What Are Certified Pre-Owned (CPO) Vehicles
To the consumer, a certified pre-owned vehicle (CPO) is an alternative to buying a new car at a higher price. Even if there are a few kilometers on the odometer, someone purchasing a CPO can afford a car that feels almost new, for less.
Also, purchasing a CPO vehicle removes the uncertainty about the mechanical condition of the vehicle. That’s because a factory trained mechanic ensures the CPO meets all of the requirements that manufacturer’s programs have in place. The technician that is performing the certification would then repair/replace anything that’s worn beyond the limits of that manufacturer’s program.
How Are Vehicles Qualified To Be CPO’d?
The dealership checks the condition of the vehicle and consider if it is fit for their CPO program. Depending on the manufacturer, the age and kilometers are major factors. (Example: It must be five model years old or newer, with less than 100,000 Kilometers, and it has to have been operated by the previous owner for at least 12 months).
As long as the vehicle fits those guidelines, then a factory trained technician would go ahead with the inspection. If any issues are found, they are repaired. The ultimate goal here is to bring the vehicles condition as close to new as possible. In most cases, the vehicle is then sold with a warranty, which includes powertrain.
Certified Doesn’t Always Mean CPO
Just because the vehicle ad says “Certified” doesn’t mean it’s a CPO. The term certified can mean a number of different things to different dealerships. Obviously, it’s more valuable when a manufacturer stands behind a guarantee.
Generally, CPO vehicles are for people who want to want a near new vehicle with a solid warranty, while saving money over the price of a new vehicle. However, because they are certified, they are normally more expensive than vehicles that have not been CPO’d.
Ultimately, it’s going to come down to what fits your budget, lifestyle and criteria. So, if you’re in the market for a vehicle, it’s wise to get your approval in place first. That’s where Creditline ONE comes in.