[babaikram]

I am in the process of wanting to change PRE LCI F10 to used LCI F10. I intend to buy approved used BMW from a franchised dealer. For personal reason I would like to know who is the official owner of approved used vehicle on dealers' forecourts. Is it dealers or BMW that is the official owner of the approved used vehicles?

[Mikey0423]

The dealer owns it, just to add a bit to this as this is my 2nd used PCP the dealer invoices the finance company e.g. BMW Finance, at the end of the term if you change the vehicle for another it will gone back to Thorn the BMW prep/returns depot still owned BMW finance then bought by a dealer/group.

[babaikram]

Thanks all. This is the answer from Honest john

My question:
s the dealer or the motor company (e.g. BMW conglomerate) that is the owner of retuned formerly PCP(ied) vehicles whilst they are waiting to be sold to a second owner?

HonestJohn Answer:

The finance house that financed it owns it. That's where it gets complicated because the finance house if often wholly owned by the manufacturer.

[robbiep]

I don't know why you're even stressing over it. It doesn't matter.

Stop worrying about things that don't matter, and stress over those that DO matter.

[DB118D]

If you mean who's name is on the V5 it will be the previous keeper. It doesn't get re-registered to the dealer and add an extra keeper unless the dealer decides to run it as a demo and tax it.

Technically the dealer owns it as they have bought and paid for it, but as above, this won't show on the V5

[MrPogle]

I don't think Honest John understood your question. The person who is selling (i.e. The person you pay) owns it because otherwise he can't legally sell it to you.

[robbiep]

Originally Posted by MrPogle

I don't think Honest John understood your question. The person who is selling (i.e. The person you pay) owns it because otherwise he can't legally sell it to you.

Maybe, maybe not. It might be more accurate to say that the garage selling it owns it OR has the right to sell it from the owner - given that technically the owner might be BMWFS, for example, but the car being sold by a dealership.

As I said though, it's irrelevant. They have the right to sell it to you, and transfer legal ownership to you. That's all that matters.