In early February 2023, the UK government published a warning against the ‘cestui que vie trust’ car insurance scam. If you have been approached by anyone claiming to sell car insurance under the banner of a ‘cestui que vie trust’, or others offering false information on how to claim from these fictitious funds, be aware that this is a fraudulent scheme.

What is the ‘cestui que vie trust’ scam?

‘Cestui que vie’ is a French phrase meaning ‘he who lives’ and is a legitimate legal term with a long history. The term refers to an individual who is a beneficiary with rights to property in an estate. It’s most frequently used in life and health insurance policies. Similarly, a ‘cestui que trust’ is an archaic but legitimate phrase referring to the beneficiary of a trust.

A ‘cestui que vie trust’ appears to be an amalgamation of the two terms, but it is entirely fraudulent – it does not exist. There are fraudsters currently claiming to sell car insurance backed by government funds. They advise individuals to claim money from the government using this imaginary ‘cestui que vie trust.’ No such funds are available from the government.

Should you purchase this fraudulent insurance, you will be classed as driving without insurance. This is illegal and risks fines, court appearances and vehicular seizure by the police.

If you or anyone you know has been the victim of the ‘cestui que vie trust’ car insurance scam, report it to Action Fraud or call 0300 123 2040.

Find a car finance provider you can trust

Looking for car finance for your next vehicle? Check your car finance eligibility and discover how My Car Credit can help you take to the road in a new or nearly-new set of wheels.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating

Excellent

  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed

Good

  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs

Fair

  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit

Poor

  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past

Bad

  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan
£

X monthly repayments of
£X

Typical rate

Loan amount

Total payable

X% APR*

£X

£X

*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!