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CAP warns of V5 market disruption

CAP has warned that new rules on registration documents could cause significant disruption in the used car market when they are introduced next February.

From then, cars cannot be taxed without the production of a V5 registration document or V11 renewal notice. Currently, vehicles regularly change hands with the V5 missing, or promised to follow. The new keeper is then able to re-tax the vehicle and apply for a new V5.

CAP's national research manager Martin Ward says: “A car that cannot be taxed may suddenly become technically worthless or, at best, command a significantly lower value in the used market due to the fact that it cannot be taken onto the road legally.

“And fleets, especially must take steps now to ensure they have the V5 for every vehicle or they will suffer serious financial penalties on disposal.”

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