Do I Get The V5 Registration Document With My Lease Car?
When you enter into a Contract Hire agreement for a lease car you never actually own the vehicle.
Whether you take out a Business Contract Hire (BCH) or a Personal Contract Hire (PCH) agreement, the same applies, as you are simply leasing the car for an agreed period of time, at the end of which the lease car will be collected from you and returned.
Therefore, you are never the registered keeper of the lease car – the company funding your lease will be the owners of your lease car for the duration of your lease term and it is they who will hold the V5 registration document.
For this reason, when you lease a car through a BCH or PCH agreement with Clear Car Leasing, road tax is included as part of your lease contract and your funding company will inform you by post when your road tax has been renewed.
If the price of road tax increases or decreases within your lease term you will be notified of the changes.
In some instances, such as applying for a parking permit, a copy of your V5 document might be requested by your landlord or local authority and in this case you must contact your finance company for assistance. Our team at Clear Car Leasing should be able to help by providing you with the confirmation required to show that your car is on a lease agreement.
If you wish to add a private number plate to your lease car, you must inform your finance company of the changes as they are the registered keeper and owner of your lease car and hold the V5 document. You might have to pay a small administration fee for this service and you’re also responsible for removing the plate before your lease contract comes to an end.
For speeding or parking ticket offences that weren’t handed out on the side of the road but rather caught on camera, it will be your finance company who’ll receive them by post but that doesn’t mean they’ll pay them! Any tickets will be forwarded on to you by post and an administration fee could be charged for the service.
Please click here to find out more about our business/personal car leasing services and amazing offers, or call us today on 01904 55 75 44.