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I have a car which i have on finance at present. My mum was a guarantor for me and the finance went through ok. I now want a new car and to settle the debt i have on it now would be just a little over £2k.

After my mum went to the garage they said she would need to have the car in her name. The garage told me wen i was there that they would give me £1000 for a renault clio 1.5 dci and pay my debt off that car.

now! haha heres the tricky part.


The log book for the clio is in my name but my mum is the guarantor on it. now for the new one it would go in her name. Can they still write off the debt on the clio and transfer it to a car which will be in my mams name? but because im the log book for the clio and cant transfer that to my mum. Is there a way that i can put my mum to be with the debt on the clio and then get the new car in her name? or would they accept the money and wipe the debt off, even if the new cars finance is my mums name



Help plz :(

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If I understand correctly the garage is offering you a value of about £3,000 for your current Clio; made up of them paying off the £2000 debt and giving you £1,000 towards the cost of the newer car?


The Clio is in your name on the V5 but the new car will be in your mother's name on the V5.


There should be no problem as far as the garage is concerned because in effect two transactions are separate.

(1)They have agreed to buy the Clio off you and

(2) they have agreed to sell the new car to your mother.


How the money moves around within their accounts is simply that; an accounting function.


Many garages "buy cars for cash" whereby you can simply ask them to buy your car off you and not purchase a new car from them. (granted under these circumstances you usually get a Sh!t price for your car which shouldn't happen in this case coz their "purchase" of your car is directly linked to a car sale)

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yes thats correct.. so just so i have it correctly from your very good self thank you for replying too...

is that possible for them to buy the car from the finance company i am with now to wipe the debt clean, but they can add the finance to the new car in my mums name?


Sorry im so blonde :( hate talking about cars n finance haha.


But you have the jist of it from the top.

Edited by geordieminxx
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