Looking at New Car Finance? Then you need to understand Why Build Date Vs Compliance Date Vs 1st Registered Date is important data.
A car’s age will affect its resale value when selling. The build plate, which can usually be found on the firewall between the engine and passenger compartments, is affixed to a motor vehicle when it is assembled.
The build date differs from the car’s compliance plate date, which confirms that the vehicle complies with Australian design standards for safety and emissions. The date shown on the compliance plate is the date when it was fitted to the vehicle by the importer (for imported cars) or the manufacturer (for locally built cars).
With most vehicles, there will be a significant difference (several months) between the build date and the date of compliance due to shipping and storage time. The compliance plate may even be fitted in a different year.Eg: built 11/2016 compliance 2/2017
A vehicle sold NEW in 2017 with this info
- built 11/2016
- compliance 2/2017 is worth considerably less than a vehicle
- built 01/2017
- compliance 2/2017, because it will be valued as a 2017 vehicle in 4 years time and the first car example will be a 2016 model.
Most folks are not aware of this information and car dealers (if they can get away with it) sell the built 2016 vehicle at FULL price in 2017. If you know of it’s reduced value one can negotiate a saving of up to 10% off the New purchase price.
As the year progresses into March, April and May, some car dealers will still have unsold new vehicles in stock built in the previous year and their need to sell/move them becomes more urgent and they will consider a cheaper and cheaper selling price. Some dishonest car dealers will refer to the compliance date as the “important info” when selling new vehicles with a compliance date falling in the current year. Don’t fall for this trick.
Some years ago I saved $3,000 off a $33,000 New car price buying a new vehicle in February with December build date for the previous year.
When buying a used car privately or from a dealer be sure to check the BUILD Date info on the vehicle yourself to ensure the seller isn’t quoting a compliance date or even some dishonest folks quote the 1st registered or new car purchase date.
New Car Finance Advice
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