Pros and Cons of Certified Pre Owned Cars
Credit sometimes can be hard to get and tough economic times has made car shoppers more likely to shop for used cars rather than new vehicles. Many who would’ve opted to buy new are not able to obtain a loan but now shoppers have a cheaper alternative in the Certified Pre-Owned car. Car buyers who buy used are more commonly opting for Certified Pre Owned cars as CPO vehicles present less of a risk. Used cars are hardly perfect however certified cars are inspected point by point in a comprehensive manner and are covered under the protection of a warranty. If you don’t mind buying used, you still can get a decent ride with only a few minor problems for a budget friendly price. Below are Pros and Cons of buying a certified pre owned vehicle that can help in making your final car purchase decision.
You can be worry free with CPO Vehicles
The peace of mind that comes with purchasing a Certified Pre Owned car gives buyers a sense of security. Buying a Certified Pre Owned vehicle is not unlike buying new, breakdowns and expensive repairs are less likely to occur. Typically certified pre owned vehicles are later models which have gone through an inspection process before being certified. Most car manufacturers have their own certification programs that the factory backs, some certifications are made other organizations and dealers without the factory’s backing. CPO’s often times include a CARFAX vehicle history report which gives information on prior ownership and any accident history the vehicle has.
Pre selection and inspection
Certifications by factories are not given on just any old car, CPO cars are limited by mileage and age. Generally automakers will only certify cars that are roughly five years old or younger and have no more than a mileage of 80,000. The more expensive cars might like Porsches may sometimes be eligible for CPO for as many as eight years. In the certification process, a checklist of 100-150 points of inspection are followed by dealers, when you purchase a certified vehicle the most important is that the inspection is thorough and comprehensive. If a car has more than minor problems during inspections repairs must be made, if the car is in near mint condition it usually will pass inspection and little if any repairs need to be made. Dealers generally will only certify the best cars in the lot for certification.
Certified Pre owned vehicles are protected by a warranty just like a new car is. CPO approved cars are backed by the manufacturer in the warranty and covers repairs during the term of the warranty beyond the original factory warranty.
Higher Price Tag
Higher prices come with the territory when buying certified vehicles. Quite often dealerships pay small fees to the auto maker in order to participate in the CPO program, warranties of certified vehicles carry an extra price. The result is a car that is more expensive than it would have been without certification. What is the difference you may ask? Low budget models usually are only a few hundred dollars more expensive while higher end luxury cars can cost as much $1000 more than usual. Dealers sometimes offset the extra cost with better financing options and terms.
Used is used
Used cars, certified or not, are still used and are more likely to have problems than a new car. No matter how extensively the car has been inspected, CPO cars still may in a few years’ time endure problems. Certifications only make the purchase less risky.