If you have decided to buy a used car, it makes more sense to go with certified pre-owned (CPO) vehicle rather than buying otherwise. You will find them a bit expensive than the non-CPO vehicles, but they are worth every penny. Going through the following benefits will make you realise it.
- These certified pre-owned programs are offered by auto manufacturers on only those vehicles that have a clean history, low mileage and qualify for it. The vehicle undergoes a rigorous 100-200 point check before it is approved for this program to be ready for resale. If the vehicle fails in any of these tests, it is deemed unfit for resale. Every major city has such certified used cars providers. For instance, if you want certified used cars in Mumbai, you can check with Maruti or Hyundai etc.
- The used car dealers normally give a very short warranty that lasts only for 30-60 days, but the vehicles under the CPO programs come with extended warranties. There are different formulas based on which these periods are calculated. In most of the cases, it is somewhere between 12-24 months from the date of purchase.
- If you buy a CPO vehicle, there is a high probability of getting 24-hrs roadside assistance in case of a breakdown as it comes embedded with extended warranty.
- If you are thinking of taking a loan for buying the used car then again buying a CPO vehicle makes more sense. This is because most banks finance these vehicles at lower interest rates than the non-CPO vehicles. Thus, the slightly higher cost of the CPO vehicles gets compensated in the interest rate with the added advantage of getting peace of mind.
- These vehicles also have a free maintenance for some specified period or till a particular mileage as specified in the certification process. It does not include complete maintenance, but getting something is better than nothing.
If you are someone who has a habit of keeping aside some money for the rainy day or go for AMC (Annual Maintenance Contract) for all your major appliances, then CPO vehicle is the right choice for you. Depending on the brand, the cost difference between the CPO and the non-CPO vehicle can be anywhere between 3 to 7 percent, but this is the price that you pay for your peace of mind.