I brought car for daughter : Owner v's Keeper ?

CliveOfIndia

A couple of clarifications.

First, "Owner" and "Registered Keeper" are very often different entities (it even says this on the V5).  Typical examples being if you buy a car on HP, the Owner is the finance company, the RK is you.  Or a company car driver - the Owner is either the company or their finance provider, the RK is the sales rep or whoever.  The RK is ultimately responsible for making sure the vehicle is taxed and insured, and will get any speeding tickets or whatever sent to them.

Secondly, when it comes to insurance, yes most insurers will put up the premiums a bit if the policy-holder is not the RK.  Usually it's not by very much at all, and in the case of spouses there's often no difference at all.

Thirdly, the garage saying they have to register the vehicle in the name of the person paying for the car - it's not unreasonable that that's their company policy, but it's not a legal requirement.

Ultimately it just makes things easier if your daughter is the RK, but it's not actually necessary.

Tiggy777 said:

My concern is when I now give the car to my daughter and put her details on the V5C form that will 'add' another owner, which I don't really want to do, as could effect resale value.  Is this how it works ?

A key question here is, how old is the car?  Or, more specifically, how many former keepers has it had?  If it's brand new then yes, another keeper may affect the resale value (though by how much is open to debate).  If it's an older car that's already had a few keepers, one more keeper will have a very tiny effect on its value.

Herzlos

Check with your daughters insurer if she needs to be the registered keeper. I used to be the main driver of a car owned by my dad at a different address and I think it only put my premium up by £10 which seemed better than adding a keeper to the V5.

It sounds like it's too late and the car is registered to you? If not can you orchestrate things so that your daughter is the one who buys it? i.e. taking out finance via bank loan rather than car finance and giving it to daughter to pay?

Tiggy777

Really appreciated the comments...thanks everyone. I

I spoke to DVLA and they said once l get the V5C form in my name l can write to them and explain it and they can correct without an impact on the number of owners.
I am a little concerned what to do in the interim as having my daughter as owner and keeper at her address.is reducing her insurance a few hundred pounds. 
I am risk adverse and don't want to put her at any issues in terms of getting the insurance wrong...although it's unfortunate that DVLC take so long to process:(

As before thanks for all the help and appreciate any comment on above.

Thanks

Tiggy

Car_54

As regards adding a keeper, I have either traded-in, or sold to the trade, at least 10 cars in the last few years. No dealer has ever asked about previous keepers. This supports my view that it has little or no impact.

photome

I have had a car registered in my name but insured in my sons name it didn’t make any difference to the premiums

Herzlos

Car_54 said:

As regards adding a keeper, I have either traded-in, or sold to the trade, at least 10 cars in the last few years. No dealer has ever asked about previous keepers. This supports my view that it has little or no impact.

It'll be in the HPI and on the V5 so they'll already know. It's generally not an issue unless it's abnormally high (like 2+/year)

A new (because we're talking about registration) car with 2 is pretty normal with pre-registration, and a 2nd keeper will become less important as the car gets older too.

paul_c123

Tiggy777 said:

Really appreciated the comments...thanks everyone. I

I spoke to DVLA and they said once l get the V5C form in my name l can write to them and explain it and they can correct without an impact on the number of owners.
I am a little concerned what to do in the interim as having my daughter as owner and keeper at her address.is reducing her insurance a few hundred pounds. 
I am risk adverse and don't want to put her at any issues in terms of getting the insurance wrong...although it's unfortunate that DVLC take so long to process:(

As before thanks for all the help and appreciate any comment on above.

Thanks

Tiggy

Errrrrrr obvious question - how many previous registered keepers does the car have? Are we talking 0 to 1; or 15 to 16 here?

And the above.....they're right it won't affect the number of owners, but they don't record the OWNER, they record the REGISTERED KEEPER. Giving the benefit of the doubt, I think you mean number of registered keepers on the V5, in that they'll alter your name to hers, without the usual process of going through a change of keeper (which would have been recorded, and show on a search as you owning it for about 5 days, which isn't ideal!!)

400ixl

Tiggy777 said:

Really appreciated the comments...thanks everyone. I

I spoke to DVLA and they said once l get the V5C form in my name l can write to them and explain it and they can correct without an impact on the number of owners.
I am a little concerned what to do in the interim as having my daughter as owner and keeper at her address.is reducing her insurance a few hundred pounds. 
I am risk adverse and don't want to put her at any issues in terms of getting the insurance wrong...although it's unfortunate that DVLC take so long to process:(

As before thanks for all the help and appreciate any comment on above.

Thanks

Tiggy

My last V5C was with me in 3 days so does not take long to process

Frozen_up_north

Tiggy777 said:

Thanks for the comments.
I just spoke to the dealer and they said it was their policy that they would update the V5C form with the person buying the car.  They would only have registered the car if the funds came from my daughters so yes l am too late.

I think l maybe able to contact DVLA and explain but l am just a bit unsure how this will effect the insurance now.

Any ideas

Regards

Tiggy

Many couples buy a car that is recorded as being bought by one person, with the other paying from their bank account. We have done it several times, no problem at all. The dealer just plain cannot be bothered.

born_again

Tiggy777 said:

Really appreciated the comments...thanks everyone. I

I spoke to DVLA and they said once l get the V5C form in my name l can write to them and explain it and they can correct without an impact on the number of owners.
I am a little concerned what to do in the interim as having my daughter as owner and keeper at her address.is reducing her insurance a few hundred pounds. 
I am risk adverse and don't want to put her at any issues in terms of getting the insurance wrong...although it's unfortunate that DVLC take so long to process:(

As before thanks for all the help and appreciate any comment on above.

Thanks

Tiggy

TBH, as risk adverse. The best option is to give her the money & let her buy the car/insurance.
That way there is no risk at all to you  👍

Amazing how many parents pay for kids insurance & then complain when ins co debits them again next year..