Vehicles must be reported sold, registered or titled only to the eligible Participant.
New Vehicle Purchase Plan transactions are subject to the following conditions:
- FOUR (4) new vehicles per calendar year may be purchased or leased.
- Purchases made by immediate family members do count towards your yearly allotment.
- The customer is responsible for all dealer documentation fees, federal, state, local taxes, license & title fees.
- The dealership may require the Purchase Plan customer to make a non refundable deposit when placing a vehicle order. Some or all of this deposit may be retained by the dealership if the customer declines to accept delivery of the product ordered. An agreement in writing should be reached with the dealership concerning the amount of the deposit and the conditions under which it may be retained by the dealership if the transaction is not completed.
- Lease transactions may require a refundable security deposit. The security deposit is held until the end of the lease and is refunded, provided that the lease terms have been satisfied. The deposit is usually equal to one month’s payment.
- The New Vehicle Purchase Plan will be available for one year intervals beginning at first available offering on your company’s behalf and will be automatically renewed on a yearly basis unless written cancellation notice is given to your company sixty (60) days prior to renewal date. Vehicles purchased by employees prior to the Purchase Plan offering date are not eligible for Purchase Plan price.