Are you shopping around for a new (to you) car? Chances are you may have come across the term ‘guaranteed’ or ‘certified’ pre-owned. Some car buyers think that these terms are just fancy ways of saying a used vehicle. While these vehicles do have previous owners, they differ from your average used car in a variety of ways. Here are some of the ways that guaranteed pre-owned vehicles are different, and four perks that go along with purchasing this type of car.
Vehicle Depreciation
New vehicles depreciate rapidly. Depending on the make or model of the car, it can lose up to 30 percent of its value as soon as it’s driven off the lot. Since guaranteed and certified pre-owned cars have previous owners, they don’t depreciate as quickly as brand new vehicles. If vehicle depreciation is a major consideration for you in the buying process, it makes sense to start looking at used cars that come with a certification or guarantee.
Overall Cost
A new car is an investment. While buying a car does create value for you, the owner, buying new can be expensive. Many car buyers consider purchasing a certified or guaranteed pre-owned car because the total cost of ownership tends to be lower. Certified or guaranteed pre-owned cars are less expensive to buy than new cars, and they don’t depreciate as quickly.
Added Peace of Mind
One of the biggest hesitations potential buyers have about purchasing used cars is a lack of understanding about vehicle history. Has the car ever been involved in an accident? Has it had any expensive repairs in the past? Did the previous owner take good care of it? One of the biggest bonuses about purchasing a car that comes with a special certification or guarantee is that it has already been thoroughly inspected. The dealer will have a comprehensive history of the car available and be able to provide you with information about accidents and repairs. This gives car buyers added peace of mind as they shop, and provides you with one more reason to consider a certified or guaranteed pre-owned car.
Reliability
Since certified or guaranteed pre-owned cars have received thorough inspections, they may be more reliable than your average used vehicle. Before these cars are added to the lot for sale, they are required to meet certain standards in order to receive a special manufacturer’s warranty. Dealers will conduct a thorough inspection, checking cars for any mechanical issues and considering specific factors like age and mileage of the car. These are not your run-of-the-mill used cars.
There are a number of reasons to consider purchasing a guaranteed or certified pre-owned vehicle. These cars typically depreciate less quickly than brand new cars, the overall cost is lower than buying new, and all vehicles have undergone a thorough inspection for safety and reliability, which provides added peace of mind for car buyers. If you are looking for a reliable alternative to buying a new vehicle, consider adding certified or guaranteed pre-owned cars to your list.