PCP car owner/driver question

Bandy2023

Hi, all
I've 'bought' a car on PCP for my wife.
I essentially want it to be her car, any fines going to her and insurance in her name (with me as named driver).
How do I go about this?
When I get the V5, can I then transfer it into her name so she would then be declared as the owner?

DullGreyGuy

v5 says who the registered keeper is not who the owner is. The owner is typically the finance company until such time as you pay the balloon at the end of the PCP loan. 

Did you tell the finance company that the car is for your wife and not you? Many won't lend to anyone other than the proposed main user of the car, though they can be more relaxed with spouses. 

You need to speak to the finance company about your proposal to change the registered keeper to your wife. 

Car_54

You probably wont get the V5C. The finance companies typically register themselves as RK.

Ayr_Rage

Car_54 said:

You probably wont get the V5C. The finance companies typically register themselves as RK.

I don't think that is correct, the finance company is the owner but the registered keeper should always be the user on a PCP/HP contract.

Arunmor

Why did you not put it in her name right from the off?  Speak to the finance company.

Car_54

Ayr_Rage said:

Car_54 said:

You probably wont get the V5C. The finance companies typically register themselves as RK.

I don't think that is correct, they finance company is the owner but the registered keeper should always be the user on a PCP/HP contract.

Well, we regularly see cases on Pepipoo where people are sure they're the RK, but then find otherwise.

DullGreyGuy

Car_54 said:

Ayr_Rage said:

Car_54 said:

You probably wont get the V5C. The finance companies typically register themselves as RK.

I don't think that is correct, they finance company is the owner but the registered keeper should always be the user on a PCP/HP contract.

Well, we regularly see cases on Pepipoo where people are sure they're the RK, but then find otherwise.

Not hard to see if you have a copy of the V5c or not. I know I did for a PCP car

Bandy2023

Car_54 said:

You probably wont get the V5C. The finance companies typically register themselves as RK.

You definitely do get the V5 on PCP deals

Bandy2023

Arunmor said:

Why did you not put it in her name right from the off?  Speak to the finance company.

Because she's self-employed and applying for finance is a pain, whereas it's instant for me.

Bandy2023

DullGreyGuy said:

v5 says who the registered keeper is not who the owner is. The owner is typically the finance company until such time as you pay the balloon at the end of the PCP loan. 

Did you tell the finance company that the car is for your wife and not you? Many won't lend to anyone other than the proposed main user of the car, though they can be more relaxed with spouses. 

You need to speak to the finance company about your proposal to change the registered keeper to your wife. 

Just spoken with them, they won't put the car in her name.
I can deal with any issues of parking tickets / speeding ticket coming to me (unlikely), but what about insurance?
Should I insure it in my name with her as a name driver?
Or can I insure it in her name?

DullGreyGuy

Bandy2023 said:

DullGreyGuy said:

v5 says who the registered keeper is not who the owner is. The owner is typically the finance company until such time as you pay the balloon at the end of the PCP loan. 

Did you tell the finance company that the car is for your wife and not you? Many won't lend to anyone other than the proposed main user of the car, though they can be more relaxed with spouses. 

You need to speak to the finance company about your proposal to change the registered keeper to your wife. 

Just spoken with them, they won't put the car in her name.
I can deal with any issues of parking tickets / speeding ticket coming to me (unlikely), but what about insurance?
Should I insure it in my name with her as a name driver?
Or can I insure it in her name?

It's perfectly fine for her to insure it, she just needs to correctly declare who the registered keeper and owner is. The later is most likely the finance company.