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  • FIRST POST
    • mutley74
    • By mutley74 19th Apr 17, 3:57 PM
    • 3,678Posts
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    mutley74
    Car Registered /owner on insurance
    • #1
    • 19th Apr 17, 3:57 PM
    Car Registered /owner on insurance 19th Apr 17 at 3:57 PM
    Hi
    if I take out a finance package on replacement car. I understand RCI Financial Services Limited will be legal owner, and I will be the registered keeper.


    When I did a new insurance quote for this, I get prices around £50 higher than if I was both Registered /owner. Is this usual for cars taken on finance?


    I only need the finance deal for around 4 months as the dealer is giving me a further discount deal vs no finance (finance discount deal is a very good offer).
Page 1
    • Quentin
    • By Quentin 19th Apr 17, 5:12 PM
    • 32,808 Posts
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    Quentin
    • #2
    • 19th Apr 17, 5:12 PM
    • #2
    • 19th Apr 17, 5:12 PM

    I only need the finance deal for around 4 months as the dealer is giving me a further discount deal vs no finance (finance discount deal is a very good offer).
    Originally posted by mutley74
    Prepare for more cost at 4 months when you have to tell your insurer about the change in ownership!
    • mutley74
    • By mutley74 19th Apr 17, 8:15 PM
    • 3,678 Posts
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    mutley74
    • #3
    • 19th Apr 17, 8:15 PM
    • #3
    • 19th Apr 17, 8:15 PM
    Prepare for more cost at 4 months when you have to tell your insurer about the change in ownership!
    Originally posted by Quentin
    will it not be just the admin fee, with +/- cost to change ownership? so far quotes have been higher for me with finance co ownership.
    • Quentin
    • By Quentin 19th Apr 17, 8:24 PM
    • 32,808 Posts
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    Quentin
    • #4
    • 19th Apr 17, 8:24 PM
    • #4
    • 19th Apr 17, 8:24 PM
    Yes. Expect at least an admin fee ( though some insurers do some mid term changes without admin fee if done online)
    • mutley74
    • By mutley74 20th Apr 17, 7:05 AM
    • 3,678 Posts
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    mutley74
    • #5
    • 20th Apr 17, 7:05 AM
    • #5
    • 20th Apr 17, 7:05 AM
    Does the finance company classed as 2nd owner when I come to sell the car? (and I will be 3rd?)
    • Quentin
    • By Quentin 20th Apr 17, 7:51 AM
    • 32,808 Posts
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    Quentin
    • #6
    • 20th Apr 17, 7:51 AM
    • #6
    • 20th Apr 17, 7:51 AM
    Probably, but you normally wouldn't refer to it.

    You will be the sole keeper as far as the docs are concerned!
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