So what is a pre-registered vehicle?
Pre-registered vehicle or (Pre-reg Car) are new vehicles purchased and then registered, by mainly franchised dealers, main dealer groups or leasing companies, in order to achieve preferential
Pros on Pre reg vehicles
The level of discount and savings available on pre-registered can differ, by manufacture and vehicle type, but generally they are generous with the bulk of the savings passed on as customer savings that can offer substantial and serious savings against the comparable new vehicle headline price.
Another plus point on pre-registered vehicles are that in the main they are vat qualifying, which means they can qualify for contract hire and leasing agreements as well as PCP and finance at very competitive prices.
So why do manufacturers adopt the process of pre-registering vehicles?
Manufactures adopt this policy in order to control stock levels and to gain market share without affecting the vehicles recommended retail price. It is also common for manufactures to want to clear existing model lines prior to the release of an updated or new version.
Choosing Leasing or Finance on Pre Reg Vehicles
Because of the transparent pricing Pre-registered vehicles offer great value on all leasing and finance options, in particular PCP finance if you’re looking for monthly payments to to fit a specific monthly budget, with a guaranteed future value, that offers you an option to purchase, arange your own sale or simply return the vehicle at the close of the agreement. PCP may be well worth considering.
Cons on Pre reg vehicles
A pre-registered vehicle that may only be weeks old with just a handful of miles on the clock, but it is still classed as a used vehicle, with the dealer or leasing company being the first registered keeper, that could adversely impact the vehicles long term resale value, in some instances.
Some pre reg vehicles could have been waiting for buyers for some time as it is common for manufactures to want to clear older stock, and existing model lines prior to the release of updated or new model versions. It is wise to check these points out prior to placing your final order and ensure you are comfortable with the vehicle type, specification and savings against that of a new vehicle.
Pre reg vehicles are supplied with the balance of the manufactures warranty from Date of registration, along with any other warranty’s available from the dealer.