Three Misconceptions that Surround CPOs
When customers are shopping for a replacement vehicle, they often limit themselves to new or used cars. You’re probably thinking that that this isn’t much of a surprise considering there aren’t any alternatives to these two options. However, unbeknownst to many consumers, there actually is another route.
Certified preowned vehicles provide customers with all of the financial advantages that accompany a used car, but with only a fraction of the risk. After all, these vehicles are backed by the manufacturer, and the brand’s 100-step inspection process assures that customers won’t be receiving a neglected or declining vehicle.
Of course, like many other aspects of the automotive industry, there are a variety of misconceptions that surround these certified preowned vehicles. Fortunately for you, we’re here to help. We’ve provided all of the information you need below, which should hopefully eliminate any of the worries you had regarding these types of vehicles. When you’re finished reading, you should have more clarity on why certified preowned cars may be the proper choice for you…
Misconception #1: Unfair Warranty Details
Warranties may be one of the most appreciated add-ons that a dealership could accompany with one of their certified preowned cars. However, it’s important to understand all of the nuances and terms that surround these types of protections.
Some customers may assume that their particular warranty covers everything under the sun, but we’re going to assume that this isn’t actually the case. Some vehicles may not include protections on any mechanical issues, and the dealership or brand may be unwilling to cover any damage that could be attributed to the driver. Furthermore, these warranties may account for some major parts (like an engine, suspension system, or braking unit), but they don’t account for all of the small, essential accompanying pieces.
Furthermore, deductibles often accompany these warranties, meaning you’ll still have to pay a chunk of money for any repairs (albeit, it’ll be cheaper than if you didn’t have the warranty). If you’re in the situation where you have to pay extra for a warranty, you’ll want to weigh the normal cost of a repair against the cost of a warranty plus any relevant deductibles.
Speaking of purchasing a warranty, you shouldn’t assume that these protections are automatically included in the value of a certified preowned car. Sure, many dealerships will just include these warranties in the price of the car (some even offer the original warranty for free), but others may require you to purchase these services. Understand the differences before you make a decision.
What does this mean? Well, hopefully your operation of a vehicle isn’t dependent on the certified preowned car’s warranty. In other words, you shouldn’t mistreat the ride just because you think the brand will cover you. The likelier outcome is that they won’t cover these issues. The best route is understanding all of the applicable information as soon as you can.
Misconception #2: CPOs Are the Same as Used Cars
This may be one of the most common misconceptions that surround certified preowned cars. Many people assume that these options are just souped-up, pricier alternatives to used cars. Sure, this isn’t entirely wrong, but this sentiment is missing one major factor: reliability.
Certified preowned cars are vehicles that have been completely backed by the brand. This means the car has undergone an extensive inspection before being placed on the lot. These inspections often have to fulfill a plus-100-step process, assuring that they’re up to the standards set by the company.
What does this mean for a customer? It means that there doesn’t have to be any worry when it comes to the vehicle’s reliability. These certified preowned cars can be depended on a whole lot more than their standard used counterparts. While this is reflected in the price tag (CPOs value sometimes rival the value of brand-new cars), it should also help you avoid any of the skepticism or apprehension that accompanies purchasing a non-new car.
On the flip side, there’s no way to confirm the reliability of a standard used car besides giving it a prolonged test drive. These vehicles may have some hidden issues, or they may not provide the performance that you’ve come to expect. In the worst case, you could come across a lemon, which is essentially a car that doesn’t operate.
Why take the risk? You can avoid all of these issues by pursuing a certified preowned car.
Misconception #3: Unjustified Price
We did mention that certified preowned cars are generally more expensive than their used counterparts, and you’ll often see that the value of the vehicles even rivals their new counterparts.
This may be accurate in some cases, but customers shouldn’t assume that this will be consistent. Rather, certified preowned cars don’t tend to be a whole lot more expensive than rival vehicles. One study suggested that CPOs are about $800 more than standard used cars, which doesn’t seem to be too much of a financial obligation considering the reliability aspect.
If a new car appears to be too pricey for you, a CPO could be the way to go. You could acquire a practically-new vehicle for a fraction of the price, and the multi-step inspection makes these targets just as reliable as their new counterparts. Many vehicles that have been backed by the manufacturer are previous trade-ins, so you shouldn’t be shocked if you come across a recent-year model.
See? These misconceptions make some sense, but we’ve ultimately proved that they’re not accurate. Whether you’re worried about too-good-to-be-true warranties or the high price tag, you should rest easy knowing that these generalizations are essentially false.
Certified preowned cars provide you with a financial advantage that you can’t find from new cars, and their quality trumps that of their used counterparts. When it comes down to it, why wouldn’t you pursue one of these offerings?
For those living in the Albany, New York area, DePaula Chevrolet provides everything you could possibly need from a dealership, whether you’re pursuing a certified preowned car or one of their other offerings.