ok so i want to get my mum a new car on pcp finance. at the moment she just has an old car so she would be trading that in. The idea is that it will be a surprise, so i'd have it all set up & approved before hand with me taking care of payment, she'll just pick up the new car & trade in her current one.
I have a few queries regarding the process though.
I want the monthly payments to come directly from my bank account.
She will be the main driver on the insurance policy (i might be on as a second driver)
Since the payment is coming from my account would the finance be applied for under my name?
How does it stand as to who is the legal owner/registered keeper? - even if i am insured on the car it's only occasionally i'd use it, so I feel my mum should be the owner/keeper as she will use it 99% of the time but
As i said it's likely i'll be on the insurance as a second driver but I have my own car (which I own & isnt paid monthly) for which I am main driver insured & everything is in my name.
I heard things about how you can't really do this as for example if someone couldnt get finance someone else applies on their behalf or if they are really young etc where it'd probably be higher then someone else takes out the finance. But this is kinda the reverse case.
I have no issues if the finance were to go through my moms name (as there's not reason she wouldnt get) but would it still be able to come out my account directly then?
If anyone can help shed some more information. thanks