Who is the registered keeper and owner?

The finance company is the registered owner and keeper of your lease car.

Think of it like a tenancy: Renters occupy a property, but the landlord is always the owner. Contract hire leasing works the same way.

You’ll drive the car like it’s your own, but it ultimately belongs to the finance company who purchased the car.

They’ll hold the V5, be first port of call for any contact from the DVLA, and handle taxing the car – the cost of which is factored into your monthly lease payments.

As the driver, you’ll be responsible for sorting out insurance, maintenance, and MOTs (if the latter is required).

If you need a parking permit, the finance company should provide you with a copy of the V5 or any other required paperwork on your request. But it will be up to you to secure the permit itself.

There are certain things you can’t do without permission:

• Take the lease car abroad
• Transfer a private plate
• Make any vehicle modifications 

You can get permission to add a private plate or make vehicle modifications, but these may need to be undone before you hand the car back.

You’ll also be liable for any parking fees and speeding tickets you get while behind the wheel, even though you’re not the owner.

As the registered owner and keeper, the finance company will be notified of any charges, fees, or tickets in the first instance. It’s likely they’ll pay them on your behalf and then recuperate the cost from you directly, though the process can vary between finance companies.

If in doubt, it’s always worth seeking clarification from your finance company directly.