Leasing a car (PCP) without a licence? Help please

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Y2J97
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Hey guys,

With my test coming up in a few weeks, my parents suggested getting a car for me to practice (my dad has an automatic so it's no use) and we can't always hire a dual control car due to limited bookings and other plans etc.

I am only 17 and so I cannot lease the car under my name and my dad cannot get credit due to past problems and so we have to buy it under my mum's name but the problem is, she can't drive! She has a provisional but it expired 3 years ago.

Will it still be possible to get the car? The car is a Corsa SXI 1.2 5 door.

Thanks in advance.
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username239687
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(Original post by Y2J97)
Hey guys,

With my test coming up in a few weeks, my parents suggested getting a car for me to practice (my dad has an automatic so it's no use) and we can't always hire a dual control car due to limited bookings and other plans etc.

I am only 17 and so I cannot lease the car under my name and my dad cannot get credit due to past problems and so we have to buy it under my mum's name but the problem is, she can't drive! She has a provisional but it expired 3 years ago.

Will it still be possible to get the car? The car is a Corsa SXI 1.2 5 door.

Thanks in advance.
Whilst not illegal to do finance in someone else's name, 99.99% of finance companies won't touch it with a barge pole.
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JC.
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(Original post by ToastyCoke)
Whilst not illegal to do finance in someone else's name, 99.99% of finance companies won't touch it with a barge pole.
Finance companies will accept other forms of ID other than a driving licence.
They would take a provisional licence for example.

If the situation was explained they would put it through. At the end of the day, you're just financing a product. The fact it's a car is neither here nor there.
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omarion526
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It depends on the company. Some will stipulate that you need to be the driver for the simple reason that with the car being the security of the loan, they want to ensure that the driver is going to have culpability and not destroy it with no financial implication.. But most financiers just stipulate that a fully comp insurance policy needs to be on the car. Usually that doesn't matter if the owner's name on it but again some companies will want it - It's no different to a company buying a car on finance and then taking out an insurance policy with employees names on it etc.
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username239687
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(Original post by JC.)
Finance companies will accept other forms of ID other than a driving licence.
They would take a provisional licence for example.

If the situation was explained they would put it through. At the end of the day, you're just financing a product. The fact it's a car is neither here nor there.
I wasn't talking about the license situation at all. I was talking about putting the finance through in somebody else's name. If the OP has SOME sort of credit record, best he could hope for is his mum as guarantor.
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earthworm
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Buy an old 500 pound fiesta with your deposit money. All you need to start driving. Buy a new car when fiesta dies and px the fiesta. Even though an old car will cost in repairs it wont come close to the pcp payments and won't depreciate in value.

If you have credit problems more credit is rarely the answer.
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JC.
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(Original post by ToastyCoke)
I wasn't talking about the license situation at all. I was talking about putting the finance through in somebody else's name. If the OP has SOME sort of credit record, best he could hope for is his mum as guarantor.
Parents frequently finance cars for kids. It's not a unique situation.
That'll go through no problem.

Infact it's fairly common for dealers to do birthday cars. Wrap it with ribbons the whole shebang. Not unusual at all.
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Y2J97
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My mum is down as buying the car, even though she cannot drive. In the shop they registered her details and put 'no licence' but then a few hours later they phoned us asking if she had a provisional as they had to put that down for some reason but the provisional licence is about 6 years out of date.
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shaymarriott
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(Original post by Y2J97)
My mum is down as buying the car, even though she cannot drive. In the shop they registered her details and put 'no licence' but then a few hours later they phoned us asking if she had a provisional as they had to put that down for some reason but the provisional licence is about 6 years out of date.
Put down her license number? If she renews it the license number will stay the same. Not sure on official take on this, it's only a guess!
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gbduo
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To the finance company, the car is not the guarantee, the person paying the bill is. If you wrap the car around a tree and write it off, the loan isn't written off. You will continue to pay the finance company for a car that is no longer yours or in your possession.

Getting a car on finance as a first car is bloody risky...
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omarion526
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(Original post by gbduo)
To the finance company, the car is not the guarantee, the person paying the bill is. If you wrap the car around a tree and write it off, the loan isn't written off. You will continue to pay the finance company for a car that is no longer yours or in your possession.

Getting a car on finance as a first car is bloody risky...
yes and no. The person paying the bill is the guarantor for the payments, but but the car is the collateral/security should the guarantor not pay. Car loans are secured loans (unless you just get a bank loan). Effectively the car is their possession (at least in a hire/purchase arrangement) until you pay it off on your typical secure car loan and they remove their interest in the car hence the term repossession if you don't pay your car loan.

With regards to writing it off, you generally won't find a legit company that doesn't write the requirement for the owner to maintain fully comp insurance into the contract for that very reason. If there's no insurance and a big crash / theft, then there's no security for them to repossess if the client decides they can no longer pay; which ensures court costs and them most likely not getting their money back. Typically you smash it up, the insurer pays off your loan (as far as the insured sum provides) and you don't see a penny unless the value is greater than the finance owing.
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Y2J97
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Thank you all for the replies! I'm picking the car up on Wednesday!
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gbduo
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(Original post by omarion526)
yes and no. The person paying the bill is the guarantor for the payments, but but the car is the collateral/security should the guarantor not pay. Car loans are secured loans (unless you just get a bank loan). Effectively the car is their possession (at least in a hire/purchase arrangement) until you pay it off on your typical secure car loan and they remove their interest in the car hence the term repossession if you don't pay your car loan.

With regards to writing it off, you generally won't find a legit company that doesn't write the requirement for the owner to maintain fully comp insurance into the contract for that very reason. If there's no insurance and a big crash / theft, then there's no security for them to repossess if the client decides they can no longer pay; which ensures court costs and them most likely not getting their money back. Typically you smash it up, the insurer pays off your loan (as far as the insured sum provides) and you don't see a penny unless the value is greater than the finance owing.
Ummm, you are assuming the insurance company will pay a fair price or the sum of the finance remaining. Given depreciation, this is not always a certainty therefore leaving you in a position whereby you will still have to make up the debt.
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omarion526
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(Original post by gbduo)
Ummm, you are assuming the insurance company will pay a fair price or the sum of the finance remaining. Given depreciation, this is not always a certainty therefore leaving you in a position whereby you will still have to make up the debt.
No, not at all, re-read, as far as the insured sum provides.. Which means, like you say, that may well result in a shortfall, I was more just pointing out that the payout doesnt go to the owner with a massive loan looming.. But also worth noting that if the car has depreciated in two years, you would've paid off a significant amount if it's say a three year loan, chances are that the shortfall isn't too sizable if you don't rack intergalactic miles etc. Plus there are products such as gap insurance on a brand new car which can be worthwhile in cases.
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