Buying a car without V5C - Warning

I happen to visit a car supermarket who stock hundreds of car. I was interested in one car, they told me it did n't have a V5C logbook. They told me, I would need to apply for a V62.

It is is a 3 year old car, with 39,000 on the clock.

The car dealership is reputable, so I have no worries about parting with my money.

They told me it happens a lot.

I am wondering under what circumstances, would a car dealer be selling a car without a V5C? How would they buy buying / sourcing cars without the V5C?

If this was an independent garage or private seller, I would have run a mile. However, I am intrigued.

Any pros / cons? Am I taking a risk?

I do like to see who owned it.....

Buying a car without V5C - Big John

For me no V5 = no sale

Buying a car without V5C - SLO76
No V5, no buy. I’ve never sold or bought a car without one. The car may have been repossessed, there may be a dispute over ownership or there’s something on that V5 they don’t want you to see, such as the last keeper having only owned it for a few weeks or months or it having been owned by a company or taxi fleet. Most likely it has just been mislaid but few dealers would take a part exchange without a V5 so I’ll bet they do have it. Tell them to supply one or buy something else.
 

Value my car