car finance "fronting"

[contracttor]

Previously when buying used cars for the other half, I pay/take finance and she drives the car, the V5 is in her name too. We prefer it that way - it is 'her' car after all and not 'mine'. I have my own car (owned outright) and would rather not have two. I'm the named driver on her insurance and she is on mine.

Anyway we were looking at a new BMW a little while ago and they said that the V5 would have to be in my name now - something about 'fronting' and finance fraud?

Can anyone shed any light on this?

Thanks

[woody2846]

This normally applies to if you were say buying a car for a friend. Ive not had any issues with a finance company regarding husband and wife or parent buying for son/daughter. In 10 years I can count on 1 hand the amount of finance comapanies that want to see a copy of the V5 at payout.

[P4T]

I have heard it referred to as an 'accomodation deal'.

Although I have never had a finance co ask to see the V5 as far as I understand it if the vehicle is for the wife the finance needs to be in the wife's name.

[KevinA4quattro]

I believe the finance deal needs to be in the name of the person paying the finance (the 'owner'). The V5 does not list the owner, merely the 'keeper' and does not prove ownership in any way.

[littleredrooster]

Why not just get a personal loan? No link to the vehicle and is usually a better APR.

[jay140285]

I had a BMW 1 series a few yrs ago.

My mother took out the finance and I just paid her each month.

The V5 did have to go in her name as she took out the finance with BMW.