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Just bought a new car and my husband is doing the finance the delaership without asking automatically put him as registered owner and keeper of car. (current car is being financed by him but I am registered owner and keeper) Does this have implications for insurance? I will obviously tell them its been done like that but can i still be insured as main driver ...which i will be as my husband has his own car. Can they change it to my name or are we stuck with it in his?
Edited by Pugugly on 28/09/2009 at 22:26
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Don't quote me on this, as I am not an expert, but:
ownership: husband and wife can transfer ownership of property between each other quite easily.
registered keeper: once registerd at DVLA, any changes made will most likely mean a new addition to the list of previous keepers.
insurance: AFAIK, most insurance companies ask that policyholder or the spouse/partner is the owner and/or keeper Additionaly, if the main driver is other than the policyholder, you should declare that.
Your best bet is to try to resolve the issue at source with the dealership before it becomes a real problem. If it cannot be undone, then ask someone senior at your insurance company for guidance.
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Leave it as is, he will get the speeding tickets......;)
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Both my cars are registered in my name, but one is insured by SWMBO as policyholder and main driver (she is).
Some insurance companies won't quote though.
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thanks for you replies, spoke to dealership and insurance company this morning and they said.........re registration...by law has to be registered in same name as person who is financing it, however when registration docs come through we can change it and it won't affect no of poeple who owned car (ie won't say its had 2 owners when in fact its just had 1)
Insurance company ...HSBC through Swinton....who have been fab! Said my particular policy allows cars to owned by spouses (have to be related by marriage or I think parents by all accounts) but for me to be main driver and its no prob at all! Some companys may charge a premium but not them. They took 2mins to change owner and keeper to hubby and said they will happily amend it back to me once we have changed registration docs. Gives me faith that at least someone out there is not trying to rip me off!!
so is allll good get to pick my brand spanking new fiesta titanium up with no worries!
SQ
Edited by Dynamic Dave on 29/09/2009 at 11:21
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IIRC, the V5 states the Registered Keeper - which is not necessarily the owner of the vehicle.
If buying through a hire-purchase agreement, the finance company owns the vehicle right up to the moment the last payment is made - but the V5 'registered keeper' will show as the individual responsible for the vehicle.
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IIRC, the V5 states the Registered Keeper - which is not necessarily the owner of the vehicle.
Indeed. There is no register of owners. More than that, the Registered Keeper is not necessarily "the person keeping the vehicle". That could be somebody else and it becomes relevant when some offences are alleged. However, I digress.
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dealership said......... we can change it and it won't affect no of poeple who owned car (ie won't say its had 2 owners when in fact its just had 1)
You believed them?
To misquote Mandy Rice Davies, "they would say that, wouldn't they".
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