SHOPSMART AUTOS – CUSTOMER INFORMATION – JUNE 9, 2021 (Part 1)
Certified Pre-Owned vs. Off-Lease Cars: Where Is the Value?
Keeping up with the Joneses is a daunting proposition these days, but there is still hope, especially when it comes to Certified Pre-Owned and Off-Lease or “gently used” automobiles and SUVs. With the price of new cars approaching what some of our parents paid for their houses a generation ago, there are still options that will help you buy your aspirational, latest-and-greatest vehicle for not as much as you may think. That brings to mind the automotive chestnut, that states, “you can’t drive your house, but you can always sleep in your car.”
First Step: Time for Some Homework
Let’s say you find your next dream car on the lot of your local Autoplex. It’s almost a no-brainer, but the smart set knows to ask the dealer for a look at the vehicle history report. If it’s not readily available, the car’s bona fides are always available through sites like Autocheck.com, Research.com and CarFax.com, which provide detailed information on a vehicle’s priors, so you can have a sense of confidence before you buy.
Find a certified pre-owned car for sale near you
CPO Is Not a Star Wars Character
-Advertisement- A Certified Pre-Owned (CPO) vehicle is one that appears to be gently used by the previous buyer, with two or three years of mileage on it (typically 24,000 to 36,000 miles) but almost new in every other way. All CPO vehicles undergo extensive, manufacturer-required, multi-point inspections and repairs, as needed, to restore all functions back to factory settings. This gives the buyer the utmost confidence that they are buying the best the brand has to offer when it comes to a pre-owned vehicle. The CPOs will have extended warranties that provide protection for additional years, and in many cases unlimited mileage, during the time the second buyer has the car. Lexus was the first brand to offer a CPO category of vehicles starting in 1993. It elevated their brand of used vehicles to stand out when viewed against the competition. Here, a customer could choose between a pre-owned BMW, for example, with limited warranty, or a Certified Lexus that had been reconditioned by factory-trained technicians and came complete with an extended warranty. According to Jim Dunn, vice president and general manager of JM Lexus in Margate, Florida, the original Lexus Certified warranty extended the original new car four-year/60,000-mile warranty to six-years/unlimited mileage.
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