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There is a hidden gem in the automotive market that is often overlooked: Certified Pre-Owned cars.
When it comes to owning a car, the appeal of a brand-new vehicle is hard to resist. The new car smell, the spotless appearance, and the latest technology can be alluring. However, if you’re looking to find an affordable used car, you may want to consider Certified Pre-Owned.
These vehicles have unique stories and histories, offering a range of benefits that make them an attractive option for many buyers who are in the market for a buying a used car.
Below, we explore what makes a Certified Pre-Owned vehicle, the benefits and where you can buy one.
A pre-owned vehicle is one that has previously been owned by someone else. Not all used cars are Certified Pre-Owned Vehicles (CPO), but all Certified Pre-Owned Vehicles are used cars. Consumers who want the confidence, reliability, and security of a new vehicle warranty with the savings of a used vehicle typically purchase these cars.
To sell a car as Certified Pre-Owned, the vehicle must undergo a thorough inspection and meet certain age and mileage requirements set out by the manufacturer.
Keep in mind that not all programs are identical - they may vary in terms of features, benefits, and support offered depending on the provider. As a result, it's highly recommended that you conduct thorough research before selecting a program to ensure that it meets your requirements.
Certified Pre-Owned (CPO) vehicles are used cars that have been inspected, refurbished, and certified by a manufacturer or other certifying authority. They provide buyers with extra security and value-added benefits. Used vehicles that are not certified do not have to meet these high standards.
Some of the benefits can include:
Vehicle history reports play a crucial role in Certified Pre-Owned programs throughout Canada. For example, when you receive a CARFAX report, you get immediate access to the car's history, including details on any past accidents, registrations, branding, lien information, odometer readings, police records, and more.
If a dealer offers you a CPO vehicle, it means they have invested additional time and resources to ensure that the vehicle complies with the program requirements. This additional effort translates to a higher CPO vehicle cost than a non-certified vehicle.
However, it also means that you get more out of the program. The program provides a consumer with greater peace of mind, knowing that the vehicle has undergone a widespread inspection and safety process and is covered through an extended warranty.
With a CPO car, many benefits make it worth the slightly higher price, such as:
You should weigh this information against your budget and how you intend to use the vehicle to determine if a CPO program is suitable for you. If you opt for a Certified Pre-Owned car, you may have to pay a little more for it, but you are less likely to face issues and additional maintenance costs.
When a dealer acquires a used car, it is thoroughly inspected by a factory-certified mechanic. If the vehicle meets the standards, it undergoes reconditioning and is then sold as a Certified Pre-Owned vehicle.
They come in two types:
Every manufacturer and dealership/retailer sets its own quality criteria to determine which vehicles enter their program. Here are some examples:
Be sure to check the manufacturer's websites before committing so you know that all the benefits are included with your vehicle.
In Canada, you can purchase Certified Pre-Owned vehicles from a variety of sources, such as:
If you plan to buy a Certified Pre-Owned car, it's important to ask about the certification process, warranty coverage, additional benefits, and the vehicle's history report. Additionally, it's recommended to carefully inspect the car and take it for a test drive before making a final decision.
Find out how much you can save when you compare car insurance quotes. Our brokers will make sure you have the best coverage and maximize savings.
You can usually finance a Certified Pre-Owned car. Some dealerships/sellers will offer lower interest rates compared to if you were buying a new car. You can either go through the dealership, or externally.
You can lease a Certified Pre-Owned vehicle, but not all dealerships and manufacturers will offer it as part of their program.
Every manufacturer and dealership/retailer sets its own age, mileage, and quality criteria to determine which vehicles enter their CPO program. When buying the vehicle, you will receive paperwork that certifies the vehicle to meet the standards.
The majority of Certified Pre-Owned vehicles come with a warranty – whether it’s an additional extender version or the previous owner. Each vehicle and manufacturer will offer a different warranty, so always be sure to double-check the fine print.
The allure of a brand new car is certainly tempting, but purchasing a Certified Pre-Owned vehicle can be equally appealing. In fact, there are many benefits to buying one, such as lower depreciation, affordability, and certified quality.
The pre-owned car market is worth considering Whether you're on a budget or simply want more value for your money. You might just find the perfect vehicle at a great price.
Next step? Contact us to find affordable Ontario car insurance to protect your vehicle.
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| Categories | Auto |
|---|---|
| Tags | Buy and Sell Vehicles |
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