AIBU to not do this

[Sycamoretreat]

Hi,

DH has a best mate who is quite recently divorced and rebuilding his life- lovely guy.

he needs a new car but can’t get finance so he’s asked DH to take the finance in his name.

im dead against it but DH thinks I’m being unfair. AIBU

Mine would be an exH if he did that without my agreement

Hell no!!
There's a massive reason that he can't get finance in his own name, because his credit is down the pan!! If banks or finance won't give him a loan for a car because he can't pass the threshold for being able to pay it back, why does your hubby think he could pay him back??

I've lent close friends money in the past or paid for things for them and after a couple of payments they stopped paying and muggings here had to finish paying for it. Just don't do it. It's not worth the stress or hassle.

Definitely don’t do this! He might be a genuinely lovely guy, but there must be a reason why he can’t get finance. Maybe he hasn’t tried everywhere, or maybe he just doesn’t fancy paying a high interest rate. If he only needs a few hundred quid it might be ok, but any more than that is too risky. Plus, as others have said, it’s not really legal.

I will add though, those saying he can use public transport, maybe there isn’t any - I have to drive to work as I wouldn’t be able to get there otherwise. My sister doesn’t drive and had to give up a job when the office moved locations and there were no buses. So he might have a legitimate reason to need a new car - maybe his ex-wife kept the family car in the divorce. And “new” car doesn’t necessarily mean brand new, just new to him.

But no, don’t do it!

Make your DH watch half a dozen programs of Judge Judy, one of them will be a scenario precisely like this where the friend (your DH) is suing his former mate for his money back!

No don't do it.
I love my friends but I'd never ever put myself in a situation that I owe a large amount of money for them.
There will be other ways the friend can do it.
Stand your ground tell your partner that it's nice to want to help mates but not when you both could be liable for paying for the car.
Personally if he decides to go ahead for me it's a red flag.

Absolutely not my DH had a leech of a friend and he had thousands off him with the promise to repay and never has.

If he absolutely insists ensure he takes the Gap insurance because if he defaults and write off the car and the insurance doesn’t pay out new for old (most don’t) then you’ll take the debt and have no car.

Also give him the scenario of who is going to legally own the car? If your DH then his friend will struggle to insure it, again your DH will have to insure it and friend be a named driver. If he then has a bump or theft, your husband would have to declare it for 5 years on his insurance. He also isn’t likely to be able to use his NCB to insurance so they’ll have to insure it from 0 NCB. (My DH is a motor insurance mgr)

If the friend legally owns it (can they? I’m not sure if financed by someone else that’s not a spouse) then what collateral has your DH got?

Friend surely has family who can help? I’d even begrudge my own family this I’m afraid.

It could impact the rest of your lives if he fails to pay.
Just no.

Woah!! Absolutely no way. That’s a massive red line and there’s no way I’d cross it.

It’s the person buying the cars responsibility to fund it. If they can’t afford it then unfortunately they can’t have it. It’s unfair to ask someone else to do this. I wouldn’t be comfortable at all if someone else took on debt for me in their name. It would make me physically sick. Very irresponsible!