Purchasing a car involves much more than just looking at shiny exteriors and powerful engines. Today, savvy consumers want assurance, value, and reliability, which is exactly what certified preowned (CPO) vehicles offer. But what is a CPO vehicle? They are late-model used cars that undergo thorough inspections and refurbishments, earning certification from manufacturers or authorized entities. Not only do they offer an extended warranty, but they also come with special financing and additional benefits. In 2019 alone, over 2.8 million CPO vehicles were sold in the U.S., underscoring their growing popularity.
Statistics show that CPO vehicles typically cost about 25% less than their new counterparts. This cost difference makes them an attractive option if you're seeking a blend of quality and savings. Read on to discover more about what makes a car CPO and the benefits of buying a CPO car.
How Do CPO Vehicles Differ From Standard Used Cars?
Car Dealer Handing Over the Carkeys by Gustavo Fring is licensed with Pexels License
CPO vehicles are examined through rigorous multipoint inspections, which typically check between 100 and 160 different points. These meticulous inspections cover critical areas such as the vehicle's engine, transmission, electrical systems, and more, ensuring everything is in top condition. Any issues identified during these inspections are repaired or reconditioned, giving you confidence in your purchase.
Certification standards vary, but CPO programs usually only certify vehicles under six years old with mileage restrictions ranging from 60,000 to 80,000 miles. This ensures that you obtain a relatively new vehicle that still has plenty of life left. While factory-backed certifications are generally seen as more reliable, dealer-backed certifications can sometimes offer more flexibility. It's essential to weigh the pros and cons of each before making a decision.
What Are the Benefits of Buying a CPO Vehicle?
Here are some of the benefits of buying a CPO vehicle:
- Comprehensive inspections: These detailed checks significantly reduce the risk of purchasing a problematic vehicle.
- Extended warranties: Many CPO vehicles come with bumper-to-bumper or powertrain warranties, typically adding 12 months/12,000 miles on top of any existing warranty.
- Lower financing rates: One key perk of CPO vehicles is they often qualify for new-car financing rates, leading to potential savings when compared to financing non-certified used cars.
- Detailed vehicle history reports: CPO purchases typically include free vehicle history reports from places such as CarFax or AutoCheck. These provide insights into the vehicle's accident history, service records, and more.
- Special deals and exclusive offers: CPO programs often include perks such as free maintenance, roadside assistance, and trial subscriptions to satellite radio, which further enhance the vehicle's value.
What Are the Drawbacks of Opting for a CPO Vehicle?
CPO vehicles typically command a 5% to 8% higher price than non-certified used cars, which reflects the cost of inspections, refurbishments, and added warranty coverage.
The age, mileage, and condition requirements can restrict CPO inventory, making the search for the ideal CPO car more challenging. However, regularly exploring inventories and being flexible with your options can help you secure your desired vehicle.
Tips To Help You Make an Informed Decision
When choosing a CPO vehicle, consider top-rated CPO programs such as Lexus, Porsche, and Honda. Evaluate each program's specific criteria, from warranty length to additional perks, against your personal needs. Here are some questions to ask before purchasing a CPO vehicle:
- What does the warranty cover, and for how long?
- What does the inspection entail, and is there a report available?
- Is there a return or exchange policy?
Asking these questions will help you to make a fully informed decision and safeguard against misunderstandings with the dealership.
Top Tips for Shopping and Negotiating Your Best Deal
When you're in the market for a CPO vehicle, it's essential to research and compare different options. Start by exploring tools and databases that provide detailed vehicle histories and current market pricing. Additionally, consider employing negotiation strategies specific to CPO purchases. Use inspection or warranty details as powerful bargaining tools to help you secure a better deal.
Is a CPO Vehicle Right for You?
CPO vehicles offer an exceptional blend of quality, value, and peace of mind, making them an excellent choice for many buyers. If you're considering your options, take the time to weigh the benefits of a CPO against any potential drawbacks to determine the best fit for your needs. To explore our selection of CPO vehicles, schedule a test-drive, or discuss finance options, contact our friendly team at AutoOne in Lancaster, Pennsylvania, today.