The Pros and Cons of Buying a CPO

The Pros and Cons of Buying a CPO

If you want to own your favorite vehicle but can’t afford to shell out a huge amount of money for buying it, a CPO is a great option. Vehicles sold under a CPO or Certified Pre-Owned program are thoroughly checked and verified for their superior performance. After purchase, they do not need huge expenses for the repairs and maintenance. In fact, these automobiles undergo multiple inspections for obtaining the certification from the maker. However, before you buy them, assess the pros and cons of certified used vehicles:

Assessing the Pros of a CPO Vehicle:

You can avail many benefits when you purchase a CPO vehicle. It offers a comprehensive coverage warranty along with add-ons like free services, roadside assistance, towing facilities, car rental reimbursements and an optional extended protection plan. Also, some dealers offer a buyback guarantee with their CPO vehicles. Other advantages of buying under this program are:

Extensive Inspections and Checks

The biggest concern for buying a used vehicle is the frequent repairs that it needs and uncertainty of its performance. Many manufacturers offer a certification program in which the cars go through various tests and mechanical inspections to make them eligible for sales. These vehicles included in this program should have specific age and mileage requirements. Mostly, this program is applicable to vehicles having 50,000-80,000 miles on their odometer, and they age about four to six years. Whenever an issue is found during these inspections, it is immediately resolved.

Huge Depreciation Savings

Depreciation causes a severe loss to the value of your vehicle. When you buy a brand-new car, its value is immediately depreciated by a certain percentage. Over the years, your car will inflict depreciation up to 30-40% throughout the term of ownership. You can avoid this additional loss to your car’s value by investing in pre-owned vehicles. The cost of depreciation is already factored into the pricing of the vehicles.

Easy to Find Finance

With CPO vehicles, it gets easier to find financing options from credit unions and local banks. You can skip the lengthy financing procedures and save a lot of money due to the lower costs of used vehicles and lower interest rates on its financing plan.

Assessing the Cons of CPO Vehicles:

There are a lot of benefits when buying a certified pre-owned vehicle. However, it also entails some demerits. When compared to non-CPO vehicles, certified cars come with a higher price tag. Their costs are inflated due to the extensive inspections and repairs that they undergo. These procedures ensure long-term performance and reliability of the car. Dealers try to compensate these prices by offering add-ons and financing benefits to buyers.

Despite these benefits, a used vehicle remains a secondhand car that can’t offer you the feeling of driving a brand-new car. However, the affordability and decent performance of these vehicles make them a viable option. They are excellent for users who prefer driving a high-performance vehicle even if it’s not straight out of the factory lot.

As a matter of fact, there are many benefits of investing in a CPO vehicle. You should assess your requirements for making a better decision.