When my finance is paid off in 36 months, will the cost of my insurance increase?

I'm about to get a new car, which I've paid 50 per cent deposit and will pay 50 per cent on finance. I understand that I will not own the car until finance is paid off in full, but I will be the registered keeper. When the finance is paid, will I then become the second owner? Also, as I will not own the car until 36 months from now, but will be the keeper, will this increase the cost of my insurance?

Asked on 24 November 2017 by Dag Hammar

Answered by Honest John

No, you won't as it will already be registered in your name, not the finance company's. And no, it will make no difference to your insurance.

Tags: insurance finance registered keeper

Similar questions

Can my son take ownership of my car while I remain the insurance policyholder?

I own two vintage cars, due to advancing age I plan to transfer ownership to my 36 year old son.The cars will be kept on my premises and insured by me as main driver so that I can drive and son as named...

Two houses, one insurance policy - which address should I use?

I co-own a house and have recently bought another in a different part of the country. During a year I guess I will be spending more time at the new house although that might not necessarily be the case....

Can I register a car but only include my wife on the insurance?

We will have a new car very soon, after a long wait. Unfortunately due to a medical condition I won’t be able to drive it for a while. Can I still register as the owner but only include my wife on the...