Certified second-hand (CPO) vehicles must meet additional standards from the manufacturer or dealer. Buying a certified second-hand car also offers several benefits, including an extended warranty and overall cost savings.
If you’re in the used car market but are hoping to find a car that might be a better deal in the long run, the CPO makes a lot of sense. However, before you begin your search, you need to learn what a certified used car actually looks like, the benefits they come with, and the steps you can take to lock the best prices.
What is a certified used car?
Certified second-hand cars will return a leased vehicle or a new trade-in for additional inspections by a factory trained mechanic before they are sold. They are usually sold with less markup than newer vehicles, but tend to cost more than the average usage option. Despite the markup, these cars come with factory-backed warranty and the peace of mind provided by reputable dealers.
Recent data from Consumer Reports shows that CPO vehicles tend to pay off higher prices in the long run, as they consistently have fewer mechanical issues than other used options.
Is a certified second-hand car worth it?
Certified second-hand cars can also be more secure if you are cautious about purchasing a used car. The warranty provided by the manufacturer, among other benefits, makes CPO cars more expensive, but can provide a much needed sense of security when shopping.
Extended warranty
Certified used cars may come with an extended warranty. Warranties may include limited powertrain warranty covering engine, transmission and drivetrain components, as well as bumper-to-bumper warranty covering body and interior components.
See how long the vehicle’s warranty lasts and ask about warranty exclusions. Under CPO warranty, look for a list of components that are not covered, such as tires. If your vehicle has many maintenance-related electrical components, such as brakes and tire wear sensors, ask the dealer if the warranty covers the replacement.
Better Value
Another benefit of purchasing certified pre-ownership is that the overall cost of the vehicle generally decreases over time. This is because the dealer checked the vehicle and it comes with a warranty. Both of these can lead to reduced total cost of ownership.
With an uncertified used car, you don’t have to worry about future mechanical issues or repair costs. This allows you to focus more on the vehicle and focus on potential hidden issues.
Exchange Program
Depending on the manufacturer and dealer, if you do not meet your expectations, you can return the car within a certain amount of time. However, this is not available on all CPO vehicles, so if you want this feature, check with your dealer before signing on.
How to buy a certified used car
To find a certified used car, we recommend following the same steps as buying a used car. Before you start shopping, prepare to take a car loan by completing some basic research, shopping a lot, pouring into your car details and inspection report, and purchasing the car that best suits your needs.
1. Do your research
Start by considering what you really need in a car. Only competitive fuel economy, lots of space, or just things that are easily available from Point A to Point B. Once you know your needs, start looking for a model that meets those needs and fits your budget.
Check out the survey prices for various vehicle options as well as sites like Kelley Blue Book (KBB) and Edmunds to see current prices. Pay close attention to important functions such as backup cameras, seat temperature control, and towing capabilities.
Once you know the vehicle you need, check out the CPO programme offered by your chosen manufacturer or dealer. Consider the following factors:
- Vehicle age and mileage: The program sets the maximum age and mileage of the vehicle you are trying to qualify.
- Vehicle warranty: Do vehicles with the CPO program come with a free extended factory support warranty?
- Inspection process: What is included in the CPO test?
- Vehicle history: Are potential buyers available now?
- Available Discounts: Does the manufacturer offer special incentives such as 0% APR?
2. I’ll do my shopping
There are many places to find certified used cars, including franchise dealers, rental companies, online dealers, and CPO-specific dealers. After narrowing down your selections, it’s time to shop. If you’re really thinking about the type of vehicle you want, heading directly to the franchise dealer is your best bet. Otherwise, shopping online gives you time to compare options with tools offered by Edmunds and KBB.
3. Please check the inspection report
One of the main perks of buying a CPO vehicle is knowing they have been thoroughly inspected. You can build confidence by requesting and reading the inspection report before purchasing. The report should detail previous accidents, damages, or mechanical issues. A trusted dealer will perform inspections that cover:
- Road test.
- Internal/external damage and overall wear and tear.
- Vehicle tires, rims, wheels.
- Under the hood component.
- Brake fluid and coolant.
4. Complete your purchase
Once you find a vehicle that feels satisfied with meeting your needs, you are ready to start Price negotiation process. With the introduction of “buy online” car sales, it means that many cars are being sold from lots at a set price without a rocking room, but it’s not painful to ask if they can pay less than what they’re looking for. This is true if you are Purchases from a dealer or private party.
Once you have reached an agreement in terms of purchase price, it’s time to sign the paperwork and make the vehicle yours. Equip the information you learn from the inspection and use it as leverage to get the best deals on a used car. and See dealer options Sellers may try to add that it is not always worth it.
Conclusion
Buying a certified used car requires research and planning, but with some patience you can get a solid car. Once you find the right fit, qualify for fundraising before you buy. With car loans lined up, there’s more room to negotiate a deal you’re proud of.
