Fleet News

Dire warnings over V5 change

TWO major remarketing companies have added their voice to calls for fleets to look after V5 documents to ensure vehicles are saleable at disposal time.

From February 1, car owners will have to present a V5 document in order to obtain a vehicle tax disc. It is therefore vital for the appropriate part of the registration document to be passed on to the buyer when the vehicle is sent for auction or sale.

This week, fleet and finance remarketing company Cars Direct has added its weight to warnings that fleets could be damaging resale values if cars are put on sale without V5s. Managing director Roger Woodward said: 'The trade is reacting very early to these changes which are not due until next February.

'But the message is clear, delay in waiting for a new V5 could be a number of weeks and will involve more administration and that time will affect residual values.'

Vehicle Remarketing Solutions managing director Mike Pilkington added: 'Fleet operators will have problems re-marketing a vehicle without a V5. This will impact on residual values of vehicles without V5s. Fleet operators should act now.'

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