Fleet News

Manheim applies brakes to vehicles without V5s

FLEETS, manufacturers and dealers have adapted their internal disposal processes over the past 12 months to ensure all used vehicles are sold with V5 legislation.

The trend has been noted by Manheim Auctions, which has applied a policy of withdrawing vehicles without V5s from sale, until the new paperwork is sent by the DVLA.

Martin Potter, Manheim Auctions' corporate sales director, said: 'This is very much in our customers' interests and we have worked hard with them to change internal procedures to minimise the negative effect on residual values.

'Either we flag up a vehicle without a V5 when it arrives at auction or we know where a vendor has already applied for the new paperwork from the DVLA.

'If we do not have the V5 within 10 days we constantly chase our customer until we get it.'

The company said vendors can lose out when the process of replacing new V5 documentation rolls over into a new month, with potential price reductions in the latest CAP and Glass's price guides.

Potter added: 'While this may downgrade the value of an average fleet car by up to a few hundred pounds, these instances are limited and it's essential to stick with the policy of waiting for the documentation before offering the vehicle for sale.

'Credit should be given to the DVLA which recognises the importance of this issue and whose strong relationships with major vendors mean new V5 documents are being replaced in just a few days.'

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment

Comments

No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee