02 March 2016
Old Car, New Car: Buying Pre-Reg and Selling Used
We bought a new car last week. Our old car we bought used in 2004 (2001 model) so got plenty of use out of it. We were again going to buy a used car so didn't look at anything new (in nearly 30 years of owning cars I've never bought a new one), just set a budget and figured out what we'd like. For years we'd been assuming our next car would be a VW but since they've gone evil we ruled them out and decided on BMW 1-series 5-dr hatchback.
We ended up buying what is essentially an actually new car. Looking at used cars I was a bit confused to see very low mileage cars in newest vintage that weren't demos. I hadn't heard of "pre-reg" ("pre registration"). Apparently it's a thing! At the end of the year, dealers can find themselves in a situation in which they are short a manufacturer's quota but can net themselves profit by buying their own inventory just to the point of hitting the quotas and getting their bonus from the manufacturer even if they then are obligated to sell those new cars as technically used and thus at a discount.
The dealer we went to explained that some years they have none, this year they had five. The price actually dropped several times by the time we bought ours. How big a discount? Well, the list price of it new was about 20% above dealer cost, and we bought it for about 7% below dealer cost (about 23% below list). I was still skeptical until the moment we got it. 10 miles on the odometer. Hadn't even been on the lot, still wrapped and in the distribution centre.
So I'm now a fan of pre-reg!
Then we sold the old car. I thought we'd try webuyanycar.com to see how it went and it went... surprisingly well! You give registration and put in as many details as possible and the site spits out a quote that's good for 7 days, pending an in-person check. They buy then sell on only through trade auctions. They've got kiosks all over the place. The nearest to us was a 14-minute drive away. The guy was really nice and marked down for some external damage, which was entirely reasonable, and the adjusted quote was well within our "yes we would sell it for this and not at all feel ripped off" range. A very simple and painless transaction all around. Would use again.
Posted by pyker at 12:29