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Just looking at Manheims auction list for Thursdays sale and note a lot of the cars that may interest me are listed as "No V5". Why is this, and is it a problem?
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Someone who knows the proper answer will be along soon, but there was a time about a year back when dealers steered clear of such cars due to the lengthy procedure to get a replacement (before they could sell the car). So without a V5 they were (in theory) a bit cheaper. Auctions suddenly started announcing wheter or not the car had one (BCA do it too)
I think the process has improved but they'd probably still choose one with, over the same car without.
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Thanks for that, I've also now found the info in the small print, so understand it's no problem, just a possible wait of 6 weeks to get a new one. It does say you won't be able to tax the car until you have the V5, although I'm not sure I've had to show a V5 when taxing a car.
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Some of them will be "reposessions";you get a replacement from the DVLA or it's local office.
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I believe that you can't now tax a car without either the reminder, a V5C or a V5C/2 new keeper's supplement. Hence if you buy an un taxed motor without a V5 you won't be able to tax it till you've got one. You will also need to apply for a new one, and DVLA charge for this AFAIK. Suspect most auction cars without V5 will be repos.
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Thanks Richard ( and others) That clarifies things. I'd rather avoid repos. anyway on the assumption that maintenance was low on the priority list.
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Without the V5, you can't register the car with you as the "keeper". Most, if not all, insurance companies will only insure you as a private individual where you are the registered keeper of the vehicle you want to insure.
Therefore until you get the V5, you cannot insure the car. Without insurance you cannot tax the car (notwithstanding that you do need the new keeper supplement, V5, or reminder to tax the car anyway).
This means you will be buying a car that you then have to pay for a replacement V5 and wait for however long the DVLA takes to issue the new one to you before you can drive it on the road. It would need to be a hell of a lot cheaper for that to be worth it, and that is before you factor in any speeding offences you commit can come back and haunt you more than 14 days later, as they couldn't serve the Notice of Intended Prosecution within time as the incorrect keeper details were with the DVLA.
Also you cannot transfer a private plate to the car, until you get the V5, if that is your prediliction!
Looks like it is a steer clear, unless you can lay the car up for a while off road and save enough for this to be worthwhile.
Posting, as always, in the hope that it helps.
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...but as I mentioned above, dealers will steer clear for the same reasons, therefore bargains should have have-able. Btw I've occasionally seen them in ex-lease auctions at BCA - I've always assumed the lease company/lessor company had mislaid them, rather than repos.
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Also watch out for missing service history books, "master" keys and the like if they repos.
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Thanks again, all useful help. We're off to Mannheims this afternoon, there are about 12 cars of interest with V5's, only about 5 without, so we'll probably give the one's without V5's a miss.
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Ignore the catalogues - they are often wrong. Check what gets announced when it comes through to verify V5 status.
A surprising number of ex-fleet cars have no V5 and an even larger number have no second key and no history.
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