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Car Loan: Change of Registered Owner

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  • 14-02-2017 7:53pm
    #1
    PurpleWaldo
    Registered Users Posts: 2 ✭


    So a relative of mine who lives in France has bought a car here in Ireland for me. She has an Irish bank account and bought it on a car loan from the bank. But she is not going to drive it, I am. The only way we can get insurance on it is if it is registered to me (as she lives in France). So my question is: can she transfer ownership of it to me whilst still maintaining payments on the loan herself??? Thanks. Car insurance etc is a pain!
    Tagged:


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    #2
    Cee-Jay-Cee
    Registered Users Posts: 12,235 ✭✭✭✭Cee-Jay-Cee


    Yes of course she can. As the car is being financed by a bank loan then it doesn't make any difference who the car is registered to so long as she continues to make the loan repayments then there's no problem.


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    #3
    vandriver
    Registered Users Posts: 3,462 ✭✭✭vandriver


    PurpleWaldo wrote: »
    So a relative of mine who lives in France has bought a car here in Ireland for me. She has an Irish bank account and bought it on a car loan from the bank. But she is not going to drive it, I am. The only way we can get insurance on it is if it is registered to me (as she lives in France). So my question is: can she transfer ownership of it to me whilst still maintaining payments on the loan herself??? Thanks. Car insurance etc is a pain!
    Depends!
    Was it financed on lease, PCP or HP ?
    Or just a bog standard car loan?


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    #4
    PurpleWaldo
    Registered Users Posts: 2 ✭PurpleWaldo


    Thanks both. HP it was.


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    #5
    mgbgt1978
    Registered Users Posts: 4,231 ✭✭✭mgbgt1978


    AFAIK if it's HP the car technically belongs to the lender until a certain percentage (50% ???) is paid off.


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    #6
    bazz26
    Registered Users Posts: 51,239 ✭✭✭✭bazz26


    If the loan goes bad and there is more than 50% still owing on the HP finance then it makes no difference who's name is on the registration cert as it will still be the bank's property to seek repossession of.


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