If discovered, lenders may terminate the agreement, demand immediate full repayment, or repossess the vehicle, which can severely damage your credit score. 2. Legal Alternatives for Parents
While you can help your son acquire a vehicle, directly taking out a finance agreement in your name for his exclusive use is generally prohibited by lenders and can be legally risky. 1. The Legal Challenge: "Fronting" can i buy a car on finance for my son
Most standard finance agreements (PCP or HP) mandate that the person signing the contract must be the registered keeper and the primary driver. If discovered, lenders may terminate the agreement, demand
Taking out car finance in your name when your son will be the main driver is often considered lenders may terminate the agreement