A new (used) car for learner - V5 Registered Keeper question

[vagabond]

A close elderly relative has just given up driving and has kindly offered to "gift" their car, a very good condition 2000MY VW Polo, to our family. The thought being that as both my daughters (21 & 19) are/were learning to drive until COVID hit, one or both of them might be able to use it in the very near future.

Obviously with both my daughters being new/learner drivers, their potential insurance costs are going to be high - we accept that. However, I'd like to do anything I can to keep that as low as possible; my question is, when we transfer the registered keeper details on the V5, for insurance purposes, would it be better to put it in one of my daughters or either my wife or I (we're both in our 50s and have max NCD) name?

I have a feeling it doesn't make a difference but thought I'd check with you knowledgeable folks anyway.

Thanks in advance.

P.S. We already have 2 cars in the household, which my wife and I are the registered keepers. The value of the "new" car is probably around £800, so not really concerned about any re-sale impact.

[hogthrob]

Aren't insurance companies mostly interested in who the 'main driver' is? I've never been asked who the registered keeper is.

[vagabond]

This was my understanding too - we will probably put either myself or my wife as the "main driver" (which will probably be true initially) and either or both of my daughters as named drivers to lower the insurance costs.

[wigdog]

This was my understanding too - we will probably put either myself or my wife as the "main driver" (which will probably be true initially) and either or both of my daughters as named drivers to lower the insurance costs.

I would be cautious about that-my experience was that insurance companies are very alert to this practice of trying to lower the cost, and only put yourself as main driver if that really is true.
We used Tesco black box insurance for our daughter in a similar situation after looking at a few different options.

[Rory]

My advice would be to think about how things will be handled in the event of a claim, rather than looking to reduce the initial cost.

Cheers
Rory


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[g40steve]

When our daughter was learning to drive we insured the vehicle in her name with DL with me & wife as named drivers.
(Two year old fiesta 1.2 policy £1100) when she passed her test we had to have a black box, but bonus of accruing no claims while learning to drive & price stayed roughly the same.
At renewal time she changed companies, Admiral & got a good discount even without a black box on the new policy. We chose a higher excess due to the fact any accident would be costly, £670 with £500 excess.
Do search around as we did see quotes of 2K+ when first looking.
Renewal time again soon so will report back, MSE reckon three weeks prior to expiring is the sweet spot for cheap renewals

[Omegamanic]

My son's insurance quotes were cheaper with him as the owner and insured, with me as a named driver, than me insuring a car and having him as a named driver - seemed strange to me, but..

[vagabond]

Thanks for the responses and certainly some food for thought.....

My reasoning for initially putting either myself or wife as the main driver, was because neither of my daughters have a full license at the moment, so would need to be accompanied by one of us and on L plates. Hopefully that will change in the coming months, when they are planning to restart lessons and take their tests.

If we can insure it as one of them being the main driver, despite not (currently) having a full license, then I will certainly look into that option too.

Thanks again for all the responses

[Paddy!]

my question is, when we transfer the registered keeper details on the V5, for insurance purposes, would it be better to put it in one of my daughters or either my wife or I (we're both in our 50s and have max NCD) name?

I have a feeling it doesn't make a difference but thought I'd check with you knowledgeable folks anyway.

I think the insurance question was answered but to clarify, the registered keeper on the V5 is not necessarily the legal owner (and I believe it still says that on the newer printed copies).

The only thing to consider is if you ever intend to resell/part-ex it may be easier to keep the V5 in the name of whoever you think is likely to do this transaction in the future? Not totally prohibitive but let's say there's another scrappage scheme you might want to take advantage of, part of the qualifying conditions was that the car was registered to the person buying the new vehicle for a set amount of time (3 or 6 months from memory).

But probably more importantly, any speeding/parking fines/points etc. will come to the registered keeper and it will then be their responsibility to effectively "prove" (or more likely just pass on info and blame) as to who was driving/parking without paying, at the time of offence.

[RobDad]

I bought my son a car late last summer amd was advised to put the car and the insurance in his name, which I did. My wife and I are both on as ‘named drivers’ as we are the ones sitting in it to teach him and we’ve both used the car a bit, manoeuvre it out of the way on the drive etc. The insurance whilst learning, fully comp etc was just over £300 which I thought was reasonable. The car is a VW ‘street Up!’ Which in spite of standard go faster stripes, alloys and a sunroof etc has proved very cheap as it has a 1 litre engine amd not as popular among young drivers as Corsas and fiestas!


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[ralphy]

The downside of being an additional driver on a policy is that you don't 'earn' any years of no claims 'bonus' in your own right.

R

[Alex L]

The downside of being an additional driver on a policy is that you don't 'earn' any years of no claims 'bonus' in your own right.

R

Also worth bearing in mind that if your daughters become the main drivers yet are only insured as named parties, it's effectively insurance fraud. Look up "insurance fronting"

[Andyg]

When my son turned 17 I bought a Skoda Citygo. I was the registered keeper, but the insurance (he was still a learner) was in his name, with me as a named driver.

When he passed his test about 6 months later, he was no longer a learner and had to taken out his full insurance (again with me as a named driver). On his 18th, I gave him the car, signed the V5 and title passed to him. I also informed the insurance company of the change in ownership (they didn’t care to be honest).

All now done and dusted.

I suggest that the owner of the car simply put your name on the V5 and then you can decide at a later date who gets to keep it.

[vagabond]

Thanks for all the pointers. I will register it in my name and get insurance sorted out for my eldest daughter as main driver (as she is most likely going to be in the road first).

Thanks 👍

[mijyou]

Maybe worth a look

https://www.moneysavingexpert.com/in...young-drivers/

[golf]

The downside of being an additional driver on a policy is that you don't 'earn' any years of no claims 'bonus' in your own right.

R

Not totally true, I used my ncd on a commercial vehicle and was a named driver on my wife’s insurance.
When I bought another car my wife’s insurance company gave me 8 years ncd for being a named driver on one of their policies . One other company would do the same if I could prove I had been a named driver for x amount of years. It’s always worth asking the company that your a named driver with if they will give you any ncd.

[Andyg]

Thanks for all the pointers. I will register it in my name and get insurance sorted out for my eldest daughter as main driver (as she is most likely going to be in the road first).

Thanks 

We got my son’s provisional licence insurance from Adrian Flux. They supply a “stick on” black box and an App so you can see exactly what happening. If your daughter passes within 9 months then they credit back some of the policy money towards her next “full licence” policy. Hence my son Full Comp insurance on the Skoda was about £650 (based on 8000 miles). He also was accredited no-claims for his initial provisional policy.

Based on his current record his next insurance will be £442. Not bad for a 19 year old.

[bootneck]

A note to those with black boxes fitted to kids cars, remember it’s there if you borrow the car to nip the shops etc a colleague inadvertently increased his sons insurance by taking the black boxed car to nip somewhere because it was blocking his own car in lol