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re: Did I just get a free truck?
Posted on 9/16/14 at 7:52 pm to VetteGuy
Posted on 9/16/14 at 7:52 pm to VetteGuy
This topic makes me chuckle.
1) the vehicle still belongs to the dealership. You agreed to make a loan with a bank to borrow money to finance the vehicle that belongs to the dealer not you. If the bank bounces the contract then your only option is to get financing done from another lender.
2) A demo is not considered a "used" vehicle; A vehicle has to be titled and then traded in for it to be considered preowned. I see them in demo mode sometimes up to 10,000 miles and still sold as "new" vehicles.
3) At least you are trying to call the dealership and amend whatever the frick went wrong here, whether it was no POI, no POR, etc. Good luck to you.
1) the vehicle still belongs to the dealership. You agreed to make a loan with a bank to borrow money to finance the vehicle that belongs to the dealer not you. If the bank bounces the contract then your only option is to get financing done from another lender.
2) A demo is not considered a "used" vehicle; A vehicle has to be titled and then traded in for it to be considered preowned. I see them in demo mode sometimes up to 10,000 miles and still sold as "new" vehicles.
3) At least you are trying to call the dealership and amend whatever the frick went wrong here, whether it was no POI, no POR, etc. Good luck to you.
This post was edited on 9/16/14 at 7:54 pm
2
Posted on 9/16/14 at 11:35 pm to basiletiger
quote:
2) A demo is not considered a "used" vehicle; A vehicle has to be titled and then traded in for it to be considered preowned. I see them in demo mode sometimes up to 10,000 miles and still sold as "new" vehicles.
Sure you can sell it as a new vehicle, but you also better display a Used Car Buyer's Guide on a demo vehicle.
Posted on 9/16/14 at 11:39 pm to basiletiger
Directly from the FTC.
Previously titled or not, any vehicle driven for purposes other than moving or test driving, is considered a used vehicle, including light-duty vans, light-duty trucks, demonstrators, and program cars that meet the following specifications:
• a gross vehicle weight rating (GVWR) of less than 8,500 pounds;
• a curb weight of less than 6,000 pounds; and
• a frontal area of less than 46 square feet.
Previously titled or not, any vehicle driven for purposes other than moving or test driving, is considered a used vehicle, including light-duty vans, light-duty trucks, demonstrators, and program cars that meet the following specifications:
• a gross vehicle weight rating (GVWR) of less than 8,500 pounds;
• a curb weight of less than 6,000 pounds; and
• a frontal area of less than 46 square feet.
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