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Previous monetary harm
In your experience is there any evidence to suggest that vehicles having multiple previous owners has a negative effect on valuation for trade or private sellers to take into account in price setting?
I recently purchased an 'Approved Used' 3 year old VW Touareg from my local dealership. When I asked the question around previous owners / history, I was informed the car had been a demonstrator at that same dealership, then sold to a local private owner who had traded it back to the same dealership for another newer demo VW Touareg (I assumed x2 previous owners).
This underpinned my decision to buy based on trust, the benefits of Approved Used as well as the overall positive customer experience. On receipt of the V5 it turns out there were x3 previous owners (the last one visible and showing as the local private owner highlighted). I have contacted the sales person to query, who responded that it was a 'genuine error' and 'not to worry as it makes no difference when valuing' (assuming I was to trade in back with them). I have contacted DVLA but have to send in a query form with £5 to find out precisely who the other x2 owners were.
I am unhappy with this situation, as I now feel somewhat misled. My own perception is that a used vehicle with fewer owners and a clear history is a more attractive proposition to any buyer that in turn affects valuation. I have asked the dealership to detail back to me the history of the other x2 owners.
What redress do I now have with the dealership? A positive customer experience has quickly turning into a negative one. Thank you in anticipation for any advice, yours sincerely.
I recently purchased an 'Approved Used' 3 year old VW Touareg from my local dealership. When I asked the question around previous owners / history, I was informed the car had been a demonstrator at that same dealership, then sold to a local private owner who had traded it back to the same dealership for another newer demo VW Touareg (I assumed x2 previous owners).
This underpinned my decision to buy based on trust, the benefits of Approved Used as well as the overall positive customer experience. On receipt of the V5 it turns out there were x3 previous owners (the last one visible and showing as the local private owner highlighted). I have contacted the sales person to query, who responded that it was a 'genuine error' and 'not to worry as it makes no difference when valuing' (assuming I was to trade in back with them). I have contacted DVLA but have to send in a query form with £5 to find out precisely who the other x2 owners were.
I am unhappy with this situation, as I now feel somewhat misled. My own perception is that a used vehicle with fewer owners and a clear history is a more attractive proposition to any buyer that in turn affects valuation. I have asked the dealership to detail back to me the history of the other x2 owners.
What redress do I now have with the dealership? A positive customer experience has quickly turning into a negative one. Thank you in anticipation for any advice, yours sincerely.
Asked on 28 November 2011 by JC, Nottingham
Answered by
Honest John
Yes. They can be savagely bid down at auction. I saw a nice looking Ferrari 550 with 12 previous owners fail to crack £30k at auction once. (Yes, I know I should have become the 13th.) But a difference between 2 previous and 3 previous is not really enough to make an issue of.
Tags:
auctions
valuations
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