If you’ve been thinking that it is time to get a new car, but your budget suggests otherwise, you may want to consider a certified pre-owned car as an alternative. In the past, buying a used car was really risky business, and when buying from an individual, it still is. With luck, you may find a great deal, but you may just as easily take someone else’s problem. For buyers in McAllen, Texas, used cars don’t have to be such a gamble. Luxury cars were among the first to offer certified pre-owned vehicles opening up a whole world of opportunity for people who would like to own a beautiful vehicle without breaking the bank. More than “used cars,” certified pre-owned vehicles offer a wealth of added benefits.
“Certified Pre-owned” is not just a fancy way of saying “used”. It means that when a vehicle is traded in, the dealer inspects and repairs it and the buyer has warranty options. If the vehicle is part of a factory certification program, it carries a warranty included in the price. If the dealer certifies the vehicle, the buyer may have to purchase an extended warranty package from the dealer to cover repairs. Removing some of the risk from buying used cars makes the deal far more attractive to the buyer, and he is more likely to buy the same kind of car when he is able to purchase a new one.
Some of the benefits of buying factory Certified Pre-owned or CPO cars are:
• Manufacturers have high standards for the vehicles they certify; generally, late-models with low mileage and no major damages.
• To avoid risk of any kind, the factory requires a detailed inspection of both mechanical and cosmetic aspects of the vehicle.
• Normally, there is a special warranty that extends beyond the original factory offer and includes many of the same special features as with a new car.
• Many manufacturers offer special low-rate financing.
All CPO vehicles can boast certain benefits that new cars cannot:
Less depreciation in value from time of purchase. A new car will lose approximately 30 percent of its value in the first two years.
Lower price. You can get a nice vehicle for about a third of the price of a new one.
Lower down payment. Since the down payment is generally a percentage of the total price, the cash required up front is less on a used car.
Lower insurance rates. Because the vehicle is cheaper to replace than a new one, the insurance premium will be lower.
There are plenty of opportunities for people to find great bargains, and some of the best deals are Certified Pre-owned vehicles at your local McAllen, Texas used cars dealer.