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Are all online sources of new car buying the same? No..no...and thrice no!
Surely a new car is a new car any way you look at it? Not if the conditions of sale to the customer vary (ask yourself...who exactly are you buying it from - who do you hand your money to?..and how long before you get the logbook in your name?)
It seems you can buy a brand new car from just about anywhere now No you can’t. You can only buy a brand new 1st owner car from a manufacturer’s franchised dealership. If you are handing your hard-earned cash to a car supermarket, broker, or any other type of re-seller then they cannot sell you a new unregistered car - as they are not a franchised dealer for the brand...so the car is likely to be registered..or imported.
There’s so many pre-registered deals around, it must be OK? Not if the car comes with any period of logbook retention! Don’t expect a seller’s website to make it clear alongside the attractive price that you won’t have the logbook to go with the car. To put it into perspective - if you bought an insurance policy, but the seller told you that you could not have the paperwork or policy with your name on it for a few months, would you still buy?
In 2000 the OFT (Office of Fair Trading) introduced legislation requiring dealers to hold on to registered cars for at least 3 months before re-selling, and that was back up by manufacturer’s franchise contracts with their dealers, to stop too many cars hitting the market to soon, and too cheaply, and so reducing car values across the board (which affects you long term as your used-value plummets). Further statements were clarified by the OFT in 2005 to strengthen the legislation. A dealer MUST send their slip from the V5 to the DVLA as soon as a vehicle changes ownership, or they face a hefty fine.
Clicking the links below will take you through concise information to help you understand what to look for, how these deals happen, what to ask, and potential pitfalls.
Car Price Basics - in a nutshell, how manufacturers pitch pricing
The Pre Registration Process, how does it happen?
Among all the adverts for ‘new car’ deals, how do I know what’s what?
So, what are the risks if I buy pre- reg’?
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