After giving up on the idea of a New F250 6.0, I purchased a Dealer Demo (4,000 mile) F150 4X4 Laret. A two days after we closed the deal the dealer calls and wants me to resign the contract. Something about the bank loan and it not being listed as a "Used Demo". Two weeks later they call and ask me to sign a new registration application. To my suprise they have a new disclosure form, which states that the vehicle is a "Dealer Registered Vehicle". In addition the registeration paperwork now states that it is a used vehicle.

I told this was a Demo, but it is still considered to be New. Now I find out that it had been registered to a Spokesman for the dealer (a Hall of Fame Baseball Player). According to my attorney, I can make them take the vehicle back....or

Don't know what to do.....I like the vehicle, but will this be a problem in four years when I buy my F250/350.

 

it shouldn't be a problem....the only deal is that you will be listed as the 2nd owner. if that doesn't bother you, then you shouldn't have a problem. many banks and finance companies have certian requirements and disclosure regulations in order to protect you the consumer (ie: the make the dealer disclose that it is in fact used as a demo). if you like the truck and got a good deal then I'd say don't worry about it.

if you have had any problems or are having buyer's remorse, then I'd say back out now...otherwise, congrats on the new truck...maybe you can get a little bit more of a discount our a lower rate because of the problems!

 

good advice FM!
Since Mervin took the time to write that all out & did consult an attorney it appears that this "transaction" is on his mind.

And as you wrote/implied, it may bug him even more over-time.

BTW, our Navy CU would charge us a higher interest rate if it was "used"...they do have mileage limitations for classifying demos as "new" though (for financing and rates/down payment); believe it is up to 3k miles.

 

Check your state's lemon laws. Here in New York, new vehicles are covered for 24 months or 18000 miles, whichever comes first. The NY Attorney General says demos are used cars, and they are only covered for 90 days or 4000 miles. I don't see how you can find out in 90 days if a vehicle is a lemon or not. This is an important consumer benefit that I would not want to be without.

 

I spoke to the dealer about an 03 f250 that the manager of the dealership was driving as his personal vechicle. It had a couple thousand miles and,had been wreck and repaired by the dealer. Dealer said he could not offer any discounts as a demo or used vechicle because I was getting the lowest possible price with an A plan purchase. I assumed they didn't want my business with an offer like that.

 

I think the dealer has committed fraud and you are intitled to a full refund of all money and trade in,if they refuse sue in small claims for the difference in price from a new model to a used model,a new vehical loses almost half its value in just 3 years so you have already lost a significant amount right off the bat

 

I wouldn't go so far as to say fraud, it would probably be easy to assume the "spokesman" was the same as "dealer demo". That is, unless you consider the demo practice itself to be fraud, but every dealer in the world takes advantage of that law.

However, the car was represented to you as a demo, which is legally new, and turned out to be legally new. Instead of paying lawyers, and hollering fraud, try giving the dealer a chance to "make it right", especially considering it's costing you a higher interest rate. Who knows? The dealer may make you real happy.