Car Insurance Query


I am just wondering whether or not I can get a little bit of advice, since I can't seem to get anything concrete online that I'm looking for.

Me and my partner are looking to get a car together costing around the sum of £16000, we aren't married but are happy to split the sum of 50%. The issue is the company we're looking to buy the car from whether it's company policy or not has to put the purchase invoice in who would be the registered keeper of the vehicle through the DVLA, so the invoice cannot be put into joint names. Now before we shut the idea totally, we have been looking at alternatives. We have thought about doing a Joint Ownership agreement via a solicitor to legally pass 50% of the vehicle over to the partner, so it becomes joint ownership. But I was just wondering whether there was any alternatives to this? 

Also, if we do a Joint ownership agreement via a solicitor, would we need to declare this? Or could we both setup separate insurance policies confirming we're the owners of the vehicle, which would be technically true.



  • user1977
    user1977 Forumite Posts: 11,761
    10,000 Posts Fifth Anniversary Name Dropper Combo Breaker
    What makes you think you need a solicitor to draft something formal? Cars don't usually change ownership with lawyers involved - you can transfer 50% ownership with a handshake / kiss / agreement scrawled on the back of a fag packet etc.
  • flashg67
    flashg67 Forumite Posts: 3,916
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
    A signed and witnessed agreement on paper would probably be sufficient - the registered keeper on the V5c is not necessarily the legal owner
  • mgfvvc
    mgfvvc Forumite Posts: 1,094
    Part of the Furniture 1,000 Posts Name Dropper
    The registered keeper at the DVLA is just the person who will receive vehicle tax renewals, NIPs , etc. It does not record ownership.
  • DullGreyGuy
    DullGreyGuy Forumite Posts: 6,299
    1,000 Posts First Anniversary Name Dropper
    could we both setup separate insurance policies confirming we're the owners of the vehicle, which would be technically true.
    Setting up 2 policies on the same vehicle will not be cost effective and introduce potential problems at the point of claim. You most likely will have to ultimately declare one person as the owner on the insurance, cant recall seeing people giving the option of identifying multiple owners, but it wont cause any issues.
  • baser999
    baser999 Forumite Posts: 848
    Part of the Furniture 500 Posts Name Dropper Combo Breaker
    Significant Other and myself (not married) have jointly funded our recent car purchases and my names on the V5. As a consequence the tax reminders come to me and as a consequence I pay it . Similarly I deal with the insurance declaring myself as main owner/driver (which I am) and SO as second named and pay that as well. The question of the vehicle ownership has never been an issue.
    Note to self - think about getting SO to contribute towards tax and insurance 😂
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