I’m buying a car for my wife – long story but she doesn’t have the credit rating to get the deal from the dealership.

It’ll be her car – so I think for the registration she should be on the V5C as the first registered keeper. The dealer reckons it has to be me because I’m the buyer (under finance) and hence for her to be named means if finance defaulted they wouldn’t be able to chase her to get the car back.

I thought ownership and ‘keepership’ were separate things? How do company cars deal with it?

How do company cars deal with it?

Employer is listed as owner and on V5C, they just let an employee use it. If you get a ticket, DVLA send it to the employer…

You’re correct. It even says on the v5 that the registered “keeper” is not necessarily the owner (ianal)

No, the dealership’s right. If you’re financing the car then the car needs to be registered in your name. No ifs or buts.

Their finance company won’t pay the dealership for your new car any other way.

If you were getting a personal loan from the bank it wouldn’t matter but as you’re getting a secured loan you have to jump through their hoops.

I think you sound correct OP.

for her to be named means if finance defaulted they wouldn’t be able to chase her to get the car back.

No; obviously they’d have to chase you since you’re the one who’s bought it on finance, regardless of what it says on the V5!

If it’s a car for your wife does it really matter who’s name is on the V5?

I’d be asking them to sign a document confirming that they’re demanding that you lie about the vehicle ownership to the DVLA.

If you default, they should be chasing you for payment. The loan is nothing to do with her, surely?

Not majorly, but I don’t have the time to answer all her parking ticket correspondance and she probably doesn’t want me to see it 😉

It’s up to the dealer/car company/finance company what conditions they have for a loan. So it doesn’t matter that DVLA say the reg keeper isn’t necessarily the owner.

How good a deal is it? Loan elsewhere?

It’s not a big enough issue for me to have to undo all the finance stuff, i just like things to be correct.

Cougar – Moderator
I’d be asking them to sign a document confirming that they’re demanding that you lie about the vehicle ownership to the DVLA.

They’re not demanding that at all. In effect Jon V is actually misrepresenting the true picture to the finance company. If it’s not his car he shouldn’t be financing it!!

It’s not the dealers fault that Mrs Jon V can’t get credit…..

It is my car by definition; that’s not in dispute. I’m paying the cash, I’m signing the finance docs, if I can’t pay they’ll take it back.

I am the owner.

However – owner does not equal keeper – which is the semi-technical term for person who actually runs the car on the regular basis.

Maybe I’ll rent it to her…. for favours.

However – owner does not equal keeper – which is the semi-technical term for person who actually runs the car on the regular basis.

Are you sure about that?

“Are you sure about that?“
Yes. It even says so on the V5.

e.g. for a leased car, you never own it, but you are the registered keeper.

https://www.askthe.police.uk/content/Q743.htm

Amongst others.

Every day’s a school day.

Dealer’s wrong. We bought a Mazda a couple of years ago, financed via Mazda (in reality Santander).

The finance agreement and legal ownership of the car is in my name as my wife doesn’t work.

The V5 from new has been in my wife’s name, so she is the legal keeper, and the insurance is in her name as main driver.

Just means answering a couple more questions on the insurance normally, and adds £1 to the premium with Direct Line as keeper and owner are different people.

Technically the finance company could choose to lend the money, secured on the car, even if the owner isn’t the keeper.

However, if I lent money secured on something, I’d be inclined to want the borrower to actually keep the thing they own. Saying, “yes I do own it, but it could be anywhere, certainly not in my possession” won’t help me if I need to repossess it because you haven’t paid up!

It’s a policy, not law, but essentially a sensible and not unfair policy.