Hey everyone, welcome back to my vehicles and motors blog. Have any of you been in the market to buy a new, or new to you vehicle recently? My youngest just went through the process of buying her first car and it took a lot of talking from me and my wife to convince her to stop looking at cars fresh on the lot and to look at a pre owned or even a certified pre-owned vehicle. The former can be found all over the internet, posted on telephone poles around the neighborhood or even sitting in someone’s garage. A certified pre-owned vehicle however is usually bought from a licensed new car dealer. These cars typically come with a lot more checks than other used car you can buy, including those from a pre owned dealership.
The most important difference in a pre-owned and new car is the price. On average, a two year old certified pre-owned is 25% cheaper than its new version. Similarly, a 4 year old is 40% cheaper. You can stand to save even more if you buy a non certified pre-owned, but the risk is not always worth it. Since certified pre-owned vehicles are inspected more thoroughly you may end up saving money in the long run since you won’t need an additional inspection and (hopefully) any major work.
Warranties are another major up side to a certified pre-owned. You may pay a premium, but that premium is worth it with some warranties included. Some certified pre-owned cars will have a very extensive warranties with little or no deductibles, while others may cost a fee to transfer the warranty to a new driver. Make sure to clarify any questions you have about the warranty including fees, deductibles and limits with the dealers.