Categorized | Auto

Win with Certified Pre-Owned Vehicles

The “Sleazy Used Car Salesman” with slicked-back hair, a tacky suit, and plastic smile has been a stereotype for years and has been overused as a comedy trope. While that image may have been based on the truth at one time, it’s not quite as common today. Similarly, the assumption that purchasing a used vehicle would be a headache — with irrational finance terms for an unreliable, worn-out automobile — is a thing of history. During the past decade, Certified Pre-Owned cars have become increasingly popular as customers demand more vehicle for their dollars.

The very first certified pre-owned programs were founded in the 90s by luxury car brands as a method to earn more on lease returns and trade-ins. Cars were tested for safety and dependability issues and the ones that met the manufacturer’s standards were certified and made as an option for special finance and warranty offers. Since that time, virtually all automakers have adopted certified pre-owned programs with their dealers.

There are several advantages in getting certified pre-owned automobiles. Virtually all of them are low-mileage, only a few years old, and still have time and mileage on their factory warranty. Because of this, buyers have the confidence that their vehicle is going to be trustworthy. Also, since many of those vehicles are lease returns, the selling dealer usually has a history with it. Most manufacturers also offer special finance rates on certified pre-owned vehicles, saving customers money on their car loans.

However, there are a few caveats to think about when searching for a certified pre-owned vehicle. Since these are programs set up by different automakers through their dealers, the standards for “Certified” can vary largely from dealer to dealer. Also, some third party organizations may supply a “Certified” program that’s just a pricey extended warranty. A clever method that will trick unsuspecting car-buyers.

For most customers and dealers, the certified pre-owned car is a win-win. The dealer gets about $1300 more per vehicle vs the same model without a certification. The buyer gets a dependable automobile for thousands less than would otherwise be spent on getting a new model.

Harold Collin Smith is a guru in finance, leasing, and popular car brands. He’s done countless amounts of consulting work for the Asian car companies and writes general information articles as a hobby.

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