Number of Owners
Discussion
Recently purchased an AUC from a main dealer for my partner, payed a little over the odds for the peace of mind for the warranty and pre-inspection etc.
Specifically asked the dealer about the number of previous owners to be told 3 (I have this confirmed in a e-mail from the salesman) only to find when the V5 has arrived the number of previous owners is 6!
Given the car is 6 years old, it's a z4 coupe so fairly specialist. 6 owners doesn't ring too many alarm bells with me. After all we have a full warranty in case anything goes wrong. But my partner is slightly less forgiving (Litigation lawyer) and is not pleased at all with the situation.
I've approached the dealership and asked them to confirm why there is a discrepancy and what they intend to do about it but am yet to receive a reply.
Should I be concerned and what would you expect in response from the dealer. Not sure how hard / or even if I should be pushing this.
Specifically asked the dealer about the number of previous owners to be told 3 (I have this confirmed in a e-mail from the salesman) only to find when the V5 has arrived the number of previous owners is 6!
Given the car is 6 years old, it's a z4 coupe so fairly specialist. 6 owners doesn't ring too many alarm bells with me. After all we have a full warranty in case anything goes wrong. But my partner is slightly less forgiving (Litigation lawyer) and is not pleased at all with the situation.
I've approached the dealership and asked them to confirm why there is a discrepancy and what they intend to do about it but am yet to receive a reply.
Should I be concerned and what would you expect in response from the dealer. Not sure how hard / or even if I should be pushing this.
For starters the number of previous owners is not 5% of any consequence as of the condition of the car itself.
Nevertheless, as you yourself amply demonstrate, rightly or wrongly it matters to some people.
And if it does, it affects resale. Perhaps it's worth less to some people, perhaps it will just take a little longer to sell, perhaps it won't make a jot of difference when you do move this on.
But the simple fact is that you paid what you paid for a 3 owner vehicle and you got a 6 owner one.
I would argue with the dealer that the car is worth less because of this and you expect to have this discrepancy compensated for.
And take it from there.
Nevertheless, as you yourself amply demonstrate, rightly or wrongly it matters to some people.
And if it does, it affects resale. Perhaps it's worth less to some people, perhaps it will just take a little longer to sell, perhaps it won't make a jot of difference when you do move this on.
But the simple fact is that you paid what you paid for a 3 owner vehicle and you got a 6 owner one.
I would argue with the dealer that the car is worth less because of this and you expect to have this discrepancy compensated for.
And take it from there.
That's the tact i've took so far with the dealer. Awaiting response but not sure how hard to push it. Intention is to keep the car for a few years so it should even out slightly, but I understand it will be a problem to some people.
Not sure how to put a monetary value on it though, suppose I'll see what they come back with and take it from there.
Not sure how to put a monetary value on it though, suppose I'll see what they come back with and take it from there.
Your attitude depends on where you are along a spectrum.
If you're keeping it for 15 years, the impact that the number of owners has is minimal.
If you're selling it in 6 months, it's not. Its resale value will be less as a result. We could argue about the pros/cons of it, but it's true that the market value of a 7 owner car will be less than a 4 owner car.
Where you are along that spectrum, and how bothered you are by that, is up to you.
If the salesman put it in writing that it was a 3 owner car- and you've made sure he didn't use any get-out phrases- then I would expect some redress. Good luck, OP.
If you're keeping it for 15 years, the impact that the number of owners has is minimal.
If you're selling it in 6 months, it's not. Its resale value will be less as a result. We could argue about the pros/cons of it, but it's true that the market value of a 7 owner car will be less than a 4 owner car.
Where you are along that spectrum, and how bothered you are by that, is up to you.
If the salesman put it in writing that it was a 3 owner car- and you've made sure he didn't use any get-out phrases- then I would expect some redress. Good luck, OP.
6 Years old and 6 owners. That would put me right off. I wouldnt be surprised if some owners got a service bill and thought it better to be shot of it as it might not get used often and so not worth the bill when its nice and easy nowadays to get a new car instead.
I would certainly be taking the car back to the dealer and parking it on their forecourt somewhere obvious until they resolved it with you.
I would certainly be taking the car back to the dealer and parking it on their forecourt somewhere obvious until they resolved it with you.
Edited by Madkat on Tuesday 25th February 12:47
I recently sold a MINI cooper S that had 5 previous owners, the amount of people that asked 'how many owners?' and were then not interested in the car because of the amount of owners was surprising.
I bought on condition, but the majority of people don't.... they think that 1 owner and FSH is the Holy Grail of buying a 2nd hand car, when in reality, condition and whether or not the car has been looked after is key
I bought on condition, but the majority of people don't.... they think that 1 owner and FSH is the Holy Grail of buying a 2nd hand car, when in reality, condition and whether or not the car has been looked after is key
recordman said:
WBAC always asks how many owners, so it must be important. Why not enter the car's details on there and alter the number of owners and see how it affects the value.
This, it will give you concrete evidence as to the affect on value. on top of that you have to factor in the reduction in desirability.Please let us know your findings
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