How To Compare CPO Vehicles
Certified Pre-Owned vehicles, in short, are used cars which have undergone rigorous inspections either by a franchised dealership or the automaker company. Most of the vehicles are gently used, meaning they have been driven under 70,000 miles and are under the age of six years. The number of years and miles might vary from brand to brand.
These CPO cars are a bit more expensive than normal used cars, but the difference in their price tag can be compensated by the abundant incentives that come with the purchase. The only problem you could be facing is how to make the choice from a plethora of options available in the market.
The first and foremost thing we already touched upon is the higher price tag than that of used cars. This can be overcome with low interest rates with loans offered on CPOs. There are also captive finance offerings exclusive to each manufacturer. These rates are reduced furthermore if the buyer is a premier customer; you can get as low as zero percent interest loans.
Next up is the warranty. You might want to go into detailed discussion with the dealer on the terms of your warranty. Read whatever you are about to sign and understand the conditions which may hamper you from benefiting from the agreement.
Make your decision based on your needs and what the program offers, plus find out if there is a scope for tailor-made coverage. Learn the difference between third-party warranties, extended warranties, unlimited mileage, corrosion resistance, collision protection, bumper-to-bumper and powertrain warranties. Inquire whether the warranty is transferable to the next owner of the car in case you decide to sell.
Buyback guarantee from the same dealer can be a breeze when you want to upgrade to a newer model at the end of your lease. Out of town repairs can be covered and unexpected travel expenses are reimbursed in some programs.
Other incentives gain extra points in making the final selection are:
- Waiver of deductible to be collected or complimentary maintenance for a period.
- Automatic crash response, satellite radio free subscriptions, security, lifetime upgrades, etc.
- Free fuel delivery to the place where you are left stranded.
Details of Inspection
Most automakers set a point system for the inspection of specific items of the vehicle to be certified. Some brands have more than 300 inspection points. They even recondition or replace the individual items as required by their standards. Things like electrical systems are always clubbed together and inspected, so inquire if each part is checked separately. Ask for a detailed vehicle history so you can get a sense of the previous usage of the car.
Research if it is reasonable to purchase the CPO or go for a lease. Take all the above measures and more to get the most out of your purchase and enjoy the ride in your new vehicle without putting a huge dent in your wallet thanks to the ease and comfort of buying a pre-owned car.