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It may very well be! It was for The Car Maven! We are thrilled with our Certified Pre-Owned vehicle that we purchased, a current model year that had only 86 miles on it! Wink-wink.....you just need to know where to look, and which questions to ask! That's why we're here...to help you navigate which options are best for you.
Many automakers have variations in their Certified Pre-owned program offerings. Beyond the warranty (the certification), the inspection, and the potential 3-day return guarantee, there are little-known facts that can help guide you to the right brand of certified pre-owned vehicle. Depending on your vehicle interests, and the time of the year, there can be some very good buys.
For some definitions on commonly used terms, see below:
Certified pre-owned vehicle: A previously owned vehicle sold with the original manufacturer’s certification that the vehicle is in optimal condition. The manufacturers select vehicles based on age, mileage and a multiple-point inspection process. Age, mileage and inspection criteria vary by manufacturer.
Point inspection: A comprehensive vehicle inspection to ensure that the vehicle is in excellent working order. The point inspection is a list of the parts of the vehicle that are examined. Each manufacturer has its own inspection list, but most are similar. All inspections are performed under strict manufacturer guidelines.
Warranty details: Most certified pre-owned warranty programs transfer and extend the existing new-car warranty terms or add terms and mileage. Warranty coverage varies by manufacturer.
Warranty deductible: The amount the owner is responsible for when repair work is performed under CPO warranty. Many manufacturers do not require a deductible.
Transferable warranty: If the owner of a certified pre-owned vehicle sells the vehicle and it is within the warranty period, the new owner may be eligible for a transfer of the warranty. Some manufacturers require the new owner to pay a transfer fee.
Vehicle criteria: To be considered for certification, a vehicle must be a recent model year, have limited mileage and pass a multiple-point inspection. Each manufacturer has its own requirements.
For a comprehensive summary of auto makers' Certified Pre-Owned program elements, click the button below.....and follow us on Facebook!
SOURCE: Automotive News