What are Pre-Registered Cars?
What Is A Pre Reg Car?
Pre-registered cars are just like new cars, the key difference being that they are have already been registered before they go on sale. Typically, a pre-registered car is physically absolutely no different to a brand new car and you will still be the first person to use the car.
It Sounds Like A New Car - What's The Difference?
Well, a pre-registered car may well be equally new, shiny and unused as an actual new car, but the crucial difference is that the buyer will be the 2nd owner of the car. A car's warranty also starts to count down the day it's registered, not the day it's sold. That means a pre-registered car may have already lost several months of its warranty before it's first driven.
That also means the cash price can be considerably lower than the equivalent new car meaning there is a potential to bag a bargain.
So Why Do We Pre-Register Cars?
Manufacturers are measured against each other in terms of cars registered, not cars sold. This means, at certain times, there are reasons why we want to register a car even if it isn't sold, potentially to hit a target, maybe because of a newer model soon to be released.
What Are The Drawbacks?
Pre-registered cars do not have the same consumer finance offers as new cars, such as low APR, deposit contributions etc, as these have been converted into a discount on the cash price.
The cash price for a pre-registered car will be less expensive, considerably in some cases, but the finance payments may work out better value on a new car, as it may have 0% finance.
Generally, you will have a smaller selection of colours and models, as we can only register cars we have in stock at certain times, when the opportunities arise.
Luscombe Summary
Pre-registered cars aren't always available, and when they are, colours, model variants etc may be limited and you may want to do your research into whether the finance offers may be better on a brand new car, but if you're a cash buyer and being the 2nd owner on the log book doesn't bother you, then a pre-reg may offer you exceptional value for what feels like a new car.
