Hopefully you'll get a definite from one of the experts soon, my understanding is it has to be below £3k at the beginning or you can be asked to make arrangements to pay the equivalent amount over £3k so £2k if your car has a £5k value when you enter the trust deed. I'm pretty sure it's to be paid at the end by an extension or by selling the vehicle or otherwise raising the amount.

Hello Chillypink.

The threshold that applies in trust deeds currently is a valuation figure of £3,000.

You may want to confirm the position regarding your car and whether it will be viewed as an "asset" with your trustee.

Hi Chillypink,

As RBSB has advised a car worth more than £3,000 at the conclusion of a Trust Deed can be treated as an asset and you can be asked to pay the difference over.

I'd contact your Trustee and ask for them to confirm in writing the position with the car and if it's anything less than £5,000 or £3,000.

Let us know how you get on.