The road to owning a new-to-you car can be fraught with potholes. New cars experience depreciation — at least 10 percent in the first month — and used cars can be something of a mystery when it comes to knowing the vehicle’s condition, but there’s another option that gives shoppers almost the same assurances of a new car but without the new-car price: certified pre-owned vehicles. Related: What Does CPO Mean? CPO vehicles are typically late-model-year vehicles with manufacturer-backed warranties. Most CPO vehicles are in good condition and have relatively low miles, and many of them are off-lease cars, which means they’ve reached the end of their lease contract. For a charge of about $1,500 on average, a certified technician performs a multipoint inspection of the CPO car and makes any necessary repairs. With CPO vehicles, dealers and automakers typically offer extended powertrain warranties and other benefits, such as roadside assistance and a vehicle … [Read more...] about Shopping for a CPO Car? Here’s What You Need to Know
What is a cpo car
Before you get talked into buying an extended warranty when you don’t even know what it is or if it will benefit you – just stop, and take a deep breath. Used car warranties can be tricky to figure out, but here’s what you really need to know. What is A Used Car Warranty? A used car warranty can be an extended warranty, which is a warranty that the car owner takes out after the original or manufacturer warranty has expired or in some cases like with a CPO, certified a pre-owned vehicle, it can still be the original warranty. (When in doubt, phone your car dealer and find out.) A car warranty, in case you didn’t know, is more or less a type of insurance that covers you as a car owner in the case where your car needs certain types of repairs done. A car warranty is usually valid for x years or x miles, there’s most likely a ‘whichever comes first’ clause in there somewhere. This is how it works; once you choose a car warranty you then pay a … [Read more...] about 6+ Things to Consider When Buying a Used Car Warranty 2019
Buying any car, new or used, is a risk. Machines are not perfect, things break/malfunction and sometimes need repair. That is why I try to steer people into “Certified Pre-Owned” vehicles whenever possible. But what is a CPO car and when is it a good deal? If you purchase a new car you have the protection of the manufacturer’s warranty for a few years, if and when hiccups occur. While pre-owned vehicles can certainly save you money over new, they don’t always offer the same level of warranty coverage. But how is a certified pre-owned car different from just a “used” car? Let’s break it down. Certified by whom? The word “certified” gets tossed around a lot on dealership lots. The idea behind it is to offer a little more peace of mind for those buying a pre-owned vehicle. But not all “certifications” are equal. There are basically two types of certification: Manufacturer certified and dealer certified. Most of the CPO … [Read more...] about What Is A “Certified” Pre-Owned Car?
The internet has changed the way cars are bought and sold. It’s now a lot easier to figure out who has the best deal on a new car, but used cars are more complex. A lot of buyers get frustrated when they run into walls asking for large discounts on used cars. Here’s why that happens. I’ve mentioned in several previous articles that used car shopping is more about finding the best overall value on the market rather than focusing on the largest discount off the asking price. I find myself fielding a lot of emails where I end up explaining that a dealership that’s holding firm to their asking price or is only offering a small discount is not, in fact, ripping them off. New cars simply have more wiggle room: more deals, more incentives, more factory rebates, better financing terms and more options on the lot, just to name a few. This isn’t the case with used cars. Online pricing comes down to two basic factors: the market price for a given vehicle and how … [Read more...] about Here Is Why You Shouldn’t Expect A Big Discount On A Used Car
Go to a local car dealership, enter the showroom, open the door to one of the vehicles on display, and breathe deeply. Ahhhh, new car smell. Intoxicating, isn’t it? Alluring to the point that you’ll spend, on average, about $13,500 in order to obtain it. Wait. What? That’s right. According to Kelley Blue Book, in 2015, Americans spent, on average, more than $33,500 on new vehicles. Meanwhile, J.D. Power reported that in the 2015, the average used vehicle cost just over $20,000. That new-car smell sure is an expensive air freshener. FOLLOW DAILY NEWS AUTOS ON FACEBOOK. 'LIKE' US HERE. Of course, there are other reasons to buy a new car. At the same time, it makes plenty of sense to buy a used car, and not something vintage like that cool Volkswagen Thing pictured above. We’re talking about lightly used vehicles, the type J.D. Power describes when it claims that in 2015 the average used vehicle was 4.3 years old and had 51,554 miles on the odometer. First up … [Read more...] about 6 Smart Reasons Why You Should Buy a Used Car