Maybe you've been debating over whether you should spring for a new car or save a few bucks by going with a used vehicle. You like the peace of mind that comes with owning a brand new and presumably problem-free new car, but a used model would fit your budget better. Can you satisfy all of your needs with a certified pre-owned (CPO) vehicle?
Why CPO Vehicles are Popular
Who doesn't like to feel like they're getting the best of both worlds? Typically, an authentic certified pre-owned car has a lot to offer a buyer, so it's easy to understand why so many buyers seek them out.
- Standards: While every manufacturer has its own standards, CPO vehicles generally must be under 5 years old and have less than 75,000 miles on the odometer.
- Inspections: Most certified pre-owned cars have undergone a complete check of all major systems. Most manufacturers boast that their CPO cars have been through multiple-point inspections.
- Depreciation: A new car can lose up to 20% of its original value in the first year of ownership, and because your CPO vehicle will have already taken that major depreciation hit, you won't have to worry as much about accruing negative equity.
- Warranty: All certified pre-owned cars come with some kind of warranty. How extensive these warranties are varies from manufacturer to manufacturer, but any kind of warranty is certainly better than none at all.
A CPO Car is Still a Used Car
Even though your certified pre-owned vehicle will be clean, checked out and looking great, you still have to keep your expectations realistic. After all, no used car is perfect, and keep in mind that not all "certified" vehicles are equal.
- Get your own inspection. Yes, the CPO car that you have your eye on has been through a 20-point inspection, but it won't hurt to also have an independent mechanic check it out. While you're not paying the new car price, you're still investing a significant amount of your money in the purchase. Why not be as sure as possible?
- Look for a factory-certified vehicle. This is a very important detail to watch out for. Basically, there are 2 different kinds of "certifications" that can come with a used car, a factory certification and a dealer certification. Ideally, you want to buy a factory-certified pre-owned vehicle because these cars have the backing of the manufacturer. Also, factory-issued warranties are almost always better than those arranged by dealers.
How will you know if your CPO car is factory-certified? First of all, make sure that the dealer selling the car is authorized to sell that particular brand of vehicle. Second, check for the manufacturer's logo on the car's window sticker. And, lastly, ask your salesperson for absolute clarification about the car's certification status.
Getting the Best Financing
Whether you decide to buy a new, used or certified pre-owned car, truck or SUV, acquiring the right financing is crucial. And if you want to make finding auto loan approval as easy as possible, trust Auto Credit Express to help you get the best financing possible for your situation. Even if you have severely damaged credit, we can work with you.
Just fill out our fast and secure online application to get started today.