Munchie
Member
Registered: 17th Jul 01
Location: I swap goats for mobile phones
User status: Offline
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Hi all, I have never leased a car before but got 1 on order for next year.
Now, I sent an email to the dealership asking him for advice and here goes......
"Hi Ben, for insurance purposes, does the car come under my name on the V5 or will it be under VW leasing? Just so I can look into quotes as one of the questions is "do you own the vehicle"
Cheers!"
"His reply was
The V5C will be in the name of Volkswagen financial services
And you ‘Own’ the vehicle until it goes back to the finder
Thanks"
So.......when I try insurance quotes, what do I put the car down as? If I put that I own the car the quote is cheaper by a substantial amount!!
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ed
Member
Registered: 10th Sep 03
User status: Offline
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That doesn't sound right - the V5 doesn't tell you who owns the car, it tells you the keeper. You're the registered keeper of the vehicle which is what the insurance company will ask you and the car is remains the property of the finance company.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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The registered keeper doesn't have to be the legal owner. It says that on the front of the log book, so yes, put down that you own the car.
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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Damn it, Ed! 
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Munchie
Member
Registered: 17th Jul 01
Location: I swap goats for mobile phones
User status: Offline
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Thanks men.
Just saved me £300 haha
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deano87
Member
Registered: 21st Oct 06
Location: Bedfordshire Drives: Ford Fiesta
User status: Offline
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My insurance company said that as long as the lease agreement was in my name, that was all that mattered. Didn't mention the V5C.
So unfortunately Tesco won't insure me if I did salary sacrifice and the lease in works name.
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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I have a lease car and what Ben/Ed said.
I've never even seen my V5
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Colin
Member
Registered: 4th Apr 02
User status: Offline
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If it's parked on my drive.....I own it!!
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Ian
Site Administrator
Registered: 28th Aug 99
Location: Liverpool
User status: Offline
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V5 isn't the owner.
Does the lease include tax? Because you'll not get a reminder if its going somewhere else.
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Jambo
Member
Registered: 8th Sep 01
Location: Maidenhead, Drives: VXR Arctic
User status: Offline
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Most leases do Ian.
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baza31
Member
Registered: 19th Apr 03
Location: yorkshire
User status: Offline
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Munchie do u happen to be getting this car from jct vw at bradford ? Golf r ?
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Mike
Organiser: North West and North Wales
Premium Member
Registered: 20th May 06
Location: nr. Skipton, North Yorkshire
User status: Offline
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quote:
Originally posted by Ben G
The registered keeper doesn't have to be the legal owner. It says that on the front of the log book, so yes, put down that you own the car.
Why would you say you own the car? It's the leasing company's car, they've just entered into an agreement to lend it to you.
Also, I know with mine, I'm the registered keeper, it's registered at their address so they hold the V5 but it's my name that's on it. It seems the obvious way to me in terms of fines etc. being in the right name rather than the leasing company having to look up names to pass back to whoever issued the ticket.
[Edited on 05-12-2014 by Mike]
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John
Member
Registered: 30th Jun 03
User status: Offline
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Insurance normally want you to be the owner because then you have the financial interest in the car.
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Munchie
Member
Registered: 17th Jul 01
Location: I swap goats for mobile phones
User status: Offline
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quote:
Originally posted by baza31
Munchie do u happen to be getting this car from jct vw at bradford ? Golf r ?
Yes mate why?
And thanks for replies!
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Ben G
Member
Registered: 12th Jan 07
Location: Essex
User status: Offline
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quote:
Originally posted by Mike
quote:
Originally posted by Ben G
The registered keeper doesn't have to be the legal owner. It says that on the front of the log book, so yes, put down that you own the car.
Why would you say you own the car? It's the leasing company's car, they've just entered into an agreement to lend it to you.
Also, I know with mine, I'm the registered keeper, it's registered at their address so they hold the V5 but it's my name that's on it. It seems the obvious way to me in terms of fines etc. being in the right name rather than the leasing company having to look up names to pass back to whoever issued the ticket.
[Edited on 05-12-2014 by Mike]
My insurance company asked who owns the car when I applied online.
When I was getting quotes for the missus' car, I was messing around with the details and it worked out more expensive if i said she didn't own it. This was when we had a white fiesta which had my name on the log book but was her car.
[Edited on 05-12-2014 by Ben G]
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tmark938
Member
Registered: 4th Dec 14
User status: Offline
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My step daughter has just passed her test and was quoted £2,000 for insurance! Is there any mileage in having me as the owner of the car and her as a named driver?
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MarkM
Member
Registered: 11th Apr 01
Location: Liverpool
User status: Offline
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Fronting.
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