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PCP and car insurance

Last post Sun, Jun 24 2007, 1:58 AM by JEFF BARTLETT. 4 replies.
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  •  Sun, Jun 24 2007, 1:58 AM

    Re: PCP and car insurance

    you should find out why its hard getting online quote is that the insurance works in a different way. the car has to be insured fully comp. so if there is an accident the company you r leasing from get the full amount of balance left NOT MARKET VALUE. dont forget all damage to the vehicle which it has had whether repaired or not can be claimed because of the reduced depresiation due to them.

    comfirm with the dealer. on how it works.

    JEFF

    • Post Points: 5
  •  Sat, Jun 16 2007, 10:51 PM

    Re: PCP and car insurance

    Yeah, is it a new car you're getting and where are you getting it from?

    • Post Points: 5
  •  Sat, Jun 16 2007, 10:44 PM

    Re: PCP and car insurance

    Thanks for that  John so when they ask who is the registered keeper when I ask for a quote I can say me ?

     

    Tracey

    • Post Points: 20
  •  Sat, Jun 16 2007, 5:50 PM

    Re: PCP and car insurance

    Tracey,

    The Finance company will 'own' the car, as in,  they have a right to it if you don't pay them but the V5 (registration document) will (should) show you as the 'registered keeper' thus preventing any insurance issues.

    PCP is a way of paying for a car outright and the optional final payment at the end of the term will be taken if you take no action. The agreement you sign will include this in the payment schedule. 

    Double check this with the supplying dealer but I'm fairly certain you won't have any problems.

    Jon 

    • Post Points: 20
  •  Fri, Jun 15 2007, 8:42 PM

    PCP and car insurance

    I wonder if anyone can help. I am taking a car on PCP ( personal contract purchase ) so the car will be owned by the finance company and not me as i will be handing it back at the end of the 2 year term.

    I have not had my own car insurance for 17 years as I had a company car so I am not sure about how insurance works anymore.

    Can anyone tell me when I go onto a comparison site nearly all insurance companies will not quote as I am not the registered keeper ?

    I find this really strange as from over 30 companies only 3 will quote me why is this ?

    Thanks

    Tracey

    • Post Points: 35