If I lease a car, who is the registered keeper?
When you purchase a vehicle outright or using a Hire Purchase (HP)/Personal Contract Purchase (PCP) agreement, you are the registered keeper of the vehicle. However, if you lease a car, the registered keeper is the finance company.
What is a registered keeper?
The registered keeper is the person who is responsible for the vehicle, including its insurance, road tax and maintenance. When it comes to a lease car, the registered keeper is the finance company. Under the terms of the lease agreement, it is your responsibility to insure and maintain the vehicle and the finance company will arrange the road tax for you.
What is the difference between a registered keeper and an owner?
Sometimes these terms crossover where the entity who paid for the vehicle is the registered keeper and owner, but it could also be the case where the registered keeper is not the owner. This doesn’t really affect leasing because the person leasing the vehicle is essence ‘renting’ the vehicle from the finance company and will not own it at the end of the agreement.
When a vehicle is purchased on finance (HP or PCP) the registered keeper will be the person paying the finance off, the owner of the vehicle is finance company until the finance agreement is fully settled.
Who is the registered keeper?
The registered keeper of a vehicle is the person or company who appears on the V5C (logbook) issued by the DVLA. In the case of a lease vehicle, this will be the Finance Company and not the driver. When you lease a vehicle, you’re essentially renting it on a long term basis and will not become the owner of the vehicle at the end of the agreement. This means anything to do with parking fines, speeding infringements or road tax is sent to and dealt with by the registered keeper.
Penalty Notices and parking or speeding fines will be passed on to you, as the known driver of the vehicle, and it is then for you to pass on to the actual driver if you were not driving at the time. Road Tax will be paid for by the Finance Company and is included in your monthly payments.
When you do not have possession of the V5C, it can sometimes prove difficult to obtain a parking permit. If you speak to your finance company, they’ll be able to issue a letter stating that you are the user of the lease vehicle.
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