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VED rules could clobbei used CVs' paperwork
Page 18
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• The road tax rules change in February—and Glass: Information Services (GIS) warns that the new syster could create a two-tier market for used CVs.
From next year it will be impossible to obtain a roe fund licence without the production of a V5 registratio document. This is designed to combat vehicle crime, bi. GIS says this could leave buyers of secondhand C4 unable to use them until replacement V5s have bee issued—which routinely takes up to six weeks.
George Alexander, GIS chief commercial vehicle ed tor, says: "The hassle related to applying for replacemer registration documents and the delays likely to arise fror the system being overloaded can only result in punitiv reductions in value for vehicles lacking documentation i• the time of sale.
"Those offered with a V5 will attract full market valuE those without will not."
A spokesman for the Society of Motor Manufacturer and Traders (SMMT) acknowledges Alexander's cor cerns: he suggests that legitimate owners should simpl apply for replacement documents before initiating a sak "There is clearly an onus or those selling a vehicle to prc vide the correct paperwork.
"Anything that helps to deter fraud and illegality in th sales of used vehicles will be welcome," he adds. "We'r not certain of the number of vehicles for which there i incomplete paperwork, nor why there should be inoon plete paperwork, But our advice is that if the paperwor isn't there, don't touch it."