IS CERTIFIED PRE-OWNED A GIMMICK?


What does the sticker mean, and is the price worth it?

 

 

Should I go with a certified-pre owned car?

Certified pre-owned (or CPO) is a term coined by the automotive industry to make used cars easier to sell. Dealers layer in benefits like inspections, reconditioning, and certification by either the original manufacturer or the dealer. Some CPOs even come with an extended warranty. All this gives buyers peace of mind, even though it comes with a higher price tag.

But, only a certain number of cars fit into the CPO box, and those that do often are priced higher than they should be. Let’s break this down.

CPO cars come with more insurance than you probably need.

Factories and dealers only offer certified pre-owned status on late-model, low-mileage vehicles (typically less than 5 years old and fewer than 80,000 miles). In many cases, CPO vehicles still have the basic manufacturer’s warranty. This means you’re paying a premium for comprehensive protection on a vehicle that likely won’t require enough repairs to justify that degree of coverage.

Shopping only CPO cars greatly limits your options.

Most cars older than six years or that have more than 80,000 miles rarely qualify for CPO status. As such, customers shopping for older, higher mileage cars at lower price points may not have CPO vehicles as an option.

Luckily, you have other options.

If you’re looking for peace of mind at a lower price tag, here’s what we recommend:

  1. Zero in on the make and model you like, then find that vehicle for sale that is not certified pre-owned.
  2. Test drive it. If you love the car, take it to your mechanic for a thorough pre-purchase inspection (this should run you around $75-$125).
  3. Assuming your mechanic says everything is above board, purchase an extended vehicle service contract with the terms and coverage most important to you. Service contracts are often are priced well below what dealerships offer on their CPOs.

Here’s How We Break It Down.

At CarLotz, we’ve helped our customers lock down this type of deal countless times. We’re happy to let you take our cars to your mechanic to check them out, and we’ll happily help you find a service contract that makes sense for you from a number of our national providers. The chart below is typical of what most of our customers see in terms of savings:

Best of all, CarLotz lets you have it both ways.

Get the savings of a private sale with the amenities of a dealership.

Vehicle service contracts? We can help you with that.

Financing? We got you covered.

Trade-in? We’re happy to take it.

Have it both ways

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CarLotz
CarLotz
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833-227-5689
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