So let’s talk about buying CPO. For those who know me I go through a lot of daily drivers
whether it be new or used. Currently driving a 2020 Trail Boss after driving a Ford Edge ST after driving a Mercedes after driving a F150 Lariat after driving a..... you get the picture.
Sometimes I think about opening up a side business to help people through the car buying experience. By doing your homework you might find that you don’t really need to pay the extra 4-5% mark up a CPO car dictates.
So what does a CPO car get you and how can you avoid paying the extra 4-5%
# Extended warranty......Look for a very low mile car no older then 3 years and find a car that was sold late in the model year or even better within the first months into the next year. The cars warranty does not start until the car is first purchased. If you can get a car with 3 years remaining on the factory warranty then you can always renegotiate a extended warranty with the dealer near the time the factory warranty runs out at a much cheaper price then a CPO warranty cost you. Also look to see if the original buyer bought a extended warranty as those are transferable. Really you need to ask yourself how long am I going to have this car.
# Special financing.... Stupid dealer trick. If you have great credit then your going to get a great rate. Never tell the sales person how you are going to finance the car or what payment you can afford. That can wait until you have agreed on a purchase price.
# More thorough inspection....It’s just a longer check list of things a mechanic checks off to make you the buyer feel good. The cars under factory warranty so it along with any recalls would have been taken care of during routine maintenance. That’s how dealers make there money from factory warranty work. If there’s a problem under warranty it’s going to get fixed.
Dealers pick and choose what cars get a CPO. You could have two identical cars, one gets it the other doesn’t. It may be a desirable model so they will make it a CPO car or a used car may have been sitting on the lot to long or they have to many of the same model cars. Not a real science behind it other then to make you feel it’s a better car then the one sitting next to it. Check the car fax history if it’s maintenance was done at Jiffy lube and tune and not the dealer then walk away.
# Roadside assistance.... AAA is still cheaper
# Free Sirius radio......Who give a shit.
# Dealer will take care of you.....Another dealer bullshit trick. I bought my Mercedes in Texas and had the service work done at Ontario Mercedes. They don’t give a rats ass where I bought the car from. It was under warranty so I got every dealer perk.
I guess it really boils down to your peace of mind. 3 years ago I bought a high end Mercedes “already sold it” that was 2 years old. It was first sold 4 months into the following year 2018. I had 4 years remaining on the factory warranty so it did not make sense to find another car that was certified CPO.
Plus remember most buyers of high end cars treat them very good. Your call my friend but with a little homework you can find a great car and a better deal without buying CPO.
Just my 2 cents
trying to save you 5% more then you need to.