Certified used and pre-owned vehicles may be more expensive than the same used cars in their class, but offer better incentives during the time you buy. If convenience and customer satisfaction are part of your vehicle checklist, note the special deals offered by manufacturers. Staying aware of special sale days, watching for certified pre-owned vehicle financing incentives and comparing additional warranties can provide you with extra benefits when the shopping process is over.
Pre-Owned Vehicle Financing Incentives and Warranties
A certified used or pre-owned vehicle allows you to purchase a car with options you may not normally be able to afford on a new vehicle. Luxury cars with extended warranties will be offered at reduced prices, and include the same types of benefits the dealership offered customers who bought new cars. These benefits may include: • 24-hour roadside assistance • Car rental allowance and reimbursement • Complimentary loaner cars • Designated customer assistance center and 800 number • Destination expense compensation • Full bumper-to-bumper warranties • Trip interruption coverage. Depending on the brand of car you chose, most warranties will vary greatly in the range of time offered by their warranties. A limited warranty may be as short as three months, while other manufacturers could offer more than six years worth of coverage. Other dealerships may offer extended warranties but include $50 to $500 deductibles for repairs.
Special Offers
Many car manufacturers provide limited-time special offers for their certified used or pre-owned vehicles. These offers can include cash back payment credits, financing below 1 percent or free maintenance for a specified amount of time and mileage. President’s day sales and other events can shave up to $1,500 off the purchase of a certified used or pre-owned car (Consumer Reports, 2008). This type of sale may allow you to buy a year old or certified used car that was previously out of your price range.
Trade-In Value
If you’re looking to trade in your current vehicle for a certified used or pre-owned car, check the Kelly Blue Book® values of both automobiles before you approach a dealership. Look at the prices other sellers are getting for your current and future vehicle, and use that information when you approach a dealer. Getting the best used car rebate may take extensive research, pre-approval for a loan and a bit of negotiating. When learning how pre-owned cars become certified used vehicles, review the incentives that may contribute to the added cost .