03 Apr 2016

A question about : Sold car but remaining Registered Keeper

Apologies if this has been answered elsewhere, but Google doesn't seem to have an answer to my quandry ...

My current car is leased (PCP) and the lease expires on 1st March.

My new car, however, won't be delivered until the end of March.

The garage that I am buying my new car from, has paid off the lease and therefore owns it from 1st March, but is letting me still drive it for a month until my new car arrives.

As they will not be registering it until I get my new car, do I need to inform my insurance company, or does the fact that I am remaining the Registered Keeper mean I can just carry on as before for the gap month?

Best answers:

  • Doubt you can insure it if it's owned by someone other than your spouse.
    You will no longer have a financial stake in the car if the garage owns it.
    The experts on here will soon point out if I am wrong.
    Try a dummy quote to see if your insurer quotes for a car not owned by you.
  • Thanks for the responses - I suspected my naive optimism would be in vain.
    I'll give the insurers a call and see what they say. And if they tell me to do one, I'll try the temp insurers.
    Worst case scenario, I'll get on my bike for a month!
  • My car is under a PCP in my mum's name. I found that insurers only cared about who was the registered keeper. Since that will still be you until you get your new car, I don't think you'll have any problems. I'd still let them know though.
    I managed to get the car insured when I was neither the owner, nor the registered keeper, and not sharing the same address but it narrowed the choices massively and the price was higher.
  • Thanks again for all the responses - I'm mainly happy to have asked a question that doesn't seem to have been asked before. I presumed I was using Google one in not getting a clear cut answer ...
    It's sounding more positive, and I'll call my insurers to get their take.
    Touch wood.
    Ta again.
  • Just called my insurer and explained the situation - their response was that it was fine and my insurance wasn't affected by the dealer taking over ownership of the car but me staying the Registered Keeper.
    Much relief.
    Thanks all for the responses.
  • i dont think it will bother insurance companies as long as they get their premiums
    just look at a motability car, this is leased to the person with the mobility issue, but does not say they can drive the vehicle, so they can have the vehicle registered to someone else, but they pay for the insurance and can name anyone as the main driver
  • Good outcome.
    Perhaps indicative of a change in car "ownership" options, or desperation for insurers to hang onto or gain customers.
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