Car Insurance dilemma v Separation in Scotland

Hi,

I’m a very infrequent poster with a car insurance dilemma.  My wife and I have recently separated. I have moved out.  The family car is registered in my name with PCP finance also in my name only. The car insurance however is part of a multi car policy with my wife as named driver of the family car.

The existing policy is due for renewal and the current insurers won’t insure the car now that the registered owner address and car address are different.  My wife wants to keep the car at the end of the PCP deal.  I want to register the car into my wife’s name so that she can organise her own insurance at better prices etc.

However due to the fact that the finance is in my name only currently, am I missing something? Is it ok to register the car to some one else?

Any advice or suggestions appreciated before I spend more money on a lawyer?

Cheers

Get a settlement figure. Pay off PCP using bank loan in wife’s name. Transfer ownership.

I doubt finance co will agree with reg keeper not being person with loan.

How long do you have to run on the PCP? The cleanest way would be to settle it early, a lot of firms will not allow you to transfer the contract to a third party, they want you to be the registered keeper and main driver.

Speak nicely to the finance co before you start lawyering up. They may well have a solution which would save you money in the longer run.

Thanks guys. Never really gave much thought to settling early. It expires in September so not long. I’ll look into that option. Thanks again.

Since you’re fairly close to the end of the agreement, it may be worth your while researching the difference in outlay between settlement and voluntary termination + buying equivalent car off the forecourt.