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NYC is cashing in on VIP demo leases
For the business savvy bargain hunter leasing, a demo model could really add thousands to your pocket. It has been a commonly understood wisdom that buying a demo car can be advantageous in terms of preserving warranties and having the recompenses of a new car but is there a way to actually lease such a model. Wherever there is a will there is a way and with careful consideration, you can negotiate some favorable lease terms.
What is a demo model?
Let us be clear about what is a demo car. These cars are for test driving purposes and could potentially clock up some 1000-3000 miles. These are not to be confused with program cars which are driven by manufacturer representatives and then distributed to dealers to sell. They may have 10,000 miles on the clock before they are sold.
If you think that many people have test driven this model you need to keep your eyes open for flaws and nicks. It is not just on the outside that you have to check for signs of wear and tear. Look at the upholstery and examine the dashboard for scratches or sun damage. Don’t be shy-lift the hood and see what the engine looks like -it should be in pristine condition. These are all checked off against the residual value of the car at the end of the lease term so it is wise to negotiate terms when you are well informed.
Close inspection of the demo car
Those are the things that you can see for yourself but what about the hidden history of a car. A customer should be given the maintenance details even if it is a few months old. The newness of this car should imply that there has been no damage to the vehicle and an informed shopper will be in a position to understand how the lease terms will be calculated. Remember that the condition of a demo car is important to the dealer as this is his sales tool and so will be cared for.
As most demo models are not registered then the vehicle should have all the same warranty terms as a new car. A driver can also purchase an extended warranty if necessary and enjoy the comfort and reassurances that this provides. You will enjoy the benefits of new car maintenance from the manufacturer.
Clear details in the leasing contract
The main thing that depreciates a lease car’s value is mileage. If you are a low mileage driver this will give you great incentive to lease a demo model. You lose part of the residual as it gets adjusted for the mileage already on the clock. There is usually a set amount per mile that reduces the residual value.
In leasing a demo model you will be entitled to extra discounts whilst preserving the integrity of the warranty. As well as keeping the benefits of the manufacturer’s warranty you also have the advantages of rebates and incentives attributed to the vehicle you are leasing. You will be leasing a well-mainted vehicle at a lower rate because the dealer will build in
additional discounts so you will drive away a well maintained low mileage vehicle at a bargain price.