Certified Pre-Owned Vehicles The Hot Ticket

If you're looking to pick up a new or used car, Certified Pre Owned might be the way for you and with a large supply and low sales, retailers are looking to cut you deal.

The Auto Channel: "While certified pre-owned (CPO) vehicles are gaining share of the used-vehicle market, many of the sales and marketing efforts may not be communicating the value of certification to consumers, according to the J.D. Power and Associates 2005 Used Vehicle Sales and Certification StudySM released today.

The study, in its fourth year, finds that 38 percent of late-model used vehicle buyers are purchasing a certified vehicle, compared to 35 percent in 2004. However, the majority of CPO buyers surveyed indicated the primary reason they purchased a certified vehicle was not due to their awareness of the CPO program. Rather, it was due to the availability of their vehicle of choice, which just happened to be certified. This indifference toward certification contributes to a lack of understanding as to what constitutes a certified program. Sixty-four percent of CPO-vehicle buyers said they first became aware of the certification program that they eventually purchased while at the dealership."

My advice is, don't be afraid to walk through the Certified Pre Owned section of the lot. Unlike the used car's that we're used to seeing portrayed on TV, CPO's often come with a warranty from the dealership protecting you from the misuse of previous owners/leasers. CPO's are also usually priced lower, a fact that appeals to many finance companies for hard-to-finance car buyers.

So next time you're in the lot, check it out. You never know what you'll find.

Posted by Loyd on May 11, 2005 | 0 Comments

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