Fleet News

Cash-back deal for non-V5 buyers

VEHICLE remarketing firm GRS is offering a money-back guarantee to customers who buy a car from the company without its V5 documentation.

The company says its guarantee takes the pressure off dealers who are trying to source vehicles without waiting up to six weeks to receive the documentation.

Since February 1, a valid V5 registration document has been needed before a vehicle can be taxed. It is part of a Government initiative to combat crime. GRS estimates that since the legislation there is an industry average of 75% of vehicles being sold with V5s.

GRS managing director Kerry Finnon said: 'We understand the problems our customers are already having with V5s and it will get worse before it gets better. Dealers have made it clear to us the V5 is their number one issue and I'm proud to say that we can now give a firm assurance. Our money-back guarantee provides members of the GRS Trade Buyers Club with a real competitive edge, freeing-up stock to go straight onto the forecourt and keeping cash flow healthy.'

Fleet decision-makers have been warned that they could leave their companies in a financial black hole unless they act on the major changes.

Tony Styles, senior editor of CAP Black Book, warned that finance companies which took residual value risk for vehicles face heavy financial penalties if their customers fail to keep the correct paperwork in order.

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