Do you know the difference between buying a Certified Pre-Owned (CPO) vehicle vs. a non-CPO used car? If not, Bates Nissan is here to help! Before buying any car, new or used, you want to make sure you do your research. Make sure you know the differences between certified used and used before you buy!
So what is a Certified Pre-Owned car?
A CPO vehicle is a used car that has gone through manufacturer testing to make sure that it still meets the original requirements. Most CPO cars are backed by a limited warranty and have a manufacturer’s stamp of approval. Since CPO cars have this stamp of approval from the car’s manufacturer, it tends to give buyers more peace of mind when purchasing a used car.
CPO cars are also certified, which includes warranties and sometimes even additional features like roadside assistance, special financing options, and free oil changes. CPO cars are typically off-lease trade-ins that are low in mileage and years. In the end, you are basically getting everything you would receive in a new car purchase for a more affordable price and with a few extra perks that are not typically included when you purchase a non-CPO used car.
When I should I consider a non-CPO used car?
There are some things you should consider before buying a Certified Pre-Owned car. Typically, they are more expensive than a non-CPO used car because they come with more perks. Sometimes, new cars offered by the dealer can be the same price as what the manufacturer is asking for the CPO car. Compare models before you buy. Compare the prices of a new model vs. the price of the CPO model. Sometimes the new model will still cost more, but occasionally you will find that they can be around the same price. In that case, why not buy the brand new car?
Also, if the CPO vehicle is offered with the original warranty, make sure that it is worth the extra couple grand you will be paying for it. For example: The current year is 2015 and you are looking at a Certified Pre-Owned 2009 car that has 96,000 miles. You love this car. And it comes with the original 7 year/100,000 mile warranty! This sounds like a great deal, right? That is until you realize this car only has about one more year until the 7 year warranty expires, and you drive around a lot, so it could be even quicker since the car is already close to the 100,000 mile mark. In this situation, it might be wiser to look at a non-CPO model and save yourself a couple thousand dollars. If the car is only one year old though and only has 30,000 miles on it, this is a great option for someone looking to buy a new car, but doesn’t want to pay the new car price.
What are some tips for buying a non-CPO used car?
If you are looking at a non-CPO used car, make sure you get it checked by a trusted mechanic. This won’t save you time, but it will probably save you money and still give you the same peace of mind that you get when buying a Certified Pre-Owned car. Prices on used cars are also more negotiable, so you have a little more wiggle room to stay within your budget.
Tips for buying used, CPO or not:
Whatever you do, research the car you want and find the car that is most suitable for your lifestyle. Know what it is worth and know your budget.
Run the VIN number and get a CarFax report so you know the documented history of the vehicle.
While not everything is included in a CarFax report, this is why it is a good idea to take the vehicle to a trusted mechanic so they can look it over and make sure it is in good condition.
Since most used cars prices are a little flexible, be ready to negotiate. Again, know how much the car is worth and make sure it is reasonably within your budget.