Pre-Owned vs Certified Pre-Owned
When buying a car, you have the option to choose between a new car or a used car. If you choose to buy a used car you have even more options: pre-owned or Certified Pre-Owned (CPO). But what exactly is the difference and how do you know which to choose? There is no right answer and each option has its pros and cons, but the friendly and knowledgeable staff at Executive Honda can help you make the best decision for you.
If you decide to purchase a pre-owned vehicle, the biggest advantage is the savings. However, this price advantage is because it has not been previously inspected and does not come with a warranty. Fortunately, the price of a pre-owned vehicle can be negotiated and a warranty can still be purchased separately. Another major benefit of a pre-owned vehicle is the fact that the major depreciation has already occurred. A new car can decrease in value by almost 20% in the first year of ownership. When purchasing a pre-owned car, the first owner experiences this depreciation and your vehicle better maintains its value. Also, vehicle history can easily be checked.
If you decide to purchase a Certified Pre-Owned vehicle, there are some benefits. A CPO vehicle is only lightly used, has gone through a thorough inspection, and had any necessary repairs completed. Only vehicles that pass the multi-point inspection can be sold as a CPO car and the vehicle is then covered by a manufacturer-backed extended warranty, and they’re only available from the brand’s own dealerships. CPO vehicles also typically have fewer miles, fewer issues, and require fewer repairs compared to a pre-owned car. A CPO program may also be included which, depending on the program, can offer even more benefits like roadside assistance, free maintenance, a satellite radio subscription, or trip interruption coverage. While a CPO car has many benefits, it is still a used car, so it is recommended to still bring it to a mechanic to have it checked out which would be an additional cost for you but can save you thousands down the road. You may even be able to get your car inspected before you buy it to make sure you are getting a reliable car. If a dealership doesn’t let you get a pre-purchase inspection, consider this a red flag and move on to another vehicle. And because of the inspection and the warranty, a CPO car is usually more expensive than a similar pre-owned car.
Buy Pre-Owned or Certified-Pre-Owned the Executive Way
It can be difficult for you to choose which option is best for you. There are a lot of factors to consider, like make, model, trim level, fuel efficiency and how the vehicle fits in your budget. Only you can make the right decision for your unique situation, but the expert staff at Executive Honda can help by reviewing vehicle options, warranties, payment plans, and available CPO programs with you. Check out our website to see the pre-owned and certified pre-owned Hondas we have available!