davesmufc:The best company is Yes Car Credit

Dave,

Please tell me you're joking lol?

The best company is Yes Car Credit

Hi,

It's not just PCP's, even with Hire Purchase you're not the legal owner of the car until the final payment has been paid. Once you have paid the final payment, or ballon in the event of a PCP, then title of the goods become yours. Just inform the insurance company of the situation and there should be no penalties for this.

They do need to know,  as if the car was written off or even stolen and not recovered then they would need to settle any encumberence on it to the official owner (ie. HP co. or PCP co.) so they in turn can release title of the goods to them.

Andy

PS. not an expert just my personal thoughts

Update - phoned Direct Line this morning - they changed over the legal owner to the finance company with no problem and no charge.  Did ask about registered keeper though who I advised would be me (just hope that the guy at Sainsbury's/Freeway was right)

Hi Joe,

 Thanks for the reply.

Out of interest are you the registered keeper?  Other insurance companies only ask for the registered keeper (which I will be) but direct line mentions both keeper and owner in their schedule.

Yes you should tell Direct Line that you're not the Owner of the vehicle. I have just taken delivery on a Lease car and I too am insured with Direct Line. I don't think it makes any difference to the price of the policy and they are one of the few insurance companies who will insure a car which is not owned by the policy holder as the main insured driver.

Hi,

I have seen a few posts on this topic but just want to be sure:-

 I am about to take delivery of a new car vai a PCP deal (Sainsburys Bank/Freeway).  I understand that I will be the registered keeper of the car but not the owner.  I have already purcahsed insurance for the car via direct line and the certificate shows me as the legal owner and registered keeper.  Is this a problem?  Should I inform Direct Line that I am not the owner?  Any one with a similar exaperience?

 Thanks in advance for any help.