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Harris
Harris, Family Law Expert
Category: Family Law
Satisfied Customers: 2848
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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Over one year separated and in the process of a difficult

Customer Question

Over one year separated and in the process of a difficult divorce.He kept the family car, and I need one to go to work as I have been renting until now, but it's just too expensive.Can I buy a car on finance with no deposit, with the money I'm earning from my employment before divorce is finalised?
I'm thinking on a £10,000 range financed for 60 months with none or little deposit.
Or will this affect my settlement?Many thanks,
Submitted: 1 year ago.
Category: Family Law
Expert:  Harris replied 1 year ago.

Hi, thank you for your question. If the car is a necessary item and you are not intentionally seeking to have it to impact the financial settlement, then the court will likely agree that it is a reasonable expense.

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Harris and other Family Law Specialists are ready to help you
Customer: replied 1 year ago.
Manny thanks,
I wonder if it would still be considered a matrimonial asset even if I don't pay a deposit, or pay from my account where the work income comes from.
Expert:  Harris replied 1 year ago.

As it would be on finance, it is not an asset that you own as you are leasing it. If it is not in your name or you are not paying for it then it cannot be disclosed as one of your outgoings

Customer: replied 1 year ago.
Sorry I was't clear, I will be paying for it for 60 months and I think the car will be on my name when I sign the contract
Expert:  Harris replied 1 year ago.

In that case it is an expense that needs to be disclosed as part of your needs.

Customer: replied 1 year ago.
Many thanks
Expert:  Harris replied 1 year ago.

No worries, I hope it goes well. If you have any questions in the future you can ask for me directly by starting your question For Harris