Consumers are becoming more aware of the huge savings and advantages they get from purchasing a used car. In fact, millions of second-hand vehicles are sold every year. However, along with the booming pre-owned car industry, reports of vehicles sold as “slightly used” but turning out to be “lemons” are likewise on the rise. Thus, local governments and even leading car manufacturers are developing ways to protect buyers from such fraudulent practices.
A Certified pre-owned (CPO) program is a strategy in which second-hand car shoppers will be kept away from buying defective vehicles. This was initially instituted in the 1990s by luxury brands Lexus and Mercedes-Benz. Basically, CPO can be considered as a type of used car, but with more perks and rigid quality control. These automobiles are usually late models (less than five years old) and unlike ordinary used cars, CPO autos are thoroughly inspected, refurbished, and certified by the manufacturer or other accrediting authority. If you live in Ontario, there are a number of dealerships that sell CPO cars.
Why are CPO cars a better option for used car buyers?
Although you might have to pay more for CPO cars compared to a common used car, you can consider the extra cash that you’ll spend as a guarantee that you’ll have peace of mind. These reconditioned cars have relatively low mileage, extended warranties, special financing, and no history of major damage or accidents. You don’t have to worry about hidden bodyworks, tampered odometers, or frequent mechanical failures.
Drivers of certified used cars Oshawa dealerships sell are able to enjoy new-car-like convenience and feel without the expensive price tag. Thanks to CPO programs, even a number of luxury vehicles have become more affordable. Manufacturers could extend their brands and boost turnover rates on their used cars. Overall, CPO programs are beneficial to both producers and consumers, thereby increasing its popularity.
CPO: A Trend That’s Here to Stay
According to CNW, a marketing research company, the number of sold manufacturer-certified used cars skyrocketed from about 450,000 in 1997 to 1,375,000 in 2004. Also, CPO cars account for 41% of sales in all used car dealerships in 2005, based on a 2005 study by J.D. Power and Associates (JDPA) – a 4% rise from their 2004 results. It could be that majority of used cars Oshawa residents drive are certified.
These days, when you walk into a dealership for used cars Whitby locals can depend on and ask about their CPO vehicles, you’re most likely to see a car that looks like new. Though it may not be the latest model, the rewards and benefits attached to these dependable cars are more than enough. For more information about CPO programs, visit http://usedcars.about.com/od/certifiedpreowned/a/CertPreOwned.htm.
Certified Pre-owned Cars: A Third Automobile Category?