So much of our language is punctuated with abbreviations and jargon. When you are thinking about buying a car, for instance, you are likely to encounter a fair amount of these things.
If you have got your eye on a few models at a Chevy dealership, for instance, you are highly likely to see the term “CPO” used somewhere in the sales details. This is actually an abbreviation of Certified Pre-Owned, and many reputable dealerships will use this reassuring term. But what does it mean?
Let’s cut through the jargon and explain what this term means, and why it can make a big difference to your purchasing decision.
Understanding the relevance of buying a car that is certified pre-owned
In simple terms, when a car is Certified Pre-Owned it means that you are looking at a used car that has passed a manufacturer-backed inspection and meets strict requirements before being resold.
A car being sold under this banner comes with guarantees about its condition, age, mileage, and reliability.
A good way to think of it would be that it is an extra level of reassurance and provides peace of mind when you are in that middle ground between new and used. It is designed to take an element of worry and risk away when you buy a used car. You know that what you are buying meets a certain standard of mechanical condition and the documentation for the vehicle has been verified as accurate.
A quick look at the certification process
It’s important to appreciate that this certification isn’t just a marketing label, as it’s backed by a formal inspection process. While specific requirements can vary by manufacturer, most programs share some common ground when it comes to what the certification covers.
These include age and mileage limits. Typically, CPO cars must be under 5 or 6 years old and have fewer than 60,000 to 80,000 miles. You can also expect a multi-point inspection to have been carried out on the vehicle. Dealership technicians inspect hundreds of different components, such as the engine, transmission, brakes, electronics, and the car’s interior condition.
If anything is found that doesn’t meet the required standards, it’s repaired or replaced with genuine parts before the car is certified.
What all this means is that you’re buying something that has been vetted to meet the automaker’s standards.
Enjoy peace of mind with an extended warranty
Arguably, one of the biggest selling points of buying a car under this scheme is the warranty that comes with it. You are removing an element of risk that can exist when you buy a used car without knowing whether it has any problems or documentation issues.
The key benefits of a certified pre-owned car include an extended warranty, powertrain protection, and roadside assistance. You will find that each warranty will have differing terms, according to the brand you buy. However, the extra protection they all offer is something you wouldn’t get with a normal used car.
Feel the benefits
Overall, buying a certified pre-owned car can be an attractive proposition for a variety of compelling reasons.
You will enjoy greater peace of mind as the inspection and warranty process means less prospect of a nasty surprise down the road. Buying a certified pre-owned car is also a no-brainer from a financial point of view. You won’t get the depreciation hit associated with a brand new car, but you will still get to own a car that meets a high standard.
You can also find that cars sold under this scheme tend to attract a lower interest loan rate as the risk is deemed to be lower.
Now you understand why the idea of a certified pre-owned car is so popular, you might want to check out a model that you might want to buy under this scheme.
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