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CPO's have obviously made the business of buying previously-owned vehicles less-risky...but they also, on the average, cost more. And, in my experience, some the ones I've looked at haven't always been quite the cream-puffs they are often claimed to be. IMO, that is because the check-list for a CPO is so extensive (some 160 items on the average), that many dealerships simply don't have the time for the Technicians and body-shop personnel to do everything that is mandated on the list.....they are too busy doing service, maintenance, and repairs on all of the vehicles for regular customers at the dealership. So, to compensate, they (may?) simply stick on a CPO label while, in reality, doing only half the necessary work. Or, they may only do the really obvious stuff and let minor things go.
That's not to say, of course, that CPOs are rolling pieces of junk.....far from it. On average, they ARE better and nicer than many other previously-owned vehicles. But my point was that, nonetheless, some of them still have things like rattles/squeaks, larger body-scratches/dings, worn or broken items inside, and sometimes small mechanical problems like shimmies/vibrations. These were probably things that the Techs or body-shop let go simply because they didn't have time to get to them.
Well it all depends on the specific car and the depreciation curve when talking new vs used. On some cars that have excellent resale value, like Jeep Wranglers, Toyota 4Runner, Tacoma, Tundra, etc IMO it makes more sense to buy a new one if you can afford it. Screw buying one that is 1 or 2 years old, spend the extra 3-4k and buy a new one, even if it has less options on it vs that loaded used one. Like I said, timing is everything, my Tundra was 7 years old when I bought it and had lost about 1/3rd of its value, but was still in excellent condition with low miles(56,000 for a 2011 is low IMO). If I wanted one that was 3 years newer, aka the current body style, I'd have paid a good 10k more for said truck in similar shape, miles, options. In that case, its almost like buy a new truck at those type of prices IMO.
Still on something that IMO is kind of overpriced to start with(aka Benz E-class with popular options or upgraded engine), you really do save a bundle by buying CPO. Plus you have that longer warranty to take care of the inevitable crap that breaks past the factory warranty, stuff like air suspension that costs $1500 a corner to replace is covered for a bit longer, which makes the CPO extended warranty really worth it IMO if you drive the car a lot or plan to keep it for several years.
08-03-18, 06:58 AM
Buying Used vs New: The Great Debate
