My daughter has written off her 2009 Nissan Note in a car accident, which was her fault.

See has only recently finished university and is trying to get her first job.

She will need a car for her work / commuting, but has now lost her no claims bonus.
Losing the ncb is a bit of an issue as the insurance costs have rocketed unless she buys a reasonably small car, like a Citigo, UP etc.

Obviously she hasn’t got too much cash available and doesn’t want to borrow an enormous amount to get a reasonable car.

The dilemma is that buying a used car for about £5000 cash only gives options in say a 1. Litre car of a 50,000 to 60,000 miles.

Buying a new car , like a UP, on PCP, let’s her get a car with a warranty and low payments in order to put say 10,000 miles per year on it for the next three years, with low running and insurance costs.

Now, she can’t get credit, because she is not employed.
But I can.
So can I buy the car and let her be the owner?

Strictly speaking under a PCP arrangement neither of you are the owner – the PCP company is.

But, once you’ve got the car you become the registered keeper (not owner) which I think you’d need to remain as but then insure you and your daughter ensuring she is noted as main user.

But complicated but I think that’s the way it would work…

The Up! Is a fantastic little car, perhaps not great if you are doing 15k+ a year but up to 10k it would fit the bill.

I know of parents doing it for newly offspring, where they get a years free insurance.
If the maths works why not…the free insurance can be worth almost £2k.

The pcp thing doesn’t bother me, it worked for us when the wife’s car wheezed it’s last. Few hundred quid down & x amount a month put her in a new car.
I do feel a failure though, for not saving up for everything as per the usual advice on here.