Buying a new car is too expensive, and you don’t want to lose the value on it. Buying a used car might be worrisome for you since you’ve only ever owned new cars your entire life. Where does this leave you? At first, you might think between a rock and a hard place. But, there is a third option: certified pre-owned vehicles. CPO vehicles are easily the best way to buy a car. Not only do they avoid that chunk of depreciation that happens within the first year of owning a new vehicle, but they are also cheaper than new cars. Combine this with the quality assurance you get thanks to a thorough multipoint inspection, and you’re looking at a vehicle that provides great value for your dollar.
While that multipoint inspection varies from automaker to automaker (just like the age and mileage requirement for a vehicle to be considered a CPO), they are all typically within seven years new, and under 75,000 miles.
Let’s take a look at GM, which has one of the most comprehensive certified pre-owned vehicle programs on the market.
In order to even be considered for GM’s certified pre-owned vehicle program, any Chevrolet, Buick, or GMC model needs to be within five model years old, and under 75,000 miles. If it meets those requirements, it then needs to pass a 172-point vehicle inspection and reconditioning process. This is that multipoint test I was talking about, and the certified technicians will look at everything from the heated mirrors (if available) to the powertrain. The point is, they look at everything and make sure it’s working properly. If something needs to be replaced or fixed, they do so. If it can’t be fixed, then the vehicle won’t become a CPO.
On top of that, it also needs to have a clean car title and come with a vehicle history report. If either of these items are missing, the vehicle won’t be eligible for certified pre-owned benefits.
Apart from being cheaper than a new vehicle — and avoiding a good chunk of depreciation depending on how old the model is — CPOs also provide incredible value. These certified pre-owned vehicles come with a range of benefits, like: a six-year/100,000-mile powertrain limited warranty, exclusive CPO scheduled maintenance program, 12-month/12,000-mile bumper-to-bumper limited warranty, 24/7 roadside assistance and courtesy transportation, vehicle exchange program, and a three-month trial of OnStar Guidance Plan/three-month SiriusXM Trial subscription.
This all adds up to about $2,800 in built-in-value that you get for simply buying the vehicle. Remember, the price of the vehicle is already cheaper than buying a new one.
It’s this combination of quality, value, and affordability (when compared to new vehicles) that make certified pre-owned vehicles the best way to buy a car. Perhaps the best benefit of all that certified pre-owned vehicles provide is guaranteed peace-of-mind.