New or Used

[LV702]

What is the name of your state? Nevada

Does anyone know when a vehicle is considered to be New or Used?
A Nissan dealership is trying to sell me a vehicle with over 500 miles on it, and they are claiming it is under the New Vehicle Criteria.

Also is it true that once you purchase a vehicle from a dealership, and drive it off the lot it depreciates 3 or 4 thousand dollars right off the top?

 

[Some Random Guy]

If its mileage makes you consider it used and worth less than a new car, then negotiate a lower price.

Don't buy what you don't want. Don't pay more than you believe its worth.

 

[fcobarr]

Sounds like a demo vehicle to me. A lot of times a dealer will claim new if it hasn't been titled yet and still has the manufacturers paperwork.

Once you drive a new vehicle off the lot, yes it depreciates considerably. It is now used. Can no longer be sold as new since it's been registered and titled. Some cars lose up to 20% of their value the first year. I wanted to lease a vehicle and the depreciation after 2 years was 46%. So, the payments were extremely high. Vehicles always depreciate. They should never be viewed as an investment or keeping their value. Some hold their value better than others, but they all go down. Unless, it's an antique, or something along the lines of a collector's item.

As Some Randon Guy said "don't buy what you don't want and don't pay more than what you believe it's worth" - good advice.

Good luck.

 

[JustAPal00]

It's considered new until it's titled. The definition of a new motor vehicle under the Automobile Information Disclosure Act. This Act defines a “new automobile” as “an automobile the equitable or legal title to which has never been transferred by a manufacturer, distributor or dealer to an ultimate purchaser.” I sold cars in the 80's, I worked at a Mazda dealer that had a three year old new car on the lot! We finally sold it. It was a 626 diesel!