minicabelemet
Member Since: 28 Oct 2005
Location: Kingston-upon-Thames, Surrey
Posts: 85
  
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| CAN YOU BUY NEW CAR BUT REGISTERED ON DEALERS NAME??? |
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Hi everybody! I have a big dilema: I was offered an unregistered HSE TDV6 auto MY06 by a very well known LR (and other prestige cars ...Jaguars, etc)dealer. I will be paying cash for the full amount of £39k. Now, is this a catch or is everything ok? ...the dealer said that the car has to be registered on their name for the first 90 days so he can claim some kind of refund from the manufacturer (as he will claim that it is a demo car!). I was told that I have to insure the car myself, but wouldn't I have problems to insure a car that is not registered on my name???
Please, give some advise!!!
PS I was handed a standard form to sign where it states that the car is on loan from the dealer. 
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 1st Dec 2005 7:25 pm |
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Winger
Site Moderator
Member Since: 15 Feb 2005
Location: UK
Posts: 3428
 
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It could affect the resale value, as it will record a change of ownership on the log book at 3 months - in other words, you will be the second owner.
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| 1st Dec 2005 7:28 pm |
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minicabelemet
Member Since: 28 Oct 2005
Location: Kingston-upon-Thames, Surrey
Posts: 85
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It does not bother me if it is only that. Anyhow I hope that I will be keeping it and enjoy it for a long time. I have read so many good things that I can not wait to put my hands on it.
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| 1st Dec 2005 7:30 pm |
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Winger
Site Moderator
Member Since: 15 Feb 2005
Location: UK
Posts: 3428
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Insurance should be no problem, either.
Insurers are more interested in the main driver than the registered keeper. The only reason they need to know the difference is that in the event of a claim it is the registered keeper who gets the money........
But, you need to sort that out with the dealer (the registered keeper) - else you could find yourself with a leg up.
Would I do it? Probably not.
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| 1st Dec 2005 7:32 pm |
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Cliff H
Member Since: 27 Oct 2005
Location: Home of the Pork pie and Stilton
Posts: 1304
 
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Someone else put a thread on here about the insurance issue.
Certain insurers don't allow it but there are plenty that will.
Have a quick search through the threads.
Good luck with your purchase you will love it 
Still worth getting other prices from other dealers as you may be paying full price for those extras, want them or not! Zermatt silver 06 reg.
Gone but not forgotten !!!
Last edited by Cliff H on 1st Dec 2005 7:37 pm. Edited 1 time in total
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| 1st Dec 2005 7:35 pm |
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minicabelemet
Member Since: 28 Oct 2005
Location: Kingston-upon-Thames, Surrey
Posts: 85
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Thanks!!! Can't wait to pay the deposit and take it for a spin tomorrow.
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| 1st Dec 2005 7:36 pm |
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Winger
Site Moderator
Member Since: 15 Feb 2005
Location: UK
Posts: 3428
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minicabelemet wrote:Thanks!!! Can't wait to pay the deposit and take it for a spin tomorrow.
But, you need to sort the insurance out with the dealer (the registered keeper) - else you could find yourself with a leg up.
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| 1st Dec 2005 7:55 pm |
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minicabelemet
Member Since: 28 Oct 2005
Location: Kingston-upon-Thames, Surrey
Posts: 85
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Sorry Winger I don't understand... do I need to arrange to have insurance done by the dealer? Why can't I use somebody like esure (my present insurance)? Please advise.
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| 1st Dec 2005 8:08 pm |
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BN
Member Since: 18 Mar 2005
Location: Here
Posts: 6463
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minicabelemet wrote:Sorry Winger I don't understand... do I need to arrange to have insurance done by the dealer? Why can't I use somebody like esure (my present insurance)? Please advise.
Will you be paying for the car on receipt of it, or at the end of 3 months. If you pay on receipt, it is your car not the dealers. Insurers will not like that one at all if it is left in the dealers name as the registered keeper. There are other legal problems that could arise as well. Don't sucker to a dealers tax fiddle.
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| 1st Dec 2005 8:18 pm |
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Winger
Site Moderator
Member Since: 15 Feb 2005
Location: UK
Posts: 3428
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Well, perhaps if you don't get it, you shouldn't go ahead!
See the post further up......but to spell it out (as you have described):
1. You give the dealer £39,000
2. They register the vehicle in their name
3. You sign a form which confirms that the car is on loan to you
4. They insist that you insure the vehicle before you drive of in it, but they are the registered keep; your insurance will note that they are the registered keeper, but you are the principal driver
5. The car gets stolen; the insurance company pays the registered keeper - who, in the absence of anything that confirms the contrary, they reasonably assume is the legal owner.
6. You are left with no car and a £39,000 hole in your pocket - unless you have covered the fact that, notwithstanding 3. above, you are actually the legal owner, and the insurance beneficiary...then, the circle is squared.
You can get insurance - Norwich Union, for one will cover you - but if I was you I would want the "loan" issue to be fully clarified........
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| 1st Dec 2005 8:19 pm |
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minicabelemet
Member Since: 28 Oct 2005
Location: Kingston-upon-Thames, Surrey
Posts: 85
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Why can't this be made simple?! If I have the receipt of paying for the car, doesn't it prove that it is mine? The insurers should pay out (if touch wood something happens!) to the owner not the registered keeper! How can I clarify with the dealer???
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| 1st Dec 2005 8:26 pm |
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Winger
Site Moderator
Member Since: 15 Feb 2005
Location: UK
Posts: 3428
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Your complication is that you will have signed a document, apparently, that says that car is on loan to you......now reconcile that with your view that you are the owner.
Your choice, as I have already said, I probably wouldn't do it.
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| 1st Dec 2005 8:31 pm |
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BN
Member Since: 18 Mar 2005
Location: Here
Posts: 6463
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minicabelemet wrote:Why can't this be made simple?! If I have the receipt of paying for the car, doesn't it prove that it is mine? The insurers should pay out (if touch wood something happens!) to the owner not the registered keeper! How can I clarify with the dealer???
Is the dealer a registered LR dealer or a independent?
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| 1st Dec 2005 8:36 pm |
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minicabelemet
Member Since: 28 Oct 2005
Location: Kingston-upon-Thames, Surrey
Posts: 85
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It is Guy Salmon in Kingston-upon-Thames. They were reluctant, but I stuck to my offer of 39k including £1000 worth of extras. They want £1000 deposit tomorrow(on credit card), with the rest paid by debit card next week after the registtration of the car. They look a decent company, but you never know.....
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| 1st Dec 2005 8:42 pm |
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BN
Member Since: 18 Mar 2005
Location: Here
Posts: 6463
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minicabelemet wrote:It is Guy Salmon in Kingston-upon-Thames. They were reluctant, but I stuck to my offer of 39k including £1000 worth of extras. They want £1000 deposit tomorrow(on credit card), with the rest paid by debit card next week after the registtration of the car. They look a decent company, but you never know.....
They are well known of course, but potentially I think you are opening up a few problems for yourself. Why not call an insurance company and explain exactly what you have been asked to do.
Failing that, there are plenty of other deals around, so search a bit. Dealers want to get the orders on their books to keep their quotas up, so will do anything almost to achieve them.
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| 1st Dec 2005 9:06 pm |
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