PCP and registered keeper

Phil-1 · Sep 28, 2019

Hi. My daughter is wanting to buy her first car. I’ve said I would put my name down on the paperwork for a PCP plan or loan but will she be able to register the car in her name and will she still be able to get the free insurance deal?

I don’t have any experience with PCP

Thanks

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Adam14 · Sep 28, 2019

I'd have thought if you're sorting the finance it doesn't matter, as I understand it she can be the registered keeper regardless of who's paying for the car. I don't know for certain as never had the need to do that, why don't you just ask the dealer?

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SaraS3 · Sep 28, 2019

I was going to do something similar (to get the offers etc but was going through a divorce and I didn't want finance/debt in my name) but the merc garage said the person on the pcp plan had to be the registered keeper on the v5 so ended up buying cash. I'm sure someone who has done pcp will be along to tell you more or the garage will tell you.

Rich76 · Sep 28, 2019

Yep when I was a salesman the name on the finance and v5 had to be the same

Phil-1 · Sep 28, 2019

She’s wanting a A1 and only just finishing Uni and having her first job she has low credit score

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El-Cap · Sep 28, 2019

With any car the owner does not have to be the registered keeper. The two can be different and often are. One common example is when the car is financed - in such a case the financier is the owner and the registered keeper is, well the keeper!

Hence why with the PCP you can’t be the owner and your daughter the keeper. If you bought the car with your own money and wished to be the owner that would be fine but with the finance you can’t be.

However you can be the register keeper and not be the principle insured party so that may be an option. Don’t however be the insured main party if your daughter is the principal user as that is ‘fronting’.

Hope that helps.

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Rich76 · Sep 29, 2019

Phil-1 said:
She’s wanting a A1 and only just finishing Uni and having her first job she has low credit score

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Speak to vwfs finance, it may be that you can do a joint application I know we used to do them at Mazda

both of you named on the finance but the car is in her name, payment from her bank account , 2nd name just helps with the credit but is NOT a guarantor

MCarda · Sep 29, 2019

Rich76 said:
both of you named on the finance but the car is in her name, payment from her bank account , 2nd name just helps with the credit but is NOT a guarantor

Your name on the shared finance would help get it approved and her name will also get a healthy boost for her credit score - win/win.

Phil-1 · Sep 29, 2019

El-Cap said:
With any car the owner does not have to be the registered keeper. The two can be different and often are. One common example is when the car is financed - in such a case the financier is the owner and the registered keeper is, well the keeper!

Hence why with the PCP you can’t be the owner and your daughter the keeper. If you bought the car with your own money and wished to be the owner that would be fine but with the finance you can’t be.

However you can be the register keeper and not be the principle insured party so that may be an option. Don’t however be the insured main party if your daughter is the principal user as that is ‘fronting’.

Hope that helps.

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Thanks.
She will be the main driver and insured accordantly.
Might look at buying it in my name then and get the insurance in her’s that way she will get some no claims bonus.

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PCP and registered keeper

Phil-1

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Rich76

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Phil-1

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MCarda

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