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PCP and registered keeper

Phil-1 Sep 28, 2019

  1. Phil-1

    Phil-1 Well-Known Member Regional Rep

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    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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  3. Adam14

    Adam14 Well-Known Member Team Glacier Team V6 Audi S5 Coupe

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    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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  4. SaraS3

    SaraS3 Member

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    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.
     
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  5. Rich76

    Rich76 Well-Known Member TFSI Owners Group Team Phantom S-line owners group Audi A4

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    Yep when I was a salesman the name on the finance and v5 had to be the same
     
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  6. Phil-1

    Phil-1 Well-Known Member Regional Rep

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


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  7. El-Cap

    El-Cap New Member

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    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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  8. Rich76

    Rich76 Well-Known Member TFSI Owners Group Team Phantom S-line owners group Audi A4

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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
     
  9. MCarda

    MCarda Member TFSI Owners Group Team Tango S-line owners group Audi A6 Audi Avant Owner Group S tronic

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    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.
     
  10. Phil-1

    Phil-1 Well-Known Member Regional Rep

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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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