Joint ownership for my twins first car

ieb688

Hi, we are looking to buy a car for my twins to share, I have been told by a family member in the motor trade that he made a reg place up for a car and the V5 was in joint names, but every where I look I get a no, if anyone out there can advise me on a similar situation I would be most Appreciative of this.
thank you in advance 😬.

DUTR

They can both use it, one main registered keeper though, it's obvious joint registration can introduce future complications.

ontheroad1970

Registering it to yourself but keeping insurance companies in the loop as to who drives it will be the least rocky way of dealing with this I suspect, even though the registered keeper is not the registered owner.  Might save some potential arguments 

macman

As above, the name on the V5 has nothing to do with legal ownership, it's simply to identify the registered keeper. You can't send a speeding ticket NIP to two people...

32Battalion

Register it in your name I can see a shared car becoming a bone of contention fairly quickly unless they socialise together even then life could get tricky.

pramsay13

How about a car that is half as good for each of them?

tacpot12

macman said:

As above, the name on the V5 has nothing to do with legal ownership, it's simply to identify the registered keeper. You can't send a speeding ticket NIP to two people...

This is correct. In the UK there is nowhere that joint ownership of a vehicle can be formally registered. Your only option if you want to prove you jointly own a vehicle to get a receipt from the seller that shows that the car has been bought and paid for by more than one person. 

waamo

Have one of them as the registered keeper. Get them both to sign an agreement that it is jointly owned. 

williamgriffin

Unless you're gong to take out two insurance policies, do you have a favourite twin who will build up the no claims bonus?

AdrianC

williamgriffin said:

Unless you're gong to take out two insurance policies, do you have a favourite twin who will build up the no claims bonus?

They could alternate - NCB "lives" for two years between policies. But, of course, they'll each only build it half as fast.

Dr_Crypto

Perhaps the easiest thing is for the parent to be the owner and RK. Insurance in one of the twin’s names and the other as a named driver (and perhaps the parents too assuming they drive it). Could alternate the twin who runs the policy so they both build a NCB albeit slowly.