The tough choices buyers usually face when buying a car revolve around certified pre-owned versus new ones. While both the certified pre-owned and new cars boast some favorable pros, the best option for you is no doubt going to depend on your budget, needs, and preference. This guide will help you weigh your options with the pros and cons of certified pre-owned and new cars for an informed decision.
What is a Certified Pre-Owned Car?
Pre-owned certified cars are used cars that, with extended processes by the manufacturer or dealer, get inspected and refurbished. They are mostly sold with extended warranties, roadside assistance, and some other added benefits for added peace of mind. Thus, CPOs are mainly preferred by those buyers who want almost new cars at usually less than full price.
Benefits of Certified Pre-Owned Cars
1.Less Price
Probably the greatest advantage single that CPO cars possess over new ones is in the price; the CPO cars are far cheaper compared to new ones. You get to own a fine car without breaking your wallet. As a result of the generally lower purchase price, many times you can afford to buy a higher model or have features that you couldn’t afford if you were buying new.
2.Extended Warranty
The major advantage a CPO car has is the extended warranty that covers big repairs for a specified period of time or miles. The protection accorded to someone by such a warranty will be as good as those accorded to new ones, in that one will have peace of mind.
3.Thorough Inspection and Reconditioning
It involves an involving process of inspection for it to meet the set standards of the manufacturer. This will involve the checking of the interior and the engine, among others, which will see you get a very good car.
4.Less Depreciation
New cars lose so much of their value right after they leave the dealer’s property. However, CPO cars have been through the steepest part of their depreciation. This therefore means you might lose less money on a CPO car in case you later decide to sell it.
New Cars Advantages
1.Latest Technology and Features
New cars boast the newest technologies in safety, design features, among others. If having the latest, most advanced infotainment system, advanced driver assistance features, or a new design is important or necessary for you, then you should buy a new car.
2.Full Manufacturer’s Warranty
New cars have a full manufacturer’s warranty; this entitles the owner to repairs and maintenance for the first few years. This relieves you of some extra cash used for unexpected repairs, and you will go with peace of mind, knowing your car is fully protected.
3.No Previous Owners
A new car means you don’t have to take anyone else’s word for how well they treated the vehicle. You get a clean slate with a car that no one else has ever driven, which is a major plus for some buyers.
4.Better Financing Options
Many dealerships have special financing rates, rebates and incentives on new cars that simply aren’t available when it comes to used or CPO vehicles. In this case, these offers make purchasing a new car more affordable than you might have imagined.
Which Is the Better Deal?
When value is what you’re after, and you want to have an almost new car with added warranty and lesser depreciation, then it would be better with a Certified Pre-Owned Car. They are ideal for those buyers who wish to get the ultimate best of both worlds: a high-quality car for a relatively lower price with less financial loss over time.
If you want new tech, safety features, and peace of mind with being the first owner of a car, you cannot go wrong with a new one. New cars boast a full warranty, no previous owners, and possible financing deals-all of which make new cars sound quite appealing if you can afford to purchase one.
Conclusion
It all comes down to prioritizing your needs when it concerns a Certified Pre-Owned versus a new car. In the case that the money is something that means more to you, but you still want to take advantage of many of the benefits of buying new, then go with a CPO vehicle. Most likely, you will want the newest model with all bells and whistles that come with the newer features; thus, it would be worth investing more money in a new car. You must reevaluate your needs and budget in relation to your future plans so that you can tell which deal is serving you better.