 You don't need to be an 'investor' to invest in Singletrack: 6 days left: 95% of target - Find out more
hi, I'm buying my dads car off of him. He has the same name as me and at the minute I live in his house. We are wondering if it's worth changing the V5 ownership form, as obviously there would be no change as it's same name and address and as far as I'm aware there is no note of date of birth for the registered keeper (I may be wrong). Also, if the ownership changes then does the tax not get refunded meaning I would then have to re tax the car?
Any advice on this would be appreciated.
Thanks
Same name, same address - I wouldn't bother, hand over the keys and JD.
Theoretically you can add your Driver Number to the V5 which would tie the vehicle to your or your Dad - so if he did that when he bought it, there's a tiny chance you might run into problems down the road if your insurer discovers you're not the registered keeper, but it's such a tiny thing it wouldn't be enough for me to arse about with the VED and all that.
If you do it by the book then you'd have re-tax it. Basically cash it in then your dad will only get whole months and you will have to tax it from the start of the current month so you will end up paying for 1 month twice unless you switch over at midnight on the 30th. I'd just go with keeping everything as is.
your insurance may increase slightly for you not being registered keeper.....
[i]Also, if the ownership changes then does the tax not get refunded meaning I would then have to re tax the car?[/i]
Why not just do the paperwork when the tax expires? Costs you a stamp and it's all legit.
your insurance may increase slightly for you not being registered keeper.
But he is. The V5 says so.
Also, if the ownership changes then does the tax not get refunded meaning I would then have to re tax the car?
Why not just do the paperwork when the tax expires? Costs you a stamp and it's all legit.
this sounds the best option
You will lose out (slightly) on re-taxcing the car as you don't get re-funded for a half month but have to buy a full month when re-taxing it. That's my understanding.
If you have exactly the same name I can see why you are tempted to leave things as they are whilst noting that this isn't strictly legal. Is your fathers full name the same as yours inc middle initials ? If they looked back to when the car was purchased and first registered would they be able to work out it couldn't have been you - too young ? For a months extra tax I would play it by the book and re-register
If you come to sell on, or trade in the car, changing owner's name will add one to the number of former keepers, which might put some if buying.
A minor point I know, but might be worth considering.
Well, if none of the details on the V5 have changed, why would you change it? I would imagine you'll just end up with a confused DVLA employee.
If you really want to you could contact the DVLA to confirm that none of the details they hold differ from yours.
Our names are exactly the same, no middle name either. There would be no problem if the DVLA or whoever looked back, as I was old enough to drive when he got the car.
My dad is a 'by the book' sort of guy and I'm trying to persuade him just to give me the keys, after money transfer obviously, so there is less hassle and another unnecessary keeper on the V5.
I think I will forget the paperwork then.
thanks for the help.
If your dad is a by the book guy, then you may as well do it now. He'll be forever reminding / quizzing (if he's anything like my dad was and mum is).
It may be easiest to just do it -- but I see your point. There is a change of 'owner' after all. Is it possible to speak to DVLA?
OP, got it so go ahead with your plan, if ever asked its always been your car.
The V5 is not proof of ownership. If your dad is happy staying as the registered keeper then it's fine. You aren't doing anything wrong or dishonest, you avoid adding an extra owner and paying a few weeks tax.
I've often wondered why people name their sons after themselves (women don't seem to do this, it would appear), but now it all makes sense - so you can save a few quid on car registration. 😉
[quote=belugabob ]women don't seem to do this, it would appear
Well it would be a bit strange having a son called Kate.
🙂
There's a lot of Jameses in our family. Funnily enough not usually the known as name, that's a middle name. "family" name I guess. My cousin has given both his sons the same (middle) name. That's just weird...
belugabob » women don't seem to do this, it would appear
Well it would be a bit strange having a son called Kate.
Well, we all know that Kate is short for Bob...