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Topic starter
24/09/2020 11:24 am
Hi
I have been learning to drive and I wondered if a relative was to buy a cheap runaround car for me (eg value £1000) if this would be ok during my trust deed? My insurance and fuel costs wouldn't be any more than I currently pay for public transport.
Thanks
24/09/2020 1:54 pm
Hi Ksm00009.
I doubt this will cause you any problems with your trust deed.
The safest way is probably for the purchaser (your relative) to retain ownership of the vehicle. This doesn't stop them from lending the car to you, and it doesn't stop you from being the registered keeper of the vehicle. Being the owner and being the registered keeper aren't always the same thing.
You could also run the scenario by your trustee if you want some extra reassurance.
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Topic starter
24/09/2020 2:00 pm
Thanks for your help that's great 🙂
30/09/2020 12:22 pm
Hi Ksm
No this wont present any issues.
You are allowed a vehicle up to the value of £3k
p
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