How Long Does a New Car Qualify as Inventory Vehicle?
1 Answers
There is no legal definition for the term 'inventory vehicle'; it is an industry-specific term in the automotive sales sector. Generally, domestically produced joint-venture or self-owned brand cars that have been in stock for more than three months to half a year are considered inventory vehicles. For imported cars, due to the time-consuming processes of transportation, customs clearance, and import procedures, the threshold is more lenient, typically extending to six months or a year. Below are solutions if you purchase an inventory vehicle: 1. The production date of the vehicle can usually be found on the car's nameplate, located on the side of the passenger seat or in the engine compartment. The time elapsed since the production date indicates the duration it has been in inventory. 2. There are no specific regulations regarding whether consumers who purchase inventory vehicles are entitled to extended warranties or special after-sales services. However, if a 4S dealership intentionally conceals the fact or if the car is sold as a new vehicle within one year but turns out to be older than a year or even more, this constitutes fraudulent behavior. In such cases, the consumer is entitled to demand compensation equal to three times the price of the product or service.
