Going CPO? Look to GM!
There are two ways of looking at Certified Pre-Owned cars:
- As overpriced used cars
- As value-priced new-car alternatives
Yes, buying a CPO vehicle will cost more than buying an as-is used car from a dealer or private party. The upside, though, is a warranty of some kind along with the peace of mind that comes with knowing the car underwent a 2,163-point inspection or whatever is standard now at dealerships.
The target market for CPO cars is people who want an alternative to a new car, but with the same assurance that if something goes wrong, they’re covered.
Virtually all automakers offer some kind of CPO program, and General Motors’ has recently been recognized as one of the best.
GM Certified Pre-Owned vehicles include a 2-year, 30,000-mile scheduled maintenance plan, which includes oil changes and tire rotations. That’s not a huge money saver to consumers, but it does add some measurable value to the cars. Buyers also get a 12-month/12,000-mile bumper-to-bumper warranty and a 5-year/100,000-mile powertrain warranty, all with no deductible.
Those factors, along with taking into account depreciation, fees and taxes, financing, fuel, insurance, maintenance and repairs led Vincentric, an automotive data firm, to label 8 GM vehicles as the Best Certified Pre-Owned Values in America.
The press release doesn’t provide any comparisons or show exactly how the numbers stack up against those of competing CPO programs, so we’re left to assume that General Motors’ truly is the best. It’s always a good idea, of course, to compare vehicles and CPO programs for yourself to find the one that feels right.
General Motors might offer free oil changes, but Toyota might offer a vehicle that better fits your needs. Awards like these make for interesting press releases and fodder for bloggers, but the real judge of who has the best program is you.
In your opinion, are Certified Pre-Owned cars worth the extra money?