This is really a sign of the times- Piaggio group is giving people a full year of riding their scooters to decide if they want to keep them. With the economy in shambles, people are simply not committing to big new purchases so like some of the auto makers, they are pulling out all the stops. This seems like a good way to lose a lot of money since quite a few people will undoubtedly get tired of the scooter scene or simply decide they are not the right form of transportation for them. But, the precedent that is being set is somewhat frightening since you can not survive in an industry like this by taking your product back a few months later. Harley is doing this and it is called repossession- and they are losing money hand over fist. In essence, this is a 12 month lease and Piaggio is betting that the scooters will still be worth what is owed on the last 2 years. Details on the Piaggio website
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NEW YORK, June 1, 2009 – Piaggio Group Americas, Inc., the importer of Vespa, Piaggio, Aprilia and Moto Guzzi scooters and motorcycles, has an offer that you just can’t refuse. If you’ve been tempted to join America’s rapidly growing scooter community but your plans have been on idle because you’re not sure whether you were born to ride, the time to discover your inner scooteristi is right now. Effective today, Piaggio invites consumers on a risk-free 12 Month Test Ride, an industry-first program that offers qualified buyers the opportunity to experience all the fun, savings and environmental benefits of select Piaggio, Aprilia and Vespa scooters without a long-term commitment. The 12 Month Test Ride offer includes the option to return the scooter to participating dealers after 365 days of ownership if the buyer decides that the two-wheel lifestyle just isn’t right for them after all.
…The 12 Month Test Ride is open to buyers who qualify for a 36-month closed-end finance term, exclusively offered through Piaggio Group America’s partner Sheffield Financial. To take advantage of the offer, the purchase must be completed by July 31, 2009. The risk-free return guarantee requires the completion of 12 scheduled loan payments and excludes upfront license, vehicle preparation, freight and tax fees as well as a 10% down payment based on the vehicle’s manufacturer’s suggested retail price.
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