Personal Finance

car finance

is it true that to be given finance on a car you have to have a full uk driving license

rcbhutchy6 Wed 13/08/08 21:54

<< Previous

Next >>

Subscribe to question

Post an Answer

CheekyChops
Wed 13/08/08
22:04

No. Plenty of people who can't drive buy cars.

moomintroll1
Wed 13/08/08
23:50

It is a common stipulation by the finance company that the applicant has a full UK driving licence (although not a legal requirement and so dependent on the lender in question).

This is because, as a rule, they frown on accommodation deals, which is where someone takes out finance on a vehicle which for all intents and purposes is for someone else, simply because all too often, the two people fall out and neither is willing to continue making the repayments.

There is little they can do to stop these kinds of deals, except identify cases where it is obvious that the vehicle is not for the applicant, such as in the case you describe where the applicant can't drive.

Post an Answer

Submit the above question and answers

add to del.icio.us	add to digg	add to furl
add to reddit	add to Technorati	add to Blinklist
add to StumbleUpon	add to squidoo	add to ma.gnolia
add to Cocomment	add to Netscape	add to Fark