THE GREAT STORM OF ’96 : New York Car Dealer’s ‘Snow’ Lease Promise Brings a Flurry of Interest

It must have seemed like a good idea at the time: clear out December’s inventory by offering customers free leases on luxury cars if it snowed heavily on Jan. 8.

The gamble may cost Manhattan-based Potamkin Auto Centers almost $1 million.

The dealership had promised that all cars leased between Dec. 22 and Jan. 2 would be free for the life of the lease if more than 4 inches of snow fell between 10 a.m. and 10 p.m. in Central Park on Jan. 8.

The dealership, like many businesses, wasn’t answering phones Monday. The storm had dumped more than 20 inches of snow in Central Park by Monday evening. However, forecasters could not immediately say whether 4 inches fell between 10 a.m. and 10 p.m.

Two hundred four customers took the gamble, signing up for $908,000 in leases. Potamkin President Ted Bessen, whose idea the promotion was, appeared to take it in stride. He had paid Star Insurance Co. $32,000 for liability insurance to cover the $908,000 in leases, the Wall Street Journal reported Monday.

“This is like legalized gambling with Mother Nature,” said Bessen, who also promised to throw a party for the winners if the dealership loses.

The customers would still have to pay sales taxes on the leases, which run from $200 to $800 a month, salesman Paul Koka said.