Why Loaner Cars For Sale May Be the Best Buy
A loaner car is a vehicle that lives simultaneously in two worlds, it’s a new car, and it’s not, and a used car, and it’s not. That’s what makes loaner cars an excellent choice car buyers that want the ultimate in purchase flexibility.
Most new car dealers have and maintain a fleet of loaner cars. These loaner cars are used as service loaners, courtesy transport vehicles when picking up or dropping off clients, etc.
Dealerships pay for the vehicles in their inventory monthly on something called a “floorplan”, and just like new vehicles, loaner cars are also being paid for on the same floorplan.
Like any retailer, car dealers need to “turn” inventory, meaning, sell what they have in stock. And like any retailer, the longer inventory sits in stock, the more money they lose, which is why dealerships are extremely motivated to sell vehicles that have been sitting in inventory longer.
Often dealerships end up with a bloated fleet of service loners and those loaners cost them a lot of money! And when something is costing a dealership a lot of money, a deal is never very far behind.
When it comes to buying a loaner vehicle, there is little downside.
- Loaner cars are impeccably maintained, it’s mandated by the manufacturer that any vehicle in a dealer’s inventory be maintained according to the factory guidelines.
- Drivers of loaner cars tend to treat them well (as opposed to rental cars) because they are returning it to a dealership they frequent, a dealership that is in possession of their vehicle, and more than likely, a dealership they will frequent again.
- Piece of mind. A loaner car is covered under the manufacturer’s new car warranty, and with some manufacturers, you may also qualify for the certified pre-owned warranty.
- Financial flexibility. With many manufacturers and lenders, a loaner vehicle can be financed or leased as a new or used car, allowing the buyer to take full advantage of all the buying incentives available.
The bottom line is when you’re out shopping for a new or a used car, ask the dealership what loaner cars they have for sale, you just may end up leaving with a great car and the deal of a lifetime.