Hi,

I'm hoping that someone might be able to help here.

My wife bought a new car from a broker back in June on Hire Purchase, something we haven't done in a while.

She only involved me in the purchase here and there and so I've only just stumbled upon this information, but I questioned her as to where the V5 was as we needed to apply for a Crit'Air sticker.

It turns out she hadn't received one.

She chased up the V5 and was told by the dealer that for the first year they are the registered keeper,

but on the 1st year anniversary it will change to her.

I've gone back through the paperwork she signed and it clearly states that she is the registered keeper and they are the owner until the final payment has been made - which I believe is normal.

I'm a bit confused because I'm sure she should be the registered keeper as its a purchase and not lease.

Is this common practice?

Thanks in advance

the registered keeper is not necessarily the owner of the vehicle.

the registered keeper is not necessarily the owner of the vehicle.

Thanks for replying dx100uk

I am aware that the registered keeper might not be the owner, but at this point she seems to be neither.

I suppose what I'm trying to ask is that when someone buys a new car on finance is the V5 supposed to be in the name of the broker or the person who is buying a new car?

Looking at this from a DVLA perspective,

if she was now to go and get a speeding ticket it would go to the broker, instead of her.

From a Car Insurance perspective, who is the registered keeper?

Has she bought a car or is she 'borrowing' a car?

If the contract paperwork says that she is the registered keeper why has the broker not put it in her name?

Is this is common practice for a broker to do?

Btw, I say broker because apparently you can buy or lease any car through the company.

They don't appear to have any affiliation with a particular brand.

Thanks again

well if they want to pay the tickets....

pers id be pointing this out to them

and the fact that they don't lose ownership even if they do.

the finance company own the car anyway as you've pointed out.

dx

well if they want to pay the tickets....

 

pers id be pointing this out to them

and the fact that they don't lose ownership even if they do.

 

the finance company own the car anyway as you've pointed out.

 

dx

Fair enough. I know that she has tried to call them today, but just says its ringing out which is a great help in situations like this.

Many thanks for your help

As an update and to close this off, my wife managed to get hold of the broker and now knows the reasoning behind it all.

Thanks for your help dx100uk

As an update and to close this off, my wife managed to get hold of the broker and now knows the reasoning behind it all.

 

Don't keep us in suspense! What is the reasoning?

I was wondering what the broker would do if the car got a parking charge notice and the broker received a 'Notice to Keeper'? They couldn't say who was driving at the time so presumably they'd be stuck with it

Don't keep us in suspense! What is the reasoning?

 

I was wondering what the broker would do if the car got a parking charge notice and the broker received a 'Notice to Keeper'? They couldn't say who was driving at the time so presumably they'd be stuck with it

Haha, apparently, so that the broker could give her a good deal (she got about £6k off RRP) she is leasing the car for one year and then its being transferred over to her name to continue the finance.

I'm still not entirely sure how it all works but at least we now know what the deal is.

Probably not the outcome you were expecting and neither was I to be honest.

How would that work with insurance?

She's not the owner nor the registered keeper but just a driver.

Can't get quotes online and without doubt insurance companies would rip you off more than usual.

How much did you pay?