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Old Yesterday, 01:59 PM
 
Location: Aurora Denveralis
4,612 posts, read 1,530,574 times
Reputation: 6616

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Quote:
Originally Posted by JONOV View Post
The other thing to look at, is it not certified because it can't be certified (IE, its the Cheapest 2016 Camry on the Toyota lot with 12 of them because it can't be certified) or is it that the seller isn't in network to certify it? IE, a used Lexus on the lot at the Ford dealer.
CPO does seem to be a mostly brand-specific thing, but as there's no fixed definition a dealer could in theory dust off a Yugo and call it CPO... it all comes down to what they are actually offering under that term. Again, and AFAIK, new-car dealers in particular can't sell a substandard car; they have to fix all safety issues and possibly meet all recalls etc. before they can sell it. So the "inspection" part doesn't mean much and you can have it done on any car you choose (and better, probably)... so what are you getting for your "CPO" premium?

Most high-end brands (like the Porsche mentioned above) are a different box of cookies; I'd put more faith in a Porsche/Audi/BMW/MB etc. CPO program but still look over the details.
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Old Yesterday, 04:05 PM
 
Location: Raleigh
7,394 posts, read 5,489,196 times
Reputation: 10129
Quote:
Originally Posted by Quietude View Post
CPO does seem to be a mostly brand-specific thing, but as there's no fixed definition a dealer could in theory dust off a Yugo and call it CPO... it all comes down to what they are actually offering under that term. Again, and AFAIK, new-car dealers in particular can't sell a substandard car; they have to fix all safety issues and possibly meet all recalls etc. before they can sell it. So the "inspection" part doesn't mean much and you can have it done on any car you choose (and better, probably)... so what are you getting for your "CPO" premium?

Most high-end brands (like the Porsche mentioned above) are a different box of cookies; I'd put more faith in a Porsche/Audi/BMW/MB etc. CPO program but still look over the details.
Yeah...Most cars, on their own, are likely to qualify if they fall within years and mileage parameters...So sometimes you get a financing spiff, an extended powertrain warranty that's unlikely to come into play anyway. Meh.
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Old Yesterday, 06:00 PM
 
1,945 posts, read 459,675 times
Reputation: 2236
Quote:
Originally Posted by Teckeeee View Post
I am looking at buying a Subaru WRX although I saw a Forester XT with turbo. I want a turbo very helpful in So Cal traffic.

Is it worth paying for Certified Pre Owned?

I think I could have my ASE Master Mechanic do the same checks for less $$.

You constructive input is appreciated
Unless you have a credit union that will offer you 2.5% on a used auto, just buy it new. Financing is better. Don't ever buy a used performance car like a WRX STi.
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Old Yesterday, 06:04 PM
 
Location: Aurora Denveralis
4,612 posts, read 1,530,574 times
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Quote:
Originally Posted by JONOV View Post
Yeah...Most cars, on their own, are likely to qualify if they fall within years and mileage parameters...
That's what leasing is all about and why the mileage limits have dropped, the mileage penalties have skyrocketed and things like wear and tear are judged more strictly. They want a "new" car back to resell.
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Old Yesterday, 06:07 PM
 
Location: Aurora Denveralis
4,612 posts, read 1,530,574 times
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Quote:
Originally Posted by ddm2k View Post
Unless you have a credit union that will offer you 2.5% on a used auto, just buy it new. Financing is better. Don't ever buy a used performance car like a WRX STi.
I can't necessarily argue with the last sentence except that I'd cut it to "used WRX." There doesn't seem to be any other model of car driven to such idiotic levels..

New car cost + cheaper financing, though, is not necessarily going to be better than used + reasonable financing. It's very much a "do the math" thing, not getting excited about a 0-2% rate.
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Old Yesterday, 07:21 PM
 
1,945 posts, read 459,675 times
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Quote:
Originally Posted by Quietude View Post
I can't necessarily argue with the last sentence except that I'd cut it to "used WRX." There doesn't seem to be any other model of car driven to such idiotic levels..

New car cost + cheaper financing, though, is not necessarily going to be better than used + reasonable financing. It's very much a "do the math" thing, not getting excited about a 0-2% rate.
I guess I didn't do a good job at conveying my message, I was just speaking to the availability of consumer-sourced financing (at better rates) than offered by the dealer's finance dept: with the advent of the internet and popularization of credit unions lending at 2% vs. retail banks (this includes Ford Credit, Toyota Credit) lending higher, there is no benefit to going with dealer financing unless you are offered both 0% AND get to keep all rebates, decline extended warranties, etc. Rarely if ever will happen.

