Certified Pre-owned Vehicles
Time was when a “used car with peace of mind” seemed like an oxymoron. Despite your best efforts to research your purchase, there was still a chance that you might end up with a lemon. And with no warranty to cover potentially costly repairs, a used car could easily be a risk not worth taking. But a different class of used cars has reduced the element of risk associated with buying a previously owned vehicle. Called certified pre-owned vehicles, these reconditioned used vehicles come with a raft of benefits that were once enjoyed only by buyers of new cars.   What are certified pre-owned vehicles?   Certified pre-owned vehicles are used vehicles that have been put through a rigorous inspection process by their respective manufacturers, given an extended warranty, and sold with a slew of perks that often include reduced-rate financing, 24-hour roadside assistance, and a fairly reasonable return policy. Many certified pre-owned vehicles are low-mileage, late-model used vehicles that have recently come off leasing programs; therefore, most of them are still covered under their original warranties.   For a used vehicle to earn certification, it must pass an extensive 40- to 100-point inspection and reconditioning specified by the manufacturer. In addition to the balance of the vehicle’s original warranty, manufacturers often attach an extended warranty that covers major driveline and other components. Extended warranties vary in length and amount of coverage from manufacturer to manufacturer. For instance, Chrysler provides an additional 8-year/80,000-mile powertrain warranty, while GMC offers an extra 3-month/3,000-mile comprehensive warranty.   What are the benefits of buying a certified pre-owned vehicle?   Certified pre-owned vehicles appeal to car buyers who want to have the peace of mind that comes with a new car but can’t afford a new set of wheels. Furthermore, certified pre-owned cars give buyers an opportunity to own a vehicle they otherwise could not afford, such as a luxury sedan or an SUV. Combined with an extended warranty, the stringent inspection and reconditioning provides a significant level of comfort and security to wary used-car buyers. Buyers who opt for certified pre-owned vehicles avoid the depreciation hit that strikes new cars during the first three to five years of ownership. Bundled with perks that manufacturers throw in to sweeten the pot, certified pre-owned vehicles represent an amazing deal.