The Pros and Cons of Buying a Certified Pre-Owned Car

The Pros and Cons of Buying a Certified Pre-Owned Car

Posted on June 1, 2023

It’s no secret that the value of a car reduces considerably as soon as it rolls out of a showroom, which is one of the major disadvantages of purchasing a brand-new vehicle. However, if you’re keen on getting your hands on a great ride, there are various reasons why you should consider a certified pre-owned car, especially if you’re looking for a luxury model.

While there are multiple used car dealerships, a certified dealership is gaining popularity because you know your car is reliable, tested, and problem-free. This is also why the demand for certified pre-owned vehicles is increasing. Here are the pros and cons of buying a certified pre-owned car.

What is a Certified Pre-Owned Car?

A certified pre-owned (CPO) car is a used vehicle that has undergone multiple tests and checks to ensure the vehicle is in good condition before selling. Most of these cars must be within a specific mileage range and age limit and in good condition, without any problematic past.

For a Ford vehicle, a car must be under six years and travelled less than 120,000 km. There’s a 172-point checklist that needs to be completed before a car receives a CPO certification. Honda vehicles must be within six model years of manufacturing and pass a 100-point inspection.

While the number of years for Hyundai isn’t precise, there are specific requirements the car should meet and must pass a 120-point inspection to qualify.

All these factors can differ based on the type of vehicle you’re looking for, the car brand, and the vehicle's overall maintenance. For example, a CPO will not be an accident vehicle or a vehicle with a disastrous past. This means your car is not registered for any significant traffic rules.

The Pros of Buying a Certified Pre-Owned Car

The obvious benefit of a CPO is that it costs less than a used vehicle, especially in the luxury segment. These vehicles are often newer models, so you’re sure to find something with most of the latest features. In addition, it’s a low-risk purchase since a warranty covers it.

With CPOs, you have better insurance plans to opt-in for that aren’t as expensive as the ones you get for newer cars. Another benefit of purchasing a CPO is that the dealership often has more wiggle room than new car dealers. If you have good negotiating skills, you might be able to get a better deal and drive out of the dealership with your dream car.

The Cons of Buying a Certified Pre-Owned Car

On the downside, finding the right vehicle could get tricky because of the varying price ranges available. You must also consider that CPOs will be slightly higher priced than average pre-owned vehicles.

If you’re looking for the latest features launched this year, finding a CPO in the luxury segment might be challenging, but there’s no reason you shouldn't widen your horizon and explore your options. Another downside of purchasing a CPO is having cash ready since most dealerships won’t accept a trade-in if your car is older and doesn’t pass its test.

Buying a Certified Pre-Owned Luxury Car

There are various options when it comes to choosing certified pre-owned cars. The most critical factor in choosing is to go with the right dealer. Always look for one with a reputed name in the market and can offer more cars, so you don’t need to compromise on features, and you can get all the luxuries you want.

Conclusion

With so many available options, finding the perfect pre-owned car that ticks all the boxes is challenging. Therefore, it’s always better to know the pros and cons of buying a certified pre-owned vehicle before buying one.