October 5, 2022
Chicago 12, Melborne City, USA
Finance

Why a certified used car might be a good choice right now

[ad_1]

If you are considering buying a certified pre-owned (CPO) or used car, now may be a good time, especially if you are considering a Honda HMC,
+ 2.03%,
Acura, or Ford F,
+ 2.88%.

The opportunity to purchase an old Honda or Acura with factory-backed warranty protection has been improved under the newly certified pre-owned program with both car manufacturers for cars up to 10 years old. In early 2021, Ford launched its own similar program.

A year ago, Ford defeated Honda and Acura in a punch, expanding its CPO program. This includes not only 10-year-old Ford models but also any buildable models.

This extra factory-backed protection can help ease the minds of customers looking for more affordable vintage car alternatives. The skyrocketing price of new cars has forced buyers to consider more affordable used cars, including models of five years or more.

Read on to find out what protection you can expect before purchasing a certified pre-owned car and the type of warranty coverage that goes with these programs.

What is a certified pre-owned car?

Certified pre-owned cars are the best-used model in a lot of used cars from a franchised dealer. Each vehicle must pass an intensive inspection by a factory-trained technician. These specialists use factory parts to replace or repair any defective components.

Automakers stand behind these vehicles with the extra limited warranty protection that any original new car warranty can have. The brand usually sweetens the deal with other CPO benefits such as special funding, 24/7 roadside assistance, a free vehicle history report and some free scheduled maintenance.

All these advantages and protection are not provided in the regularly used car. Prospective buyers should compare CPO programs because automakers visit and benefit differently.

The program used by HondaTrue

Buying a used car is always a roll of the dice. There are some guarantees. Even if the seller works with honest intent, there is no way to guess the hidden problems. CPOs, in short, offer some warranty protection against many of those unexpected repairs.

In most cases, a manufacturer reserves its CPO program for lightweight, next-model branded vehicles with a limited number of miles on the odometer. Until the launch of HondaTrue Used, Honda’s two-tier CPO program (HondaTrue Certified) has expanded to more than five years old Honda models with less than 80,000 miles on the odometer. HondaTrue Used is no older than 10 years and pushes mileage qualifiers to unlimited mileage. Thus, any 10 year old Honda model can qualify for this level.

Models covered under HondaTrue Used do not have the same warranty protection as HondaTrue Certified because its eligibility rules are less stringent. Nevertheless, every HondaTrue model used must pass a comprehensive inspection by a factory-certified technician. Moreover, it must have a clear report on the history of accident-free vehicles. Buyers can download a copy of the full 112-point checklist and view its history report before purchase.

At HondaTrue Used every Honda car received a factory-backed powertrain and non-powertrain warranty of 100 days or 5,000 miles (whichever comes first). The warranty does not cover every component but includes major systems. The Honda Certified pre-owned warranty booklet outlines what is covered.

Added-value facility

While the benefits for HondaTrue Certified models aren’t as extensive, HondaTrue Used offers some extra value to sweeten the deal. They include 24/7 roadside assistance during the HondaTrue used powertrain warranty. Another advantage of a complimentary oil change in the first year of ownership. For Powertrain’s warranty period, customers also receive limited trip disruption compensation, concierge services and a free 90-day satellite-radio service. Buyers have up to three days or up to 300 miles to trade on any Honda CPO for another CPO.

Also on MarketWatch: Crack down on Netflix password sharing? If you share an account, here’s what you need to know

Acura is used appropriately

Acura Precision Used is just like Honda’s new program. However, it reflects Acura’s upgraded accuracy certified program. There are significant differences:

  • The length of non-powertrain and powertrain warranty coverage increases to six months or 7,500 miles.

  • 24/7 roadside assistance for one year or 12,000 miles.

  • Buyers have up to seven days or up to 300 miles to exchange the Acura CPO model for another CPO vehicle.

Ford Blue Advantage

In 2021, Ford took a different turn in its CPO program when it launched its Ford Blue Advantage (FBA) to complement its existing program. Ford now calls the original program Ford Gold Advantage. The FBA is for the Ford model which is not cut for Gold Advantage. The new program extends the qualifications of 10-year-old Ford vehicles. However, it does put a 120,000-mile mileage cap on cars to qualify.

Ford is doing something different than Honda and Acura. The FBA is open to any brand model of lot used by its dealers that is eligible. The vehicle must meet FBA age and mileage requirements and must pass a 139-point inspection by a certified technician. Whether the model is a Ford or any other brand, the appropriate vehicle gets a Ford-backed 90-day or 4,000-mile limited warranty. Ford requires a 100 discount for each warranty repair.

The FBA includes 24/7 roadside assistance for up to seven years or 100,000 miles from the date of original purchase when new. It offers a 14-day or 1,000-mile money-back guarantee. In addition, FBA buyers enter the FordPass Prize with 11,000 complimentary points. These are redeemable for non-cover warranty repairs, routine maintenance and purchase of Ford products.

Read on: You can expect new car prices to start dropping

Porsche-approved

There is nothing new in the CPO program approved by Porsche. However, the current program is worth mentioning because it includes Porsche models up to the age of 13. That’s right. The Porsche model CPO warranty is still covered by the original new-car warranty when the original 4-year or 50,000-mile warranty expires. The program offers a 2-year, unlimited mileage warranty starting from the date of sale with a new Porsche CPO model with a new car warranty. The CPO warranty covers powertrains, suspension, steering, brake systems, electrical systems and more.

Special benefits include 24/7 roadside assistance and no discounts for covered repairs.

See: Good and bad news about car prices

Who else?

While the list of CPO programs that offer a degree of factory safety for older model-year vehicles is brief, we expect more car manufacturers to follow suit.

This story is basically ongoing Autotrader.com.

[ad_2]

Source link

Leave feedback about this

  • Quality
  • Price
  • Service

PROS

+
Add Field

CONS

+
Add Field
Choose Image
Choose Video
X