Certified Pre-Owned Takes On New Car Market
When ready to purchase a vehicle, or re-up your next lease, consider new versus pre-owned. According to Edmunds.com, a new car loses its value the minute you drive it off the lot starting with a minimum of 10% loss, and it continues to do so, year after year. Other reports have shown as much as 25% in the first year. When we purchase a pre-owned vehicle, especially certified pre-owned, one could argue getting an almost new vehicle for a great deal less.
There are additional factors that support pre-owned, like how old the vehicle is, the condition, the mileage the vehicle has and what you consider you estimate as your annual mileage. Today, Certified Pre-Owned (CPO) which was originally created by the manufacturers to support their pre-owned vehicles. This has now become a staple for many automobile dealers and consumers. Many pre-owned vehicles are sold before the original manufacturer’s warranty has expired and luckily the warranty moves with the vehicle. If the dealer offers a Certified Pre-Owned plan for its vehicles, you have better odds at your pre-owned vehicle. Certified Pre-Owned (CPO) is standard when offered by the manufacturer, but some independent dealers create their own certified programs, so having a good look at what they have inspected is important in your decision.
An important consideration is to calculate the pre-owned vehicle with a vehicle warranty. Vehicle protection plans are a vital consideration and can save thousands of dollars when a major problem occurs. It is like not having health insurance for you or your family. It’s a dangerous place to be. Just one repair could make the used car warranty all but paid for. So, the cost of your pre-owned vehicle should include the cost you will minimally expect over the next three years. Vehicle protection plans, otherwise known as used car warranties are not insurance, but can give the driver the assurance they need when purchasing a pre-owned. Today, drivers can get their warranties online or from the dealer where they purchase their vehicle.
In summary, the main points to consider in purchasing a pre-owned vehicle
The facts about the vehicle – year, model, mileage, service record, etc.
The expected mileage you will be putting on the vehicle
The certified pre-owned details
The used car warranty plan that best suits your needs
The real cost per month of your pre-owned vehicle with your warranty
Happy shopping. You can start your pre-owned vehicle shopping at ShopSmartAutos.com where all the pre-owned automotive websites share their inventory in one location.