www.bbc.co.uk/news/business-38231138
Drivers of "nearly new" cars are being put at risk of invalid insurance and breaking the law because some motor traders are retaining log books.
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>> Drivers of "nearly new" cars are being put at risk of invalid insurance and breaking
>> the law because some motor traders are retaining log books.
Drive The Deal is always droning on about it.
www.drivethedeal.com/Pre-Registered-Cars.aspx
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Nothing new, been going on for years where the dealer has enjoyed some kind of fleet discount subject to not selling on within 6 months.
Personally I wouldn't accept it as a customer, but I'm sure many do.
I onder what happens if the dealer does bust in the interim?
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>> Personally I wouldn't accept it as a customer, but I'm sure many do.
I did. You're right, many do.
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>> I wonder what happens if the dealer does bust in the interim?
I expect it could get a bit messy.
But the owner is not necessarily the registered keeper. I got an invoice from the dealer. I had proof of payment. I took the view that I would go with that. The risk I perceived was that they had sold me something that did not belong to them, but to their associated company that was the registered keeper. In general, consumers buying cars from proper dealers are presumed to be innocent purchasers.
I informed the insurer (LV) that the V5 was not in my name, and why. Some insurers won't accept this.
In the very unlikely event that it had gone wrong I would have taken it on the chin - my decision. I'm not going to worry about every vague possibility, but I will do what can to mitigate the risk.
I'd do it again, for a big enough discount.
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Did it for an 8 grand discount on a Shogun, paid the deposit by credit card (as advised by the company) as it was under £30k the CC company shared joint liability for my purchase.
My understanding was that the V5 would have the company name as first owner.
Insurance through LV was fine.
When I received the V5 it actually had my name as first owner from the start - presumably they just had to make sure it didn't appear on a forecourt somewhere within the first 6 months (when I received the V5).
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>> Did it for an 8 grand discount on a Shogun, paid the deposit by credit
>> card
Good thinking, did that too.
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Did they charge you a credit card fee?
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>> Did they charge you a credit card fee?
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Dont think I've ever been charged a credit card fee for paying a deposit on a car. Good move though as I think if you pay any amount by card the whole transaction is covered IIRC
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>> Did they charge you a credit card fee?
Yes I'm sure they did. It would have been material on the full price, but not on the £100 that I paid on the credit card. The rest of the deposit and the balance on collection were paid by debit card.
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Nearly new cars - risk from log book delays - Duncan
