Taking The Risk Out Of Buying An Used Car

Filed Under: Vehicle    by: Jepan Mihai

Used Cars. A simple term that has a different meaning for most car buyers. Conventional wisdom says that buying a used car is buying someone else’s woe’s. However, as the quality of new cars has improved, the risk of buying a late model used car has gone down. In fact, the motor industry doesn’t even call them used cars anymore. The term they use now is pre owned vehicles.

There is a growing market in this country for used vehicles that have been put through a Certified Pre-Owned program. Certified pre owned vehicles give the consumer a chance to buy the latest models, often only a few years old, at a big savings over a new car.

More than a third of all late model used cars and trucks sold last came with a Certified Pre-Owned designation. They are typically vehicles that have low mileage, and have been put through a battery of tests to make sure they are in tip-top condition. Vehicles that fall into this category are mostly just off-lease, secured from factory executive car auctions, from rental fleets, or the very best trade-ins.

Smart consumers think of these vehicles as the best in their class.

According to market research one can expect to pay a premium of between four and seven percent for a vehicle with the Certified Pre-Owned certification .They may cost a little more than you’d expect to pay for a used car, but when you look at all the checks and balances performed and the extra warranty, it’s easily worth it.

Some of the benefits include all vehicle parts that are even partially worn have been replaced. Many Certified Pre-Owned cars come with new brake pads, hoses, accessory belts, wipers and batteries. Their engines and transmissions have been checked and overhauled if necessary; minor exterior damage — like scrapes, dents and tattered trim — is repaired or replaced; carpets and seat upholstery are shampooed or cleaned, and if they don’t look like new, are replaced.

Beyond that, certified programs provide additional warranties, often up to 100,000 miles, and may also include perks like roadside assistance. This kind of warranty actually exceeds the coverage offered by the factory when it was new. Certification programs increase buyer confidence about the quality of a used vehicle.

But, don’t just buy any vehicle that is labeled Certified Pre-Owned. Also, ask to see the checklist on the car or truck of your choice so you will know exactly what has been serviced.

Simply put, buying a Certified Pre-Owned vehicle is really a win win situation for everyone. Manufacturers make money on vehicles they had in fleets or on lease, dealers increase their income percentage compared to new car sales, and customers walk away feeling better about some of the built-in guarantees.

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