Questions on buying a Pre-reg car

sillygoose

bclark wrote: »

How is what I said not so?

Companies and Hire companies have registered the cars to themselves as the legal owner, yet other people are driving them without any issues with regards to the Police, getting speeding tickets etc. Thats what I was saying, the Car will be registered to the dealer as the legal owner.

Its the dealer taking the risk here and thats what I was saying to the OP.

As you say.. the car will be registered to the dealer as the legal owner. Except they won't be the legal owner as the op is buying the car off them. Both sides are taking a risk as the law expects both sides to comply, not just the dealer.

That aside, I don't think the penalty for failure to notify is very harse so I wasn't advising the op not to buy the car, just making them aware that there is an (even if remote) risk to them too.

daveyjp

Sillygoose has it spot on.

Avoid any company who does this - dealers do it to up sales, but the car is ordered as a demo to get round the manufacturers quota system.

There are thousands of legit ex demos around - find a 'clean' one.

slimer3k

These cars are bought by the dealer from the manufacturer at a very big discount for use by the dealer as a demo car or hire car. Because of this, the manufacturer does not let the dealer change the V5 within 2 months (for Fords).

This means large savings for anyone who wants one. This is happening on a MASSIVE scale right now.

I know one very large franchise dealer who has been doing hundreds of cars a month like this. The manufacturers are in there right now auditing them. Could lose the franchise, but I doubt it.

Easily a better saving than the scrappage scheme.

bclark

slimer3k wrote: »

These cars are bought by the dealer from the manufacturer at a very big discount for use by the dealer as a demo car or hire car. Because of this, the manufacturer does not let the dealer change the V5 within 2 months (for Fords).

This means large savings for anyone who wants one. This is happening on a MASSIVE scale right now.

I know one very large franchise dealer who has been doing hundreds of cars a month like this. The manufacturers are in there right now auditing them. Could lose the franchise, but I doubt it.

Easily a better saving than the scrappage scheme.

Yep I ordered my pre reg and it's actually been a factory order so it's a fresh and brand new Car. It was registered on the 27th October and I pick it up on the 5th November so it's less than 10 days into it's warranty etc.

The only downpoints that I have to accept are that my name will be second on the V5 and I also won't get the V5 for 6 to 8 weeks. In return for these minor downpoints I got £5050 off list price or 31%. That's moneysaving.

Rolandtheroadie

Just curious, how can you pre register a car that hasnt been built yet and if thats possible, why would a garage pre register it if they had someone to buy it before it was registered?

bclark

scotsman4th wrote: »

Just curious, how can you pre register a car that hasnt been built yet and if thats possible, why would a garage pre register it if they had someone to buy it before it was registered?

You can't register it before it has been built, mine has been built and it apparently arrived into the country on Friday. As for why they do it, god knows. It's all parts of the strangeness of the motor industry but if you look at lots of the brokers on line then it's going on all over the place.

flea72

slimer3k wrote: »

These cars are bought by the dealer from the manufacturer at a very big discount for use by the dealer as a demo car or hire car. Because of this, the manufacturer does not let the dealer change the V5 within 2 months (for Fords).

This means large savings for anyone who wants one. This is happening on a MASSIVE scale right now.

I know one very large franchise dealer who has been doing hundreds of cars a month like this. The manufacturers are in there right now auditing them. Could lose the franchise, but I doubt it.

Easily a better saving than the scrappage scheme.

only vehicles bought in as Demonstrators have a time limit on resale

pre-reg cars can be sold and ownership transferred the minute they come into dealer stock

demonstrators come with time limits, because they are supposed to be driven, and used as a selling tool with customers, so due to the fact they should have mileage and wear and tear, the manufacturer gives the dealer a discount to buy them (although having demonstrators isnt a choice, the dealer has to have a certain amount)

pre-reg cars are only used by dealers to reach sales targets - the bonus kicks in, the dealer then uses this to discount the car - the customer gets a cheap car, the dealer makes some profit everyone is happy

F

Jaxer

I've got a more info from the broker now and done a bit more digging around. The car is definitely coming through "unofficial" channels in that it's not a pre-registered dealer car, but will have a lease or rental company listed as first owner. They have to retain the log book in case of a manufacturer audit so the log book will be sent out after 6 months (but they will provide an invoice for proof of legal title).

The broker says it's a common scenario and the key thing is to make the insurance company aware that I'm the registered keeper, NOT the registered owner (although that might restrict the choice of insurance company).

The price difference is nearly £750 better then the best quote for the equivalent "new" car (ie. first registration) which is a pretty good saving. The broker is http://www.ukcarbroker.co.uk/ and they seem to have a good reputation from googling them.

Has anyone else experienced any problems going down this route?

Rolandtheroadie

Bought the wife an 03 Corsa just as the 53 plates came out. 14 miles on the clock but 6 months old. Cant remember the exact savings, but it was a damn sight more than £750.

Still... Pays your money you take your chances. Good Luck.

Mark_Hewitt

I get the impression that for most dealers the demonstrators are given to the sales staff to use as their own personal transport. Whenever I've gone to test drive a car they've always said "oh, we'll have to make sure Mr. Whoever is in that day as he's got that one"