Certified Pre-Owned Cars Overview
Certified Pre-Owned (CPO) cars are essentially top-quality, inspected used cars backed by manufacturers' warranties.
You may have noticed that many vehicles formerly known as "used" are now termed "Certified Pre-Owned" or "CPO." These programs originated in the Luxury category due to the high rate of off-lease vehicles populating the market in the recent past. Because these vehicles were in great shape and had lower mileage, manufacturers took a serious interest in ensuring that they delivered a positive purchase and ownership experience. As a result, they began to "refurbish" these vehicles and add warranties and special financing.
What are some of the features of a CPO vehicle program?
A variety of organizations have jumped on the Certified Pre-Owned bandwagon, including dealers and several third-party suppliers.
Most certified used vehicle programs:
- Include only vehicles that are under 5 years
- Have mileage limits of less than 100,000
- Use only vehicles that have had no major bodywork from prior accidents
- "Refurbish" the vehicle after a multi-step inspection
- Provide an extended warranty
Additionally, some programs offer:
- Consumer cash incentives
- Low interest loans
- Lease programs
- An exchange policy
CPO Program Details
Not all CPO programs are created equal. How does the one you're considering stack up?