Best owner of vehicle

user1977

lemondrops69 said:

AdrianC said:

TonyM19 said:

Is it better from an insurance point of view to keep the car with me as the owner or to transfer it into her name.  The car will still be mine.

"Should she tell the insurer the truth, or lie to them?"

OP isnt saying that at all, he said 'keep the car with me as the owner or to transfer it into her name'. Doesnt even come close to him saying should I lie, not sure how you got to that?

Because they then go on to say "the car will still be mine". It's not clear to me what they meant by that (even if it appears to be clear to others!).

Car_54

TonyM19 said:

Hi

I have a car that I am am going to let my 27 yo daughter drive - essentially I will be leasing it to her.  She lives about 30 miles away.  It's a long complocated story why we are setting up this arrangement. Is it better from an insurance point of view to keep the car with me as the owner or to transfer it into her name.  The car will still be mine.  Just wondering if she could save a few bob on her insurance.

If there's anything else I'm missing with this set up, I'd be grateful to hear about it now

Cheers

OP, your own insurance covers you for Social Domestic etc. It doesn't cover a leasing business.

AdrianC

lemondrops69 said:

AdrianC said:

TonyM19 said:

Is it better from an insurance point of view to keep the car with me as the owner or to transfer it into her name.  The car will still be mine.

"Should she tell the insurer the truth, or lie to them?"

OP isnt saying that at all, he said 'keep the car with me as the owner or to transfer it into her name'. Doesnt even come close to him saying should I lie, not sure how you got to that?

Because if he is remaining as the OWNER, then that is the correct answer when the insurer asks who the owner is.

If it's the keepership, then that's different - and explicitly stated as such on top of the V5C.

lemondrops69

AdrianC said:

lemondrops69 said:

AdrianC said:

TonyM19 said:

Is it better from an insurance point of view to keep the car with me as the owner or to transfer it into her name.  The car will still be mine.

"Should she tell the insurer the truth, or lie to them?"

OP isnt saying that at all, he said 'keep the car with me as the owner or to transfer it into her name'. Doesnt even come close to him saying should I lie, not sure how you got to that?

Because if he is remaining as the OWNER, then that is the correct answer when the insurer asks who the owner is.

If it's the keepership, then that's different - and explicitly stated as such on top of the V5C.

But from experience on here lots of ppl relate ownership to the V5C., you know that and know what he meant, Chuck. 

BOWFER

user1977 said:

lemondrops69 said:

AdrianC said:

TonyM19 said:

Is it better from an insurance point of view to keep the car with me as the owner or to transfer it into her name.  The car will still be mine.

"Should she tell the insurer the truth, or lie to them?"

OP isnt saying that at all, he said 'keep the car with me as the owner or to transfer it into her name'. Doesnt even come close to him saying should I lie, not sure how you got to that?

Because they then go on to say "the car will still be mine". It's not clear to me what they meant by that (even if it appears to be clear to others!).

It strikes me the daughter can't get the finance herself, so the OP is taking the car in his name and then she's paying him.
Which is why I put my earlier post, this is potentially a very dodgy thing to do and if the finance company finds out he's in trouble.

pogofish

Look-up "Fronting" and see if you still want to risk it.

Jenni_D

As referenced earlier, there is no record of previous owners - just previous keepers.  

BOWFER

Ibrahim5 said:

I bought a car which we then transferred to my wife and back again to myself. I think we thought it was simpler for insurance purposes. When you come to sell it doesn't look as good with 3 previous owners as compared with one. Sold it privately so explained the situation but it's generally better to keep the number of owners down.

I've bought and sold quite a few cars over the past few years, so much so that FB marketplace started accusing me of being a dealer. 
Put it this way, our daughter was on her 4th car before she even started driving, I just enjoy buying them, doing them up, selling and starting again.
I can honestly say no-one has asked about how many previous owners the cars have had, hasn't even come into the conversation.
The evidence to me is that no-one really cares if they like the car.

Car_54

BOWFER said:

Ibrahim5 said:

I bought a car which we then transferred to my wife and back again to myself. I think we thought it was simpler for insurance purposes. When you come to sell it doesn't look as good with 3 previous owners as compared with one. Sold it privately so explained the situation but it's generally better to keep the number of owners down.

I've bought and sold quite a few cars over the past few years, so much so that FB marketplace started accusing me of being a dealer. 
Put it this way, our daughter was on her 4th car before she even started driving, I just enjoy buying them, doing them up, selling and starting again.
I can honestly say no-one has asked about how many previous owners the cars have had, hasn't even come into the conversation.
The evidence to me is that no-one really cares if they like the car.

I tend to agree.. A car may only have one previous keeper, but you don't know whether that was a retired vicar or Bob's Rent-a-Wreck.

TonyM19

BOWFER said:

user1977 said:

lemondrops69 said:

AdrianC said:

TonyM19 said:

Is it better from an insurance point of view to keep the car with me as the owner or to transfer it into her name.  The car will still be mine.

"Should she tell the insurer the truth, or lie to them?"

OP isnt saying that at all, he said 'keep the car with me as the owner or to transfer it into her name'. Doesnt even come close to him saying should I lie, not sure how you got to that?

Because they then go on to say "the car will still be mine". It's not clear to me what they meant by that (even if it appears to be clear to others!).

It strikes me the daughter can't get the finance herself, so the OP is taking the car in his name and then she's paying him.
Which is why I put my earlier post, this is potentially a very dodgy thing to do and if the finance company finds out he's in trouble.

I own the car.  It is mine.  It has no finance on it.  I'm letting her drive it and keep it at her house.  She will declare that I am the owner when applying if that will give her a cheaper insurance.  If not, I will transfer the car to her.  The car will technically be mine regardless of who is the owner.  It's my daughter and I'm helping her out.  Some of you are looking at this from a very cynical point of view.