New vs. Used vs. Certified Pre-Owned Inventory
Just a few years ago, when shopping for a car, there were only two types of cars to choose from: new or used. Now, however, with cars being more reliable than ever, a third type has emerged—Certified Pre-Owned (CPO). We’ll talk about the differences in the three categories to help you decide which is the right option for you.
This is fairly straight forward. When you buy a brand new car, you are its first official owner. This means you know the car’s full history and can enjoy the full length of its factory warranty. A new car comes equipped with the latest technology and safety features.
New vehicles can often be made with the exact options and colors a driver wants. Dealership may even already have the vehicle in stock. If not, they’re often able to locate one relatively quickly. As a last resort, the dealership could order one to the driver’s exact specifications directly from the manufacturer.
New vehicles haven't been owned yet, so they don’t have any repair history, strange smells, wear and tear, or any other common items only found on used models. A clean history provides peace of mind to many drivers.
Many automakers are offering routine maintenance service for a certain amount of time or up to a specific mileage. That alone can be a huge benefit to many drivers. The various warranties, like bumper-to-bumper and powertrain coverage, also offers peace of mind on the road.
Buying a used car means the car has had at least one previous owner. It will likely have some wear and tear issues and could potentially have high mileage on the odometer. However, used cars are significantly less expensive than their brand new counterparts.
Used cars are obviously cheaper than new model nine times out of 10. The price difference between a new and used model could be enough to allow drivers to step up to the next trim level and get a nicer car altogether.
Insurance rates are tied to the value of the car and since a used car holds less value than a new model, rates are often lower. Speaking of value, since a used model has already gone through depreciation, it will be worth the same amount as when it was sitting on the lot, even after it’s been pulled into the garage.
Drivers who go in the direction of used cars also have their choice of vehicles from discontinued makes, models, and packages. That can be reason enough to buy a used car instead of a new one.
Existing as a nice middle ground between brand new and used is CPO. These cars have been thoroughly inspected, are only a few years old, and usually have fairly low mileage. In addition, CPO cars usually come with some kind of warranty.
The certification process for Toyota Certified