As lots of as one in three new cars and truck sales have been registered to dealerships rather than genuine buyers, declares valuation expert CAP.
Its investigation discovered two dealership groups had pre-registered 80,000 cars and trucks between them in July. one more dealership reported a increase in registrations that covered up a six per cent autumn in true new cars and truck sales.
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Hard-pressed dealerships will commonly pre-register cars and trucks to themselves, with these designs artificially inflating their sales figures so they hit benefit targets. The cars and truck will then be sold at a discount rate as an ex-demo or almost new design – as our examples show.
CAP is requiring transparency on pre-reg figures. A spokesperson said: “It’s the industry’s worst-kept secret, however the pros outweigh the cons. purchasers get huge discount rates on almost new cars, plus it keeps dealerships afloat as well as preserves maker as well as vendor jobs.”
Industry body the society of motor makers as well as Traders (SMMT) publishes figures of cars and trucks pre-registered by manufacturers, however not by dealers. Its spokesperson added: “We support transparency, however have no state over dealers. While we’d like to see the true specify of the market, it’s difficult.”
As well as the savings, pre-reg purchasers get the advantage of the car’s warranty, which transfers to the new owner. even Vauxhall’s 100,000-mile lifetime guarantee – usually only offered to the very first owner – is offered, supplying the cars and truck has done less than 200 miles. however a design might be well into its guarantee period, even pre-registered a year ago.
Having pre-registered a car, the dealership need to keep it for at least 90 days before it can offer it on. however it might try to offer the cars and truck directly away, then keep hold of the V5C paper to cover the time period – which is illegal.
New cars and truck sales continue to boost in 2012. figures for August were up 0.1 per cent year-on-year, with 59,433 cars and trucks registered. Of these, 27,562 obviously went to personal buyers. The Ford Fiesta continued to dominate the charts, as the top seller for the month. Plus, 9.4 per cent a lot more UK-built cars and trucks were offered than in August 2011.
Make as well as modelPrice newPrice pre-registeredSaving
VW Golf TDI match (12-reg with 50 miles)£20,015£18,000£2,015
Vauxhall Corsa S (12-reg with 10 miles)£11,625£7,747£3,878
BMW 320d SE (12-reg with 15 miles)£28,080£22,850£5,230