It’s a CPO, not a loaner. They’re not the same thing.
Easiest way to do this is go to an individual dealer’s website and check there. Most MB dealers have a loaner/demo section. The ones that don’t, typically have demos/loaners listed as new cars for sale and if you see one with some miles on it, you’ll know it’s a loaner.
They’re not mutually exclusive. I’ve seen ex loaners for sale as CPO.
The CPO designation usually effects the ability to lease the vehicle correct? Or rather it excludes it from the “new” car rebates/special offers?
That’s my understanding. But who knows?
CPO is a used car. Leasing a demo is leasing a new car.
They can cpo a demo. I just did one last week, at least for Mercedes
Yeah but once it’s CPOed, it can’t be leased.
I think it depends on the OEM. Some brands allow new car lease programs to apply to any previously untitled vehicles.
OK. I thought we were talking just about MB.
You can also lease used cars with some manufacturers. I know Toyota did it a couple of years ago on Tundras.
A client just leased a certified '17 p3 e300 last week
I was told by more than one dealer that is an un-possible act. Oh well, I guess I’ll know for next time.
Was it leased a new or used, ie did it qualify for the new lease residual and MF?
Thanks for all the replies! So, it sounds like there is some debate on whether a CPO can be leased or not.
I will take Boomba’s advice though and start looking for cars that are listed as new on the Dealer site but have some miles on them.
Yes it was new mf and residual
Good numbers?
20char
Well @nyclife was confirmed that you can and that he actually recently did… not really a debate. Might change from brand to brand but on MBs it is possible and has happened recently.
Not sure how legit it was, sounded like the guy didn’t know what he was doing. I didn’t go through the main dealer I went through another dealer in the group. Anyways it was 499 w/ 8 in change upfront 6k in msd. Isn’t the best deal but one of the only p3 loaners on the east coast
For BMW, you can lease a CPO which was a demo.
For BMW, I think you can only lease CPO Elites (demos/loaners), not regular CPOs.
Thank you for more detail. Yes, you’re correct!
While poking around a few of the local MB sites to see what I could find I came across this
https://www.mbzno.com/cpo-lease-specials/
None of the other sites had a CPO lease section. I haven’t had much luck finding a demo/loaner section on any of the dealer sites or identifying new cars that may have been loaners.
My MB store told me that if an MB is CPO’d it is technically “Pre-owned” (as they have been registered to be considered pre-owned) and can not take advantage of the “New car” lease programs (special MF, trunk money, etc.). The trunk money (which can be significant) is not applicable on CPO’s vehicles as it would have already been taken by the dealership when registering the car. That said the dealership is still able to pass it on to you if they chose to take a lower margin on the vehicle.
What’s more CVP (Courtesy vehicle Program) cars continue to receive compensation from MBNA in the form of mileage reimbursement, reducing the vehicle’s cost the more miles that are accumulated. CVP vehicles need to be in service for certain amount of time to receive this money from MBNA (typically 90 days?). However, if the CVP vehicle exceeds 3,000 miles then the residual is negatively affected by $0.20 per mile in excess of 3,000 miles.
The best way to take advantage of the CVP program in order to lease an MB is to secure one with between 3,000-5,000 miles IMHO. By doing so you may be able to secure a relatively good value on the car (starting with 6-7% off the MSRP) plus take advantage of any trunk monies and MBNA CVP reimbursements as well as leverage any other new car program discounts (Fleet, United MileagePlus, MBCA coupons, guest coupons, etc.) without significant impact on RV. As an example, the CVP E300 I leased was 21% off of MSRP.