Personal Contract Lease - insurance

ivrytwr3

ivrytwr3

ivrytwr3

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Having never leased before i have looked into insurance - my usual provider is Co-Op (i get discount) but i hit a stumbling block when trying to do an online quotation:
"Are you the registered keeper of this car with DVLA or will be on purchase?

The registered keeper of the vehicle is the person who is named on the vehicle registration document (V5C).

Please note, this may be checked in the event of a claim."
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So i went to the lease company who replied:

The registered keeper will be the Funder (who is leasing the vehicle to you) of the vehicle, and you will be the owner.
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I gave this info to Co-Op who said that as i would not be registered with the DVLA as the keeper, they are unable to insure me.

Can anyone recommend an insurance company who can deal with leased cars?
 
The response from the lease company is nonsense - you will absolutely NOT be the owner! Which makes me wonder if the rest of it is true either. Perhaps they've got it the wrong way round?
 
It's the wrong way round surely. You'll be the keeper so you're liable for speeding tickets etc, they'll be the owner
 
The finance company will hold onto the v5 and be the registered keeper. They'll forward any speeding tickets onto you.

Find an insurance company who are indifferent to who the registered keeper is. Quite frankly, it's a bit absurd of coop to deny insurance on that basis.
 
fezster said:
The finance company will hold onto the v5 and be the registered keeper.
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I know this is usually true but if you think about it, it's completely inappropriate. The 'keeper' of the person is the person 'keeps' the vehicle. This isn't the lease firm is it? You keep it, they own it..
 
I never knew lease companies did that. Like fox says, it's pretty pointless - the v5 has a huge banner across it saying that it has nothing to do with ownership.
 
My Ex Girlfriends car is owned by the leasing company and they are also the Registered Keepers. They have the V5 for the car too. Plus when she got a fine from Congestion Charge she had to pay the fine plus £35 to lease leasing company for 'processing' it.
 
Same with any company car I've ever had - the lease or management company retain all documents, hence it can take a bit of time for speeding fines or the likes to get to the driver
 
rodenal said:
Same with any company car I've ever had - the lease or management company retain all documents, hence it can take a bit of time for speeding fines or the likes to get to the driver
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That's a bit weird tbh.. I'd be fine with them being the owners but I'd need the v5 for example to apply for parking permit next to my house which is what my council requires.. So if that's case, leasing a car is not an option for me.
 
How can the registered keeper be the lease company? I'm fairly sure that isn't what is intended by the DVLA.

The leases I've seen correctly make you the registered keeper, but these are the large companies who are aware that V5 has nothing to do with ownership.

edit:

In the last week of the lease. Leave the car uninsured outside a police station. It is the registered keeper responsibility to keep it insured.
 
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muon said:
How can the registered keeper be the lease company? I'm fairly sure that isn't what is intended by the DVLA.

The leases I've seen correctly make you the registered keeper, but these are the large companies who are aware that V5 has nothing to do with ownership.

edit:

In the last week of the lease. Leave the car uninsured outside a police station. It is the registered keeper responsibility to keep it insured.
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We had leases with the large uk firms and I can guarantee you standard practice was for them to keep the v5 - not that I think this makes much sense.

The only thing I can think of is it gives them a little bit of protection from some madman misrepresenting the car as his to sell to another madman who doesn't check hpi/finance, but that must be an incredibly rare thing to attempt

Perhaps this has all changed over the last five years, but I doubt it
 
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Usually a lease company is both, therefore they include TAX. And also some charge fees on fines etc. It also means there's less Owner History so when they auction or sell it, people like that.

If you ask the lease company usually they can send you a copy of the v5 for any car park permits or letter for replacement number plates etc.

And muon they would be insured, they use this for delivery, collecting the vehicle to start and any replacement vehicles etc.
 
I had this with my insurer Hastings, the first phone call they asked about registered keeper and owner and when I want either they refused. Rang around a few other places and got a couple of quotes, rang Hastings back and got a different guy who asked why I was leaving. Explained the whole reg keeper etc and he said it was a load of rubbish , whilst you might be neither you have a lease agreement between yourself and the registered owner/keeper and that document is what secures your use of the vehicle without being the keeper/owner and also provides prof of address etc.

Ring back and try for someone else.
 
welshboy said:
And muon they would be insured, they use this for delivery, collecting the vehicle to start and any replacement vehicles etc.
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It wouldn't show up on the insurance database as insured. They haven't specifically insured the car for the duration of the lease or have a fleet policy covering it.

You are right that they have insurance to drive it as part of trade, but that's only whilst they have possession of the vehicle for the purposes of the business. Their insurance policy won't specifically mention the car either.

I would expect the police would impound the car for being uninsured and would pursue the registered keeper for keeping the car uninsured.

kefkef said:
I had this with my insurer Hastings, the first phone call they asked about registered keeper and owner and when I want either they refused. Rang around a few other places and got a couple of quotes, rang Hastings back and got a different guy who asked why I was leaving. Explained the whole reg keeper etc and he said it was a load of rubbish , whilst you might be neither you have a lease agreement between yourself and the registered owner/keeper and that document is what secures your use of the vehicle without being the keeper/owner and also provides prof of address etc.

Ring back and try for someone else.
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Some insurance companies do have rules which stop you. Hastings Direct don't appear to be one of them. It's easy to check, just attempt to do a quote on their website, they will let you know.
 
ivrytwr3 said:
Having never leased before i have looked into insurance - my usual provider is Co-Op (i get discount) but i hit a stumbling block when trying to do an online quotation:


So i went to the lease company who replied:



I gave this info to Co-Op who said that as i would not be registered with the DVLA as the keeper, they are unable to insure me.

Can anyone recommend an insurance company who can deal with leased cars?
Click to expand...

i've been leasing for over 10 years.. you are the registered keeper.
 
VW Financial Services are the owner and registered keeper of my leased Skoda. Admiral had no issue with that at all when I got insurance, so I imagine any Admiral group company would be the same.
 
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