pslewis

OK, trying to do a deal on a Brand New MX5, the 'deal' goes as follows:-

1. Lease Hire Company agrees to buy a certain number of cars - in this case, MX5s from a UK Dealer - in exchange for hefty discount.

2. Discount is passed onto customer with some being retained by the Lease Hire Company.

3. Due to the agreement they have with the Mazda Main Dealer, I will not see the Registration Document for about 6 months. ( he gave me some tale about needing to say that the car is theirs for at least 3 months or he loses the discount).

Now, he also says that I will have good title as:-

1. I will have an invoice.

2. Funds will have been transferred between my account and his, the 'consideration'.

and

3. I will be in possession of the vehicle with keys.

So? Do I have good title to the car? and if I have ..... why do they need to hold the Reg.Doc. in their name for at least 3 months - who gets the bill for speeding and parking

Pete

pslewis

No-One??

And this place is ALWAYS filled with good advice

Pete

mart360

COme on Pete your the rocket scientist

To get title, the docs must be in your name, with a clear bill of sale showing said title is yours, no outstanding ownership or title held elsewhere.

Ask yourself honestly would you buy a car with no V5 up front??

Spend £60 of your hard owned and do a HPI, if its new and an import, then the doccys will be available but you or the dealer will have to do all the work..

sounds like its a dealer car, bought and registered by the dealer, i beleive the term is ex demonstrator. usually 7 months old, with about 7-10K on the clock, balance of warranty etc.

If thats the case, there usually ok, but as i said it will come with V5 up front. no poncing around.

Mart

pslewis

It's a BRAND NEW car ..... 0miles ..... and a UK supplied car from a Mazda Main Dealer, the Main Dealer will deliver to my house.

My father bought a Galaxy last year from a company in Scotland - the same arrangement was happening there, his V5 arrived after 6 months (something to do with the deal) .... he was fine, but I warned him against it - anyway he went ahead and it all worked out.

Now, this dealer is telling me that I have good title as I have the Invoice, car and evidence of exchange of funds ................................ not sure about the legal aspect of this - hence the question.

Pete

Puff The Magic Wagon!

iTrader: (2)

Its essentially a pre-reg car & will show with an extra owner on the V5 - ie you won't be 1st reg keeper which *might* affect re-sale values.

A V5 is not proof of ownership - you have to prove title, so if the 1st reg keeper sells to you & you can a) prove payment & b) have a receipt then you will be the legal owner.

I've done this with my XC70 - saved £4500 on list.It's a common ruse as dealers get discounts and bonus's for selling so. many cars. It's just up to you if you want to show only1 owner from new. Me? Doesn't bother me as the amount of miles I'm racking up 1 or 2 owners makes no difference.

TopBanana

As above, V5 is not proof of ownership. If they wanted the car back, they'd have to first prove you hadn't paid them for it

pslewis

Cheers Puff ...... Not being the first owner doesn't bother me on the MX5 as I have every intention of keeping it until I can no longer drive. It's my old age toy if you like

Yes, I know that it will be registered to the Lease company ..... they then sell it to me - only letting the change of ownership details go through after 3-6 months in accordance with their agreement with the Mazda Dealer not to sell the cars straight away ... but to Lease them out I guess??

The Main Dealer turns a blind eye, so does Mazda and everyone seems to be a winner ............ it's going to be interesting when I tell my Main Dealer what I can buy them for (can't see them knocking £2000 off) - but a Main Dealer is doing EXACTLY that (and more!)

Pete

scunnered

iTrader: (1)

So how old is your father Pete?

Iwan

I don't think people really care about pre-reg cars these days, it's pretty common now so I doubt if it affects resale value all that much. As long as you have proof of payment/ownership from the main dealer I can't see how this would be risky.

Graz

My thoughts exactly, thought PSL was 76 or thereabouts, that would make his father 94 assuming he started early Or is he on about his father in-law, i.e. Ting Tong's Dad, in which case I'd have thought he would still be living in Thailand or wherever

Andis

iTrader: (7)

Could also invalidate your insurance pete.

A lot of companies will only cover you if you are the registered keeper - they might not ask the question but it may be an underwriting assumption and form part of your contract - and you wont be the registered keeper.

Check it before you find you've got to change your insurer to take delivery.

The V5 may need to be produced in the event of a claim (I know you drive carefully but that doesnt stop some tealeaf screwdrivering the door lock to steal your flat cap and phil collins cd's) and I neednt tell you what happens if things dont add up.

MikeCardiff

iTrader: (2)

You do realise ( because this is how message boards work on the net ) PSL is actually a gorgeous, nubile 18 year old blonde nymphomaniac female.

pslewis

I am!!

And all those ********* who have taken the pee out of me over the years HAVE NO CHANCE OF SHARING MY BODY!!!!!

Pete

pslewis

Thats a good point actually, the Registration Document will be released on 1st May 2006 ................ what 'if' the dealer simply forgot/lost the document? Surely I cannot be penalised due to an oversight on their behalf?

Where is the best place to cover a new car, Insurance wise, for a maximum annual mileage of 3000miles - I have had a MX5 on a Classic car Policy for 3 years without claims ... but a NCD is not part of the policy.

Therefore I only have NCB on my Impreza

Pete

pauld37

I'm ok then

pslewis

Oh, yes, YOU are ok ....... you have stood by me - YOU will be the one to take my cherry

Petra

TopBanana

This thread has taken an strange turn.

Andis

iTrader: (7)

Find out if mazda do an insurance scheme.

If they do they may sweeten up the quote heavily in the first year to encourage brand loyalty.....

and with the view to getting your cherry.

MikeCardiff

iTrader: (2)

That would mean everyone then, so Pete only shares his body with himself, which would mean he IS a wan........

pauld37

When Petra?

Trout

iTrader: (1)

Seems a bit odd to me.

I bought a BMW via a lease company - the V5 was in my name immediately AND I got the lease company discount knocked off my bill - and it was an excellent discount in the market at the time.

They did not pre-register the car OR keep the V5 for six months to maintain their discount.

NotoriousREV

As above, I've had leased cars and the V5 has always been in my name, even though I didn't actually own the car. Sounds dodgy to me.

pslewis

Oh Foook

Pete

pslewis

I'va asked and the name on the Registration Document would be Mazda Holding Company .... or something like that??

The Main Dealers claim that they cannot buy the car for what I am being offered it for!!?? Yeah, right

Pete

simo

Pete

try your current Subaru insurer first as they may give you an introductory bonus for the MX5. I added a car to my policy half way through last year & mine gave me 65% straight off the cost of the 2nd car. Changed insurers this year and got the same deal from my new one so if 'Saga insured' will not play ball shop around.

Simon

dharbige

Who's the company? (Pete or PTMW)

May be interested in this kind of thing myself.

Trout

iTrader: (1)

Pete,

when I bought the BMW it was the top of the range of the brand new coupe (the last shape) when they first came out. There was a waiting list and the dealers were getting retail or a small premium on used cars.

I still got an 8% discount of my bill by buying through the lease company - and no messing with the V5.

Sounds like a lot of **** to me. For a man of your down to earth principles this surprises me

Rannoch

pslewis

Well, thats the deal on offer ............

Now I am chasing a secondhand one 250 miles away .... would that be covered under the distance selling regulations?

Pete