Though the new car market continues to race ahead on its path to a full recovery, used cars are still the way to go for many. In fact, demand for used cars is so strong that previously-owned car values are close to record highs.
There are many options used car buyers need to consider. One of the most enticing is the certified used car. Buying a certified used car gives a buyer many of the same benefits that purchasing a new car does such as a lengthy warranty. Of course, these benefits are not free meaning that not every used car purchase needs to be a certified used car purchase.
If you are looking for a previously-owned vehicle, you should seriously consider going the certified used car route in the following instances.
- If you would like to be the proud owner of a luxury brand. These are expensive to repair.
- Only if the certification is from a franchised new car dealership. A certified used car from a used car lot is simply not covered as well as one from a new car dealership.
- When the warranty requires no financial payments to be made by you. Avoid warranties that will reimburse you for work you have paid for.
Typically, it will be slightly easier to an auto loan with low credit score for a used car; however, CPO vehicles may have higher approval standards than regular pre-owned vehicles. If you are in the market, be sure to check out our list of the 10 cars easier cars to finance. Many are available through Certified Pre-owned Programs.