But there isn’t a difference in liabilities.
Employed ‘Husband’ earning 100k a year with good credit rating.
‘Housewife’ who is unemployed and cannot get finance.
‘Husband’ takes out the finance deal and accepts all liabilities.
If anything goes wrong you pursue ‘Husband’ in court for costs.
Employed ‘Friend #1’ earning 100k a year with good credit rating.
‘Friend #2’ who is unemployed and cannot get finance.
‘Friend #1’ takes out the finance deal and accepts all liabilities.
If anything goes wrong you pursue ‘Friend #1’ in court for costs.
The person signing the contract takes on all the responsibility. Whoever drives it is irrelevant as long as they are correctly insured.
It’s stupid of Friend #1, and you may not ‘like’ it, but there is nothing wrong with it.