Driving New Cars For Free: Is There A Catch?
I am happy to share a little-known secret with all of you. You can drive new cars for free, without having to pay a penny in monthly payments! You don't need your own car, there's no credit check or down payment needed, and you only have to give the car back after 2 years.
It sounds too good to be true because it is. There are some caveats that come with driving new cars for free:
-You need to live near an auto manufacturer's headquarters and/or factory.
-You will have limited eligibility as some manufacturers only offer the program for certain types of vehicles (i.e., luxury cars).
-You will be required to test drive the cars you are driving, plus additional cars in the same category.
-You will have a limited area to choose from (i.e., Ford dealerships within 3 hours of Detroit).
-You need to use your own insurance provider and pay out of pocket for maintenance.
-You need to follow certain rules that are specific to the manufacturer's program.
Sorry if you were expecting some miraculous way of getting a new car at no cost. Now that we've got that out of the way, let's look at how this exclusive shindig works...
HOW IT WORKS...
I don't know about you, but I am a sucker for anything that seems too good to be true. It's no different when it comes to the auto manufacturers giving away "free" cars to the public. It sounds too good to be true, and it is. There are no strings attached to this program and there's virtually nothing you need to do other than show up at a local dealer of your choice and drive around town in borrowed or loaner cars. Let me elaborate...
The program is organized by the auto manufacturers and is made available to people who live within 3 to 4 hours of the dealership in question. At that point you can choose from a wide range of cars (depending on availability) and choose which one you want. After signing all your paperwork, you'll be given the keys to your car and are free to drive away. However, unlike most other "free" things, this one is not completely free--the deal goes much deeper than just getting a brand new car for nothing.
WHERE THIS ISN'T FREE AT ALL...
The main issue with accepting this "gift" is that there are several strings attached which can make it seem much less appealing. First and foremost, the cars you get to drive are only available at that dealer's location. In other words, it's not a lease program so you cannot drive the car to another city or state to see if you like it. The manufacturer only allows people who live within 3 to 4 hours driving distance of the dealer's headquarters to participate in this program. Next, you are required to test drive several cars--some manufacturers require test drives on as many as five different vehicles before you can even consider signing your paperwork (and all those test drives come out of your pocket). Third, you have to pay for all the repairs on every car. Finally, you have to follow the manufacturer's rules--which are strictly enforced (and quite strict at that).
If you think that the manufacturer is only giving away cars under warranty and there will be no worries, think again. Many manufacturers make their cars available to anyone who wants to drive them but require that you sign a lease or purchase agreement and pay for all repair work. Also, even if it's through a dealer's factory store (i.e., buying from an individual), these cars are still subject to warranty restrictions and same-as-new policies.
THE DOWNSIDES...
The free car program does come with its drawbacks. For one thing, there is a crazy-long waiting list for each model that's participating. In some cases, the waiting list is over 2 years long! You also have to be willing to drive 2 different cars on a day-to-day basis and you need to pay for all repairs on those cars--even if they seem minor (i.e., replacing tires or an air filter).
To make things worse, you are only allowed to keep the car for up to 2 years. In some cases, the car actually has to be in the shop more than once during those 2 years. This means that you will be expected to drive a new car for free for 4 years--the initial two years are on your dime and the second two are on the auto manufacturer's dime. And then, you have to give it back when it's time for your next vehicle. What a deal!
THE THINGS NEEDED...
For those of you who are wondering how you can get "free" cars, here are some things that you'll need:
-A qualifying credit score (around 640+).
-A car that's at least 10 years old.
-A willingness to drive 2 different cars (which can be difficult/painful depending on the make/model).
-A willingness to get stuck with expensive repairs when it's time for your next vehicle.
The "free" program is not something that you want to do if you don't know what you're getting yourself into. There are certain things you will need in order to take advantage of this deal; and those things are: 1. A qualifying credit score (around 640+). 2. A vehicle at least 10 years old--the older the better (thus giving yourself more time between payments). 3.
Conclusion