Is there a basic rule or percentage to adjust prices by for every owner of a vehicle?

Buying car from lease co, lease co registered wrongly so I would be the second owner - but I'm not as had it from new (factory ordered to my spec).

:mad::mad::mad:

Is there a basic rule or percentage to adjust prices by for every owner of a vehicle?

Buying car from lease co, lease co registered wrongly so I would be the second owner - but I'm not as had it from new (factory ordered to my spec).

:mad::mad::mad:

Surely the fact that you were leasing it indicates that the lease company were the first owners of the vehicle, even though you've been using it from new, so it was actually registered correctly. The fact that you are now choosing to buy it off them backs that up.

Doubt whether a trade-in value would be affected that much by it, but I'm sure a private buyer is likely to use it as a bargaining tool against you.

As I said in the other thread, between one and two owners isn't a problem. Fair enough if I were choosing between a car, for example, that had had two owners, compared with six in total....

And yes, the situation you're in is quite normal and common for lease vehicles.

Steve

The lease car would belong to the lease company so they would have registered to themselves.

The lease car would belong to the lease company so they would have registered to themselves.

As stu has said, the lease company is always owner number one. If sold, even to the driver who has used the car from new then they will always be the second owner.

If the car has had LOT and I mean a lot of owners in relation to its age, then it may affect the value. However, this is not true of some prestige makes/models where its common for the the well off to chop/change cars all the time. One or 2 owners of a car generally have no impact on resale.

Is there a basic rule or percentage to adjust prices by for every owner of a vehicle?

Buying car from lease co, lease co registered wrongly so I would be the second owner - but I'm not as had it from new (factory ordered to my spec).

:mad::mad::mad:

Put yourself in a buyer's position. How much difference would it make to you? If I were the buyer, as long as you could offer the explanation you've just given I probably wouldn't worry about it, but I might use it to chip a little off, if I could be ar*ed...!

Ultimately I don't care how many owners a car has had. What I care about is, if it's had lots of owners, why are they all offloading it so quickly?

If the car's good, the mileage, spec, colour etc, service history... then the number of keepers shouldn't matter!

The saga's not as simple as leasing it.

I have an agreement that states it is a sales agreement, a lease co that says it was legally obliged to register it that way, and the DVLA that said it's bolx.

So either they sold me the car, and additional services to equate to a personal purchase lease (isnt that archive site for websites great ), or it was always a lease in which case it should be a hire agreement rather than sales?

:confused:

Can any of you provide a copy of your T's&C's if on a credit agreement for your car finance please. Just the blurb bit, not personal info - mainly the bit about buying selling and anything mentioning ownership.

In particular if sold as a PCP deal.

I don't think you gave us the full info from the outset mate, I certainly got the impression that you were thinking of buying a company car that you'd been using from new.

It seems now from what you are saying that you purchased this car using a PCP. If that is the case then it's much different as you would have been in a credit agreement with them. Now if you are/were and you thought/were lead to believe you were buying a new car then you should have been the first registered keeper. You should also have the V5, which should not only be in your name but should also show any previous keepers.

This has the hallmarks of the tactics used by certain car supermarkets to reduce the prices on these cars. The dealer registers the car to themselves as a demo or to a holding company as part of a fleet discount and then sells the car to an innocent punter who thinks he's getting a bargain. They'll normally also retain the V5 for 3 to 6 months with it registered in their name to comply (albeit loosely) with the manufacturers requirements.

I dunno if it's still true... but at one point my car insurance policy offered "new for old" replacement if a new car was written off in the first year, but only if I was the 1st owner on the registration documents. So you may find your insurance cover is a bit better if you're named as 1st owner.

Thanks Stu.

They hold the V5C as they tax it as part of my agreement. Just rather than tax in the name Gadgetman C/O Leaseco, they've registered it solely in their name.

The docs make ref to ownership not being mine until final payment, which doesnt differ from any other PCP surely?

So a Solicitor (swmbo works for one that deals with Auto finance debts, is going to examine my agreement, the old site order etc and poss write to them.

Meanwhile time's running out for me to accept the bank loan, get it and settle the car before I end up with 2 monthly payments! So any action may have to be taken after the event.

You shouldn't confuse Ownership with being a Registered Keeper.

We tend to judge the number of 'Owners' by the number of previous listed on the V5 but actually it's only the number of recorded 'Keepers"

I'd have to read up and check but I don't think you need to be the Registered Keeper to tax a car as such but you'd need to have all the paperwork. However name on the V5 and the Insurance Certificate would need to match

The docs detailing that ownership will pass to you when the agreement is satisfied is entirely normal.

After speaking to the DVLA, *usually* lease firms have a licence or are able to get the discs direct and their global business insurance should cover it. As a double check "c/o lease co" is entirely permissable and valid.

So the only sticking point is the contract terminology in the contract and whether they should actually stipulate who the car will be registered to.

The contract has a section which says:

Until payment of the balloon payment in accordance with clause x and all other sums due to us under the terms of this agreement we shall retain ownership of the vehicle and you shall be a mere bailee of it, and shall continue to be bound by the terms of this agreement. You shall be liable as (or as if you are) the owner of the vehicle in respect of any criminal offences committed by you. Administartions may be applicable

Clause x simply says that the contract can be ended if.... and mentions early repayment of the vehicle.

It's the only section referring to ownership.

Shouldn't affect values.

If the cars been well kept and well maintained what does the number of owners matter?

I mean whats better

Several careful owners or one owner where the cars been thrashed?

The car might have had one lady owner but her teenage tearway sone might have been driving it mostly.........

The number of owners etc are just paper and figures.