(StatePoint) Everyone knows used cars are cheaper. But how do you make sure you are not getting a lemon? Don’t rule out a Certified Pre-Owned (CPO) vehicle, say experts.
“A CPO is not just hype from the automotive industry,” says Rob Christman, director of Sales, Fixed Operations at Cox Automotive. “The certification process offers a guarantee that you are leaving the lot with a vehicle in good condition, and an accompanying warranty offers your wallet some protection, too.”
Christman offers five reasons to consider a CPO.
CPOs have been inspected, repaired and certified as safe to drive. With a CPO, you will have access to a detailed and itemized checklist of all the items inspected by a professional mechanic, as well as assurance that the vehicle passed inspection or was brought up to standards. Furthermore, backing this with a warranty adds additional peace of mind that the purchase is safe and reliable.
Knowing that the dealership took the time to inspect the vehicle and complete and document repairs leads to a higher transaction satisfaction and greater trust between dealer and buyer.
For many people, a vehicle is the second biggest purchase made in a lifetime. A CPO warranty can help you set a realistic automotive budget by eliminating unexpected expenses on costly repairs.
More car for the money
Automobile depreciation is the single largest expense in owning a new car. Indeed, a new vehicle will lose up to 19 percent of its value in the first year.
You can purchase more car with your money by buying a vehicle which has already seen that depreciation. For example, the amount of money you might spend on a new base model might buy you a similar, certified pre-owned car loaded with options.
A warranty offered with a CPO gives you coverage for major issues and will usually cover roadside service, towing and emergency situations which could arise during your ownership. Check with the dealership for details and limitations.
To compare the top CPO programs, and learn more about the process of buying and owning a Certified Pre-Owned vehicle, visit “Top CPO Programs” at bit.ly/20GgKdd.
While nearly every manufacturer and dealership offers a CPO program, remember that terms and benefits can vary greatly, so whatever you opt for, do your research for the best deal possible.