PCP insurance question / help

meat_n2_reg

Hello 
Just bought my first new car via PCP ( wanted to pay cash but got extra £1000 by selecting PCP) 
I have the savings to pay car off in full and will do I right to withdraw as soon as I pick car up 
Question is about insurance 
As I understand I will be the registered keeper , however finance company will be registered owner until I settle finance ?
When I pick car up I will have to have insurance in place with me as registered keeper and registered owner as private leased ?
Then once I have settled finance change insurance so that I am now registered owner ?

Have I got the above right ?

Many thanks 

TadleyBaggie

There is no such thing as registered owner, the finance company is simply the owner (until the finance is paid off).

mark5

Its not a private lease your buying the car on finance, lease is when your never the registered keeper and its like a long term rental. 

I’ve bought a few cars on pcp and always said I’m the owner to insurance companies.

Ayr_Rage

mark5 said:

Its not a private lease your buying the car on finance, lease is when your never the registered keeper and its like a long term rental. 

I’ve bought a few cars on pcp and always said I’m the owner to insurance companies.

The finance company is the owner until the PCP contract ends so you should declare them as the owner on any insurance.

DullGreyGuy

meat_n2_reg said:

Hello 
Just bought my first new car via PCP ( wanted to pay cash but got extra £1000 by selecting PCP) 
I have the savings to pay car off in full and will do I right to withdraw as soon as I pick car up 
Question is about insurance 
As I understand I will be the registered keeper , however finance company will be registered owner until I settle finance ?
When I pick car up I will have to have insurance in place with me as registered keeper and registered owner as private leased ?
Then once I have settled finance change insurance so that I am now registered owner ?

Have I got the above right ?

Many thanks 

Isnt the car coming with 7 days free insurance? That would allow you to start your policy after you've canceled the PCP and have you as owner and keeper from the inception else you'd buy as keeper and finance company the owner but then have to do a mid term amendment to change the owner after paying off the PCP