Many people think that the only option is a new car with a warranty, or a used car without a warranty, however, there is a much better option.
Consumers are back to buying cars, but the prices are higher than ever. The average cost of a new vehicle exceeds $40,000. If you can’t afford this, the next option is getting a used vehicle. However, most people are not enthusiastic about owning a used car because of uncertainties.
If you need a car, you can get the best of both worlds by purchasing certified pre-owned (CPO) vehicles. This article explains what certified pre-owned vehicles are and why they are the best-kept automobile buying secret.
A certified pre-owned car is a low-mileage, accident-free used car typically less than five years old. These vehicles have been reconditioned to meet strict manufacturer or dealer standards and have less than 80,000 miles on the odometer. So, they have very low mileage and modern technology.
Below are key features of certified pre-owned cars.
There are several reasons why buying a certified pre-owned car is a great option. However, the following are why CPO vehicles are the best-kept secret.
If you’re working with a budget, go for CPO cars as they are less expensive. According to iSeeCars, cars depreciate by 39% over three years. As a result, most CPO cars are sold for under $15,000.
Also, buying a certified car saves you money over a non-certified vehicle because it has low maintenance costs flowing from the warranty coverage. Another point in favor of certified pre-owned cars is that they have special financing rates, unlike non-certified used cars.
Since most certified pre-owned cars are below five years, you can get a modern vehicle. You can buy a current model generation, have the same basic styling as new models, and the latest technology. However, if owning a modern car is not your dream, you can find older certified pre-owned cars and save more money.
CPO cars undergo a rigorous inspection process of up to 300 items by trained technicians. Before buying the car, you can request a copy of the inspection to see what was covered. The warranty coverage typically includes a limited powertrain warranty for the engine, transmission, and significant mechanical components and a limited bumper-to-bumper warranty for issues that may arise that are not part of the powertrain. All these give you peace of mind while buying the vehicle.
While CPO cars have several benefits, conduct extensive research before buying one. Also, get an independent mechanic to ascertain the vehicle’s soundness and verify the information provided by the auto dealer.
If you need more help understanding certified pre-owned cars and their benefits, Adultology can guide you. We equip adults with skills that help them make significant life decisions and navigate adulthood. Contact us today.
Categories: Buying and Maintaining a Car