When shopping for a used car, you’ll often see the term Certified Pre-Owned on the used car lot sign. Ever wonder what that really means? It’s sounds so official. Take heed. Auto industry marketers came up with that term. That doesn’t mean it’s a sham. There are certain things that have to take place for a used car to be certified pre-owned. Hopefully, the peace of mind you should get from the concept is worth it.
The concept is a simple one. People who buy used cars want some sort of affirmation that the car will be reliable, plus they’re not having to pay new car prices to get that reliability. Therefore, there are certain types of used cars that usually fall into the certified pre-owned categories. Lease cars are the top inventory source. People who lease cars are very careful with them because they don’t want to have to pay extra charges when they turn the car in. You probably don’t need any certification to know those cars are in better shape.
Regardless of where the car came from, a dealer who sells certified pre-owned is supposed to run that car through a battery of tests that render it a good buy. There is some sort of warranty that backs the certification. Read the fine print, though. Warranties may vary. You can assume that Lexus has a better warranty on their used cars than Ford. Actually, Lexus is the company that started the certified pre-owned business.
As for price, a car that is certified pre-owned will cost you at least $500 more than a used car of the same caliber anywhere else. It’s up to the consumer to decide whether that extra cash is worth it in peace of mind.