Can I register a car in a child's name on V5?

[BabyNSX]

Looking to buy a future classic, but don't want to add another owner on the log book when I give it to my son hopefully in 15-20 years time.

Is it possible to register in his name now on the V5 and if so will that cause me any issues (insurance).

Many thanks

[Nolar Dog]

You can register the car to whoever you choose.

A lot of insurance companies will not insure a vehicle that is not registered to the policyholder (or spouse) though.

What car is it?

[a8hex]

Even Spouse can be a problem with some insurance companies. I've had to register a car to get it insured by the wife.

[BabyNSX]

Nolar Dog said:

What car is it?

I have a shortlist, it depends which I can find for the right money in the right condition/colour etc.

Cars on that list so far..

Honda NSX 3.2 manual
Porsche 993 C2 manual
BMW ZM Coupe S50

[lowdrag]

I put all my cars in my daughter's name some years back for inheritance tax purposes. My insurers, Locktons, were more than happy about it. Like your choice of an NSX - cheap to run with services costing £250 a time and reliable as only a honda can be. I drove one at Donington and was immediately faster first time out than in my 348TS.

[BabyNSX]

I had a NSX a few years back, a 1996 3.0 manual. Unfortunately I had to sell it - 5th Gear the TV programme bought it and gave it away as a prize. Ironicaly after their feature NSX prices went up, and stayed up. Doh!

[lowdrag]

Yes, as a retired IFA I appreciate that but she has a licence and is 33 now so no probs as far as I am concerned. they are also registered at her address. Since it is 6 years since I did that I reckon we are pretty safe and will save 40% on £250,000 that way.

[lowdrag]

"Gift with reservation" is a problematical issue and I appreciate your input here. However, I've considered it and really, what with properties and all (plus bank accounts that have been in joint names for years with my daughter) I think they'll probably overlook the cars one day. I've told her to stash them away and sell them a year later! Let's face it, there was once the specific "gidt with reswervation" trust that we often used for houses but then the ba****rds killed it and so in the end some risks are necessary. To be damned sure, I'm not going to give up driving my toys!

PS My poor daughter went through a tax investigation this year purely because she is a signatory to my Jersey account! Cost her the grand sum of £280 in uncollected tax (which dad reimbursed her of course - lol)

[TimCrighton]

BabyNSX said:

BMW ZM Coupe S50

Just out of interest why the S50? Did you mean the S54 instead? E46 engined?

[BabyNSX]

No, I prefer the S50. It comes in the lower tax bracket and the E46 engine does not equate to too much more power in that car as the exhaust system had to be shortened and modified.

Finally the S54 owners think that their cars are worth a huge premium above the S50, making them almost NSX money. If it was S54 or NSX at the same money, I would buy another NSX without hesitation.