What is a “pre-registered” lease car deal?
Many of the contract hire deals we offer are based on these types of cars and this shouldn’t cause any concern to a customer.
A “pre-reg” is simply one which has been registered at a certain time to secure an amount of discount.
For the customer, this generally equates to a cheaper lease deal. However, customers do have to understand that the registration of a vehicle could mean that the registration plate may not be a current one i.e. you can have an “18 plate” being delivered in October (when it should be a “68” plate). To assist our customers in these situations, we send the following information to them:
For you, the end user, this means that you need to be aware of the following:
· The Model Year of the vehicle may not be the “latest” one available to you – this forms part of a specific deal/offer which we are promoting;
· There may be time restrictions on the transaction – you may need to take delivery on or before a certain date and/or you may need to return your finance documentation to the finance company by a certain date (failure to do so may invalidate the deal);
· There may be conditions for when you must pay for the vehicle – you may need to pay the initial rental (as identified on your order) by a certain date; such amounts to be taken automatically by direct debit using the bank details you supplied us). In some cases you may pay for the vehicle BEFROE delivery due to logistic restrictions; and
· When a vehicle is registered this starts the process for a) warranty; and b) MOT. As such, when you receive a pre-registered vehicle you have the residue of the warranty only. Some contract terms will exceed the warranty period offered by this manufacturer. You may also have to MOT before the vehicle is returned. The MOT must be arranged by you and at your cost.
To confirm, do not be alarmed when your credit broker/dealer tells you a car is pre-registered. So long as the vehicle offers value, try to accommodate the warranty (go for a 24/30 month term) and be aware of the MOT (put the MOT due date in your diary).