Do You Get A V5 With A Financed Car? A Comprehensive Guide

“Do you get a V5 with a financed car?” is one of the frequent questions raised regarding the purchase of a vehicle through finance. V5 stands for the V5C, a vehicle registration document. In the United Kingdom, it is compulsory to reveal the registered keeper’s identical information. 

This means that one is supposed to know how financing impacts the position, holding, and, thus, possession of these titles as the soon-to-be-owner of the vehicle. Therefore, the article will more thoroughly examine the v5c distribution nuances in the circumstances of car purchase through financial assistance.

What Is a V5C Document?

In the United Kingdom, the V5C is a renowned vehicle logbook. The Driver and Vehicle Licensing Agency awards the official registration certificate to a car owner or a registered keeper. It issues the V5C document which is vital during activities such as selling/buying a vehicle and taxing it. 

The V5C document comprises the vehicle registration number, make, model, the vehicle parts number, and the current and predecessor keepers. The V5C is the owner’s document hence its relevance during the registration or change of possession of the car.

Do You Get A V5 With A Financed Car?

Yes, you get a V5C document when you finance a car in the UK—also known as a vehicle registration document or logbook. However, while you own the V5C, this does not mean that you own the car. Instead, it demonstrates who is contractually responsible for registering and taxing the vehicle. 

And the fact of the matter is that the actual owner of the vehicle is the finance company in most cases. They remain the owner until you fully pay off your car. After you do so, depending on your finances, you will become the vehicle’s legal owner. You should also safely store the V5C because you will need it for many standard car-related processes. 

For example, when selling your car or moving house, you must inform DVLA about your number plate. However, even though your name is not on the V5C for this period, it is expected to be seen as the “registered keeper.” That means you will still be responsible for getting an MOT and paying road tax.

Importance Of The V5C For Financed Vehicles

The V5C, commonly known as the vehicle registration document or logbook, stands as a pivotal document for all UK vehicles, with its significance magnified for those under finance agreements. This document is the backbone of vehicle ownership and usage, ensuring clarity and legality in numerous scenarios.

  • Prove Registered Keeper: The V5C meticulously outlines who holds the vehicle, which is crucial for financed vehicles. It delineates the fine line between the legal owner (usually the finance company) and the registered keeper (the individual physically possessing and responsible for the vehicle). This distinction is vital for legal clarity and responsibility allocation.
  • Essential for Vehicle Finance Agreements: In finance arrangements, where the finance company retains ownership until the final installment, the V5C’s role is irreplaceable. It documents the keeper’s current details, enabling seamless ownership transfer upon finance completion and signifying the transfer of legal ownership.
  • Required for Insurance: The V5C confirms vehicle details for coverage, which is essential for securing insurance. Since insurance is a prerequisite for financed vehicles, the document is indispensable for validating the vehicle’s insurability.
  • Necessary for Legal and Administrative Processes: From taxation to MOT tests and beyond, the V5C is the cornerstone for numerous legal and administrative procedures, safeguarding the vehicle’s legal standing and history.
  • Protection Against Fraud: The V5C is a powerful tool in fraud prevention, allowing verification of the vehicle’s history and legality. This protection is doubly important for financed vehicles, safeguarding both the finance company and the keeper.
  • Facilitates the Transfer of Ownership: The conclusion of a finance agreement sees the V5C playing a crucial role in transferring ownership from the finance company to the individual, a critical step in becoming the vehicle’s outright owner.
  • Important for Resale: Before the finance agreement concludes, the V5C is essential for informing potential buyers about the vehicle’s financed status, ensuring a transparent sale process.

Handling The V5C When Settling Finance

The Vehicle Registration Certificate in the UK. This document proves who is the registered keeper of the vehicle but not who the owner is. Ensure you inform the finance company of your wish to settle the finance on your part. 

Once you send the finance company the money for your balance, the finance company should release their interest in the vehicle, allowing the change of keepership in case there is a need to. 

Once your finance is settled, make any changes required to the V5C, such as updating your details as the registered keeper. Send it yourself to the DVLA. The finance company might ask for proof that the finance agreement has been settled, so it is advisable to keep proof that the bill has been settled somewhere safe. 

If you are selling your vehicle, your buyer may want proof that the bill has been settled. In that case, a letter from the finance company will be the best evidence that the buyer will require so as they can be convinced that the car has no finance to be paid. 

The V5C only proves who is responsible for licensing the vehicle and road traffic involving the car, but it does not prove the owner on the document. Therefore, it is required that you gracefully handle the V5C when settling finance so that all the document process is correctly covered and the party responsible for bills is the right one.


The question, do you get a V5 with a financed car, underlines the contentious nature of car ownership and how it interacts with financing. As the registered keeper, you are entitled to the V5C document, and therein lies the total of the ownership claim, assuming that you fulfill your end of the finance agreement. 

Recognizing this critical distinction and exercising your rights can assist you in a more fruitful arrangement with your financed vehicle. Keep the lines of communication open with your finance provider, and check your status with the DVLA periodically.

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