Of course the purchase price will still be higher for new, just more of your money will go into the newer car / lower mileage than a used auto via retail.

So long as the vehicle is <5 years old, retail can still yield DECENT (not competitive) rates but anything over that and it will be an unsecured loan with double-digit interest, regardless of credit score.

Found this out trying to buy a 10+ y/o vehicle with 33,000 miles on it.
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Old Today, 12:06 AM
Status: "Postatem obscuri lateris nescitis" (set 21 days ago)
 
Location: Kirkland, WA (Metro Seattle)
3,616 posts, read 2,959,317 times
Reputation: 6347
Quote:
Originally Posted by Stonepa View Post
Take a look at the details. Lexus, Audi, and Volvo have fantastic CPO warranties. Toyota - not so much. Look at what's covered and the term of coverage. I'd definitely want a warranty on any WRX I bought as these are bought new (and used for that matter) by people who drive them hard.
Porsche CPO slams it out of the park, which is why I didn't hesitate a microsecond to buy a low-miles '15 in spring of 2016 brought in from elsewhere in the U.S. Porsche and Audi are part of PAG, not surprised the latter has a great deal, too.

The dealer I work with is straight, too. We call that "mutually assured destruction," because if they **** any of us...tech nerds, Sr. to GM...word will get OUT and a million dollar's business will go elsewhere. It's a fair deal. Ferrari, Bentley, Aston Martin, and Lamborghini in town know the score, too. The BMW dealer was in the doghouse for just this reason but cleaned up their act past 20 years.

That's what happens when you're adjacent to a well-established tech major's main campus, eh?

(clipped under fair use from Autotrader dot com):

Porsche's excellent certified pre-owned (CPO) program covers its cars with a bumper-to-bumper warranty for up to 6 years and now offers unlimited mileage from the original sale date, provided that they're still under warranty at the time of purchase. For cars no longer covered by the original warranty, Porsche's plan offers 2 years of bumper-to-bumper coverage from the date of purchase. Porsche's certified pre-owned program also boasts no deductible, and it's fully transferable to future owners.
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Old Today, 08:06 AM
 
Location: Grosse Ile Michigan
25,303 posts, read 60,665,305 times
Reputation: 28031
The value of CPO depends on you.

Do you have time and patience to shop around for a private sale at a reasonable price?

Do you know how to identify or negotiate a good price if you find a nice car in a private sale?

If you do not know how to inspect/test a car, then hire a mechanic. They normally charge $100. You can pay for a lot of inspections before you hit the dealers $2000- $4000 up-charge for CPO. ''

How hard do you push your drive-train? How capable are you of doing repairs if needed?

Is the convenience and some less worry of a warranty worth $2000 - $4000 to you?

A couple of things with WRX and turbo in LA. You will rarely have the opportunity to wind the engine out to where the turbo is really useful. If you get a stick, it will be a PIA in stop and stop traffic on the freeway. I had a muscle car in Orange County for 12 years. It was kind of stupid most of the time. There is very little you can do with it. On the very rare occasions where there is no traffic, you can jet from one light to the next light very quickly. Otherwise you sit there knowing you have all that marvelous HP at hand, but you are not going to go any faster than the Kia and Honda sitting next to you in traffic. However taking it out through the desert, or up into the mountains once in a while made it worth it to me. It is something to consider though. You pay more at purchase and for insurance and maintenance and repairs. Is it worth it to you?
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Old Today, 10:40 AM
 
Location: Phoenix, AZ
1,424 posts, read 565,280 times
Reputation: 3342
Quote:
Originally Posted by Teckeeee View Post

Is it worth paying for Certified Pre Owned?

Only if it's backed by a written warranty.


Otherwise it's a scam.
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Old Today, 10:53 AM
 
Location: Raleigh
7,394 posts, read 5,489,196 times
Reputation: 10129
Quote:
Originally Posted by Quietude View Post
That's what leasing is all about and why the mileage limits have dropped, the mileage penalties have skyrocketed and things like wear and tear are judged more strictly. They want a "new" car back to resell.
Have they? I always thought they were just robbing Peter to keep the payment number really low. Didn't know about wear and tear being more strict these days. It seems its always been a risk.
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