Insurance and car ownership

Honest John Back Room » Motoring discussion
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Mon 24 Nov 2008 14:47
Insurance and car ownership - stevek
Appreciate some advice on my situation. Went with daughter at weekend to local Ford dealer to but a new Ka which they are offering on PCP at 4.9%. Unfortunately daughter is refused finance due to (we think) problems she has several years ago at Uni. she has now been working two years and still paying these off.

So I offer to guarantee the deal-not accepted. The only way to proceed is for me to take the PCP out in my name which I am happy to do and she will pay me back monthly.

Now the problem is that I have to be the keeper on the V5 as terms of the finance. yet her insurance company will only insure her (she has 5 years ncb) if she is on the V5. So these are mutually exclusive conditions.

This cant be a unique situation so I would like to have some view on how we can proceed legally.

Many thanks

{title made non make/model specific as a PCP question could be for any make of car}

Edited by Dynamic Dave on 24/11/2008 at 18:17

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Mon 24 Nov 2008 15:13
Insurance and car ownership - Falkirk Bairn
Buy a less expensive Ka for cash (advanced to daughter) and let her pay you back.

The Bank of Mum & Dad worked well in our home for many years. £2-3K for repayment over 24 mths..............

These days are past us now - now they want bridging loans as they sell house No 1 to buy bigger House No 2 - a bit trickier than £2/3K for a car!
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Mon 24 Nov 2008 15:27
Insurance and car ownership - stunorthants26
Not all insurance companies insist on this, ring around and ask the question would be my advice.
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Mon 24 Nov 2008 16:00
Insurance and car ownership - ex-Triumph man
To me there may well be two ways round this. As I recall, Ford themselves offer insurance, sometimes free, for the first 12 months on new cars. Alternatively Direct Line could provide the solution. With them, every named driver earns his/her NCB whilst on the policy. Worth giving them a call.
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Mon 24 Nov 2008 16:10
Insurance and car ownership - oilrag
Steve, why not wait for the new version of the KA? as the present one seems very prone to rust and it seems the new one will be galvanised.
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Mon 24 Nov 2008 16:15
Insurance and car ownership - audiA6tdi
Old KA is prone to rust and I wouldnt want my daughter driving one - have you seen one after a crash. Either buy the safer Fiesta or perhaps something more modern like a Peugeot 207. The Ka, while good in its day is now 12 years old and is an old design in terms of safety.
We used to have 3 year old Ka's on the forecourt with rust around the rear wiper seal. Crazy.
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