The automotive market has three different degrees of vehicles; new, used, and a new variety called certified pre-owned models.
The models that have received a CPO grade are used vehicles that have been inspected, checked, and validated to be a quality vehicle that’s worthy of having an extended powertrain warranty offered. The CPO models you’ll find fit between the new and used vehicles on the market, which is what we find in our discussion.
New vs CPO
There’s no denying the benefits offered in a new vehicle. You have a vehicle that’s never been driven before and you get to be the first owner of it. You have the new car smell and an excellent warranty that will make it easy for you to feel confident in the car you choose for several years. These benefits do come at a price that’s higher than any other type of model for the car you want to drive.
When you choose a CPO model, you receive an excellent extended warranty from the automakers to give you the peace of mind that you want to enjoy. The CPO model has been put through an inspection process and it meets specific standards, making it a car you can trust. You’ll save a lot of money when choosing a certified pre-owned model instead of a new vehicle when you’re ready to drive.
CPO vs Used
When you choose a used car to drive, there’s always a concern for reliability and safety. Many used cars are offered with a short, three-month/3,000-mile, powertrain warranty and that’s it. If something goes wrong outside of that timeframe, you’re on the hook for the repairs and will be stuck with a car that doesn’t give you the drive that you want to enjoy. The price for a used car is much cheaper than for a new model, but that lower price does come with some inherent risks, which you’ll have to absorb on your own.
Choose a certified pre-owned model and you’ll have to pay more for the car than you would for a used model, but you’ll have the added protection of the warranty that comes with a CPO model. When you have a vehicle that’s a certified model, you’ll also know that you have low miles and a reasonably new vehicle that’s been properly inspected for you.
What Should You Drive?
Should you drive a new, used, or certified pre-owned vehicle? The choice is yours, but so is the level of risk, reward, and price that you’re going to deal with. A new vehicle is the most expensive but comes with the least risk although a new model depreciates the fastest. A used vehicle costs the least but comes with the greatest risk to you. If you choose a certified pre-owned model, you’ll have a balance of price, protection, and depreciation to give you the sweet spot of vehicle driving that you want to enjoy.