As you're reading this on Nearly-New-Car.co.uk, you probably already know your stuff when it comes to nearly new cars, also known as 'pre-registered cars'. But just in case you don't, we wanted to highlight some great reasons to look at purchasing a nearly new car, as opposed to a brand new car
So what is a pre-reg car?
Well, main dealers have sales targets to hit that are negotiated with the manufacturers. Achieving this target usually activates a bonus and these bonuses can be substantial. If a dealer knows they are unlikely to hit a target, often they will choose to purchase a number of cars from the manufacturer and register the cars to themselves as the first owner for the first 90 days (a legal requirement). This means that they'll activate the bonus payment which will outweigh the cost of buying the cars and selling them at a small profit (or even at a loss). After 90 days, these cars are made available to the general public with typical savings of 20%.
Faced with increasingly steep sales expectations from manufacturers, some dealers have become very dependent on attaining these targets for their income and as targets are set higher and higher, so their need for pre-registering cars grows.
Also manufacturers with more cars rolling off the production line than they can shift will offer them at a discount to dealers, if they in turn struggle to shift enough they can self-registering them and hit their bonus targets. The dealer can afford to sell them on cheaply as a nearly-new car and a savvy buyer can negotiate them all the way down towards cost price.
Here's a summary of the main advantages of buying a pre-registered car:
Get the car you want for less
Sometimes the car we really want is just out of our financial reach, or we just want to get a really good deal. This is where pre-registered 'nearly new' cars come in. Remember, the dealer needs to sell this pre-reg car stock because they have money tied up in them. The sooner they sell them, the sooner they can concentrate on hitting the current quarter's sales target. Pre-registered cars take up room in storage facilities and on forecourts. So dealers will slash prices on these cars in order to move them on. In fact, savings of several thousands of pounds are common, with some high-end luxury cars reduced by a staggering 35%! And because you know that they want to sell, you can haggle hard for an even better deal!
Avoid waiting lists
Depending on the make and model, there could be a waiting list of several months for the car you want. However, if you can find a dealer with pre-registered cars in stock that match what you're looking for, you can effectively jump the queue.
Get a better spec than you might otherwise be able to afford
Knowing that they will have to sell the cars quickly, dealers will often specify extras such as metallic paint and upgraded in car entertainment in order to tempt buyers. This means that you could get a higher specification car for less than the cost of a base model or lower specification car.
Arrange finance on the car
Main dealers often have access to competitive financing rates, so buying a pre-reg car from a manufacturer approved dealer on finance could work out to be a better deal than an older used car from an independent
It's important to note that there can be a few downsides to buying a pre-reg or ex-demo car. We cover these points in this article here. But if you want to get an typical saving of 20% off your new car, or even more, then haggle hard with the salesman and you could just get yourself a practically new car for cost price!
Our nearly new car locator makes it easy to find the pre-reg deals and sales events. Access it here.