How to Buy a Loaner Car from a Dealership?

 

A loaner car is a vehicle provided by a dealership to customers whose cars are being serviced or repaired. These cars are typically newer models and are well-maintained because they are part of the dealership’s fleet. Sometimes, dealerships sell these loaner cars after they have been used for a certain period.

If you’re wondering how to buy a loaner car from a dealership, it’s important to understand that these vehicles are often in excellent condition due to their limited use and frequent servicing. Loaner cars are usually driven only for short periods and by multiple drivers, ensuring they don’t accumulate excessive wear and tear.

Why do dealerships offer loaner cars?
Dealerships provide loaner cars as part of their customer service. When your car is in the shop, having access to a loaner ensures you can continue with your daily routine without interruption. This builds trust and loyalty between the dealership and its customers. However, once these cars reach a certain mileage or age, dealerships may decide to sell them. 

This is where opportunities arise for buyers looking for reliable vehicles at competitive prices. Loaner cars are not like typical used cars; they are often returned to the dealership in good condition, making them an attractive option for budget-conscious buyers.

Steps to Buy a Loaner Car

Buying a loaner car involves several steps, but it’s a straightforward process if done correctly. Here’s how you can secure one:

Research the dealership's policies

Before approaching a dealership about purchasing a loaner car, research their policies regarding selling such vehicles. Not all dealerships sell loaners, so confirming this beforehand saves time. You can call ahead or visit the dealership’s website to gather information. Some dealerships might even list loaner cars under their "certified pre-owned" inventory since these vehicles undergo regular inspections and maintenance. Knowing whether the dealership allows purchases will help you avoid unnecessary back-and-forth conversations.

Inspect the condition of the loaner car

Once you’ve identified a dealership that sells loaner cars, inspect the specific vehicle you’re interested in. Even though loaner cars are generally well-maintained, it’s crucial to check for any signs of damage, unusual smells, or mechanical issues. Pay close attention to the exterior, interior, tires, and engine performance.

If possible, take the car for a test drive to ensure everything functions smoothly. Additionally, ask for the vehicle’s service records to verify its maintenance history. This step ensures you’re getting a quality product when figuring out how to buy a loaner car from a dealership.

Negotiate the price

Loaner cars are priced differently from standard used cars, so negotiating is essential. Since these vehicles are technically considered “used,” dealerships may be willing to offer discounts. Use tools like Kelley Blue Book (KBB) or Edmunds to determine the fair market value of the car. Highlight any minor imperfections during negotiations to justify a lower price. Remember, dealerships want to move these cars off their lots, so don’t hesitate to negotiate confidently.

Finalize the purchase

After agreeing on a price, finalize the paperwork. Ensure you understand all terms, including taxes, registration fees, and any extended warranties offered. If financing is required, discuss loan options with the dealership or explore external lenders. Once everything is settled, congratulations, you now own a loaner car!

Benefits of Buying a Loaner Car

Lower mileage compared to used cars
One of the biggest advantages of buying a loaner car is its relatively low mileage. Unlike traditional used cars, which may have thousands of miles accumulated over the years, loaner cars are driven sparingly. They are used primarily for short trips around town while customers’ vehicles are serviced. This results in significantly fewer miles on the odometer, making them feel almost new.

Regular maintenance history
Another benefit is the consistent maintenance these cars receive. Dealerships perform routine checks and repairs to keep loaner cars in top shape. As a buyer, you’ll gain access to detailed service records proving the car has been cared for properly. This transparency gives peace of mind knowing the vehicle hasn’t faced neglect.

Potential warranty coverage
Many loaner cars still fall within the manufacturer’s warranty period. Depending on the make and model, you might inherit some remaining coverage, saving you money on future repairs. Always confirm warranty details before completing the purchase.

Things to Watch Out For

Hidden fees or additional costs
While loaner cars are appealing, beware of hidden fees. Some dealerships add administrative charges or other costs that inflate the final price. Carefully review the contract to identify unexpected expenses.

Wear and tear on the vehicle
Despite being well-maintained, loaner cars experience wear and tear due to frequent use by different drivers. Look for scratches, dents, or interior damage that could affect resale value.

Limited selection of models
Dealerships typically stock only a few loaner cars, limiting your choice. Be flexible with your preferences or consider visiting multiple locations to find the perfect fit.

FAQ:

Can anyone buy a loaner car from a dealership?

Yes, most dealerships allow anyone to purchase a loaner car, provided it’s available for sale. However, availability depends on the dealership’s policy.

Are loaner cars cheaper than regular used cars?

Generally, yes. Loaner cars are priced competitively because they’re technically used, but often in excellent condition.

Do loaner cars come with warranties?

Some loaner cars retain portions of the original manufacturer’s warranty. Check with the dealership for specifics.

What should I inspect before buying a loaner car?

Inspect the exterior, interior, tires, brakes, and engine. Also, request service records to verify maintenance history.

Is financing available for loaner cars?

Yes, many dealerships offer financing options. Alternatively, you can secure a loan through banks or credit unions.

Conclusion

Purchasing a loaner car from a dealership can be a smart decision if you’re looking for a reliable, low-mileage vehicle at a reasonable price. By understanding how to buy a loaner car from a dealership, researching policies, inspecting the car thoroughly, and negotiating effectively, you can secure a great deal.

Keep in mind the benefits, such as lower mileage and regular maintenance, but also stay vigilant about potential drawbacks like hidden fees. With careful consideration and proper preparation, buying a loaner car can be a rewarding experience.