Certified pre-owned (CPO) vehicles can be a good choice for car buyers with bad credit. This is because they represent a reliable option for people who want the modern features and peace of mind of a new vehicle without the new car price tag.
The Perks of Certified Pre-Owned Cars
CPO vehicles are a step up from a typical used car. Normally, used vehicles are sold as-is, so it's a good idea to have them checked out by a certified mechanic before purchase. On the other hand, certified pre-owned cars come backed by some form of manufacturer warranty. To be manufacturer-certified, these vehicles have to be inspected and refurbished by a service technician.
Because of this process, CPO cars are usually more costly their standard used vehicle counterparts, but they can still save you thousands compared to buying a new car. Plus, certified pre-owned vehicles are typically only a few years old, with many having just come off-lease. This means CPO cars often feature more of the safety and technology that today's drivers are looking for.
Another perk of buying a CPO vehicle is that they've already seen their largest dip in depreciation, which means you're likely to spend less time underwater – owing more on a loan than a car is worth.
Certified Pre-Owned Programs
When you're interested in getting a CPO vehicle, make sure you're getting the real deal. Certified pre-owned models are only available through franchised new car dealerships if they're participating in a manufacturer-backed program.
The warranties available on these vehicles vary by manufacturer – some offer programs that are similar to what you see on their new cars, while others offer what remains from the original powertrain warranty, or a limited warranty.
With these warranties, be sure you know what's covered and what isn't. If you're purchasing from a manufacturer-backed certified pre-owned program, you should be able to bring your vehicle in for service at any franchised brand dealership. This is an important distinction, and shouldn't be confused with a dealer certified used car program, which is something completely different.
Finding the Right CPO Car Dealer in Your Area
Because not every dealership can work with bad credit buyers, you could waste a lot of time and energy driving to all the franchised new car dealers in your town, only to be turned down over and over. Why waste the fuel and your credit points searching for the dealership that works with the right lender for your situation?
Instead, let Auto Credit Express take the lead. We can guide you toward a local dealer that works with lenders that specialize in helping people who have bad credit, no credit, or bankruptcy.
Just fill out our free, no-obligation auto loan request form, and we'll get to work matching you with a dealership in your area.