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Can you get joint car finance?

Can you get joint car finance?
Joint car finance is when two people apply for car finance together, using both their details to support the application. This might be done with a partner or family member, but whoever it is, they must reside at the same address as you. Yes, you can finance a car under joint names.

Can you put a car in joint names?
Yes, you can finance a car under joint names. The process may differ slightly as the lender will need both parties’ details. Not all lenders approve joint applications though, and some impose restrictions such as applicants having to live at the same address.

Can you change V5 ownership online?
To transfer ownership online you’ll need to complete a form on the DVLA website. You’ll need the details of the new owner, and the 11-digit reference number from the car’s V5C. Once the online form is completed and submitted you’ll receive an email confirmation.

Can the owner of a car change the registered keeper?
Every car should be accompanied by a V5C certificate that contains details of the current registered keeper of the car. To change this, the new person buying the car must complete section six of the certificate: this is known as a V5 transfer. You can change the registered keeper online, using the V5C reference number.

Can a loan be transferred to another house?
A mortgage can be transferred from one lender to another, from one servicing company to another and from one borrower to another. It is even possible for a borrower to transfer an existing mortgage from one property to another.

Is Cazoo or Cinch better?
Cinch is an excellent choice if you need clarification on what car you want, as you can make use of their ‘Help Me Search Feature’. However, if you know what car you want and instead prioritise the ability to see each car in extreme detail, then Cazoo may be the best for you.

Can you insure a car if you are not the registered keeper?
Wondering if you can insure a car you don’t own? The answer is yes, you can take out a separate car insurance policy on someone else’s car – but make sure that you tell the insurer you’re not the owner or the registered keeper of the vehicle when you apply.

What does transferred to another lender mean?
As a borrower, all a servicing transfer means is that you’ll send your payments to a different company. That company will now also handle your escrow account, answer questions about your loan, and manage the foreclosure process if you default on the payments.

Can I gift a car to someone UK?
Unlike other possessions, if you give your car to another individual, the ownership of that car has to be legally registered by UK law. This official process of transferring car ownership is what this guide concentrates on.

Is Cazoo Russian owned?
It is based in the UK but listed on the New York Stock Exchange following a merger with a special-purpose acquisition company, led by hedge fund manager Dan Och in August 2021.

Can I return a car with outstanding finance?
You can return it, but you’ll probably have to pay back any remaining money you owe on the contract, so if you still have a year left, then the lender will expect a year’s worth of fees up front. In this instance, it’s better to contact the finance company and see what else you can arrange.

Has Moneybarn gone bust?
It is interesting to note that, while COVID 19 has seen many lenders in the sub-prime market stop lending, lend less or even close, Moneybarn have been thriving!

Does a logbook prove ownership of a car?
The registered keeper of a car will be the person who ‘keeps’ it and uses it day-to-day. This is also the person who appears on the car’s V5C logbook, which is why it states “This document is not proof of ownership”.

Can I get a loan put into someone else’s account?
Well, the only way that you can legally take out a loan in someone else’s name is if you have Power of Attorney (POA) over their finances.

Why are Cazoo cars so cheap?
We rate Cazoo highly. Rather than listing used cars owned by franchised dealers, the site essentially buys up its own stock of about 1500 cars (give or take) and sells them on through its website. It’s a little bit like Amazon for cars.

Does it matter who is the registered keeper of a car?
The registered keeper and owner of a car don’t have to be the same person and each has different responsibilities. A car’s owner and registered keeper are often assumed to be the same thing, because they are usually the same person, but in fact they can be different people.

Can you sell a car on hire purchase?
In the case of a hire purchase, you cannot sell the car until the loan is repaid because the lender is the vehicle’s legal owner until the last payment is made. The only way to sell such a car is to repay the loan early.

What is mortgage porting?
Porting your mortgage is where you buy a new home, but keep your existing mortgage deal or rate. You “port” your deal from your current home to your new one.

What does transfer on loan mean?
Loan Transfer means any pledge, sale, transfer or assignment by Lender of the Loan, the Loan Documents or the servicing rights with respect to the Loan (or any portion thereof and/or interest therein).

Is Cazoo in financial trouble?
In January 2023, the NYSE began the process of de-listing Cazoo as a result of “abnormally low” stock price levels.

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