car insurance dilema

[mrggg123]

Hi ive got a car that my dads paying for. He paid 8k +4k is on finance. He said to me that I can have it as a present for my bday come april. The problem is when I insure it in my name can I register the v5 document in my name? Or wont I be able to because there will be finance outstanding on the vehicle? Its a confusing question sorry.

[MondeoMan1981]

AFAIK the V5 shows only the registered keeper's name and isn't proof of ownership.

[SV8Predator]

mrggg123 said:

can I register the v5 document in my name?

Yes.

[mrggg123]

so when the insurance company asks who owns the car when did you buy it who shall I say?

[blearyeyedboy]

Tell your dad to nominally sell it to you for a quid, then give you a receipt?

Re-register it in your name on the V5, job done.

[mrmr96]

V5 is NOT proof of ownership. Look at a V5 and it says exactly this in big red letters at the top.

Insured <> Owner <> Registered Keeper.

Just be honest with the insurer, and of course be sure to tell them you're the main driver if you are. (You can add parents on as named drivers too, which may help lower the premium and is legal.)