Registered keeper on V5 for ex-lease cars

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Sun 9 Oct 2011 20:35
Registered keeper on V5 for ex-lease cars - cycling_caveman

Hi, I've found a car for sale privately that I'm interested in buying. The guy selling it had it as a company car that he leased. The car is just over 3 years old and the lease period has come to an end. I've done an HPI check and there is no outstanding finance.

On the V5 document, it has the lease company listed as the present keeper (with no previous keepers). So, there is no evidence that he actually owns the car. I haven't dealt with lease cars before, is this normal or should he be listed as the keeper now the lease period has ended? I asked him about it and he said it was normal.

Many thanks for any replies.

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Sun 9 Oct 2011 21:09
Registered keeper on V5 for ex-lease cars - Falkirk Bairn

You know the lease company name & reg No - phone them and ask if the seller has bought the car.

Chances are the "buy price" from the lease company is £xxxx and he is selling to you for £xxxx + say £1000/£1500

but there is no guarantee he will send the £xxxx to the lease company and the will want the car if they do not have the money.

HPi shows no money owed as the lease company owns the car with its own money.

Edited by Falkirk Bairn on 09/10/2011 at 21:09

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Sun 9 Oct 2011 21:47
Registered keeper on V5 for ex-lease cars - tony g

absolutely agree that the op should contact the v5 reg leasing company to ensure the person selling has title to the vehicle .

In addition they can often supply usefull information fom thier records , service history ,faults repaired etc.

However, how do you know the guy has used the car prior to offering it for sale . perhaps he bought it from an auction and is now looking to earn a crust.

if the op has done an hpi check including the mileage and finance checks ,and if the seller has the v5 ,plus service records etc .its likely the seller has title to sell the car .

he should make sure he collects from the sellers home ,make out an invoice transferring title from the seller to himself .Plus ask the seller for a copy of his driving license for proof of address and identity .he should also ask to see the original driving license .

if the seller is reluctant to supply proof of id the op should walk away .

good luck

tony g

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Mon 10 Oct 2011 21:49
Registered keeper on V5 for ex-lease cars - cycling_caveman

Thanks for both your replies. I rang the lease company this morning and they told me that the car was sold at auction in August. I asked the seller about this. He um'd and ah'd a lot and said that it was wrong. I asked him to at least be straight with me as the car seemed legit otherwise. He carried on with his story so I said I'd leave it.

Oh, he lived in London and the car was serviced in Scotland. He couldn't explain this and said it was the responsibility of the lease company to service the car. I think they could probably have found somewhere a bit closer to his home!

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Tue 11 Oct 2011 10:24
Registered keeper on V5 for ex-lease cars - leaseman

The only reason that the seller would have the V5 is that he is a motor trader, otherwise he would only be in possession of the V5C/2.

He is obviously a total liar, uncovered by your very sensible research, and you should report all the facts to your local Trading Standards office, before he is allowed to continue this illegal operation much longer. Oh....and don't buy the car!

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