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 My parents took out car finance for me last year
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liz2
Starting Member



2 Posts

Posted - 07 March 2010 :  12:37:48  Show Profile  Reply with Quote
My parents took out car finance for me last year and I have paid the payments, a car is essential for my work. Can I claim this cost in my expenditure?

gettingoutofdebt
forum expert



2418 Posts

Posted - 07 March 2010 :  12:43:32  Show Profile  Reply with Quote
If you name is on the V5 document then you will be the registered owner of the car so will be able to claim for things like petrol, tax, insurance, etc. however you won't be able to claim for the car finance as this is your parent's debt and not yours.

There is nothing stopping you paying them out of any money left over after you have paid your IPA if you get one.
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