Form Requirements for Prior Demo Vehicles
Do we need to send the form acknowledging miles for new vehicles that were prior demos?
Guide to Handling Demo Vehicles in Sales
When dealing with demo vehicles that are being sold as new, it is essential to follow specific procedures to ensure compliance and maintain accurate records. This article outlines the necessary steps you need to take when selling a previously used demo vehicle.
Acknowledging Miles for New Vehicles
If you have a vehicle that was previously used as a demo, it is mandatory to send the appropriate form acknowledging the mileage. This step is crucial for:
- Maintaining accurate records of vehicle history.
- Ensuring compliance with documentation processes required by law or company policy.
Mileage Thresholds and Reporting Requirements
A demo vehicle that has accumulated 10,000 miles requires special attention due to its mileage exceeding the threshold typically allowed for new vehicles. In such cases:
- You will need to provide a used report of sale since the mileage indicates that it cannot be classified strictly as "new."
- This report helps clarify the condition and history of the vehicle for potential buyers.
Documentation Needed for Sale
In addition to acknowledging miles, certain documents must be completed before finalizing any sale of prior demo or executive vehicles:
- Signed REG 496 (Demo Certificate): This document certifies that the vehicle was utilized as a demonstration model and provides important details regarding its usage.
Need Assistance?
If you have further questions about handling forms or require assistance with completing any necessary paperwork related to demo vehicles, do not hesitate to reach out! Our team is here to help guide you through this process efficiently.