan is in your name, then you are responsible to pay it back. It doesn't matter whether the money has been taken for your personal spending or someone else, at the end of the day the contract is between you and the lender. You cannot force your friend to sell the car as you do not have any rights on it unless you are the legal owner. If you have proof that you have purchased this car (eg a receipt from the dealer), then you've got grounds to get your money back.
[Migrated from previous post 1253 dated 12 Sep 2010]
When you get a personal loan from the bank, it can be used for anything (buy a car, new furniture, tv etc). It does not prove ownership of the things that you buy with the loan. If your ex-husband has been named as the legal owner of the car, then there's little that you can do. The owner of the car can sell the car or do whatever he wants with it unless there's outstanding finance remaining on it. I don't suppose there will be any outstanding finance on the car because the loan you took would have paid the car in full and that means that your ex-husband owns the car fully and has the rights to sell it and keep the money.
I got finance in my name for my ex partner to get a car. The car is registered to him. He wants sell the car....what are my rights? He is making the regular monthly payments, however, I have to chase him for it. He is refusing to sell the car to settle the finance. I am unable to get the mortage amount I require due to this outstanding loan. What are my rights?
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