Pat’s Perspective – C-P-O’s

I think there may be more fake stories about cars then politics. Myths like, buy a used car and all you’re getting is someone else’s problems. That’s pure garbage. I don’t know if that ever was true, but I do know it isn’t true today. Sure, some used cars are dogs, but many late model used cars are creampuffs due to leasing.

Lots of Drivers lease their new cars to get a lower payment or tax advantage. The typical lease is three years and comes with very strict requirements for maintenance and appearance care. When these cars are turned back in at the end of the lease, the great ones usually become certified pre-owned or C-P-O cars. CPO cars are generally good deals, because they’re thoroughly checked out. Someone else has also paid the big, or in many cases, huge initial depreciation hit for you! Plus, CPO’s have a warranty that may be better than the new car warranty. You also still save some money!

On a three year old luxury or near-luxury CPO, you might save twenty to forty percent or more compared to new. You can choose between paying less money or the same money and step up to a higher level of car. Of course, always get a Carfax vehicle history report, have any car checked from bumper to bumper by a qualified technician before you buy. But do it right, and you will be driving a car where someone else paid your initial depreciation for you. Now that’s smart!

-Pat Goss

1 comment

February 9, 2017 at 10:21 pm

Hi Pat,

Great site! I bought a used 2004 Olds Alero in 2005 w 17000 miles on it for less than half its original sticker price of $23,000+ (paid $11,000 at a dealer). In the 12 years I have driven it (including once across the US from Chicago to LA) it has needed 1 fuel regulator and 1 water pump. The finish looks as good today and runs as well as it did in 2005. It is a dependable car and I love it! And, every year I keep it it is making me money because I have no car payments. So, I hear what you’re saying. Thanks for the article!

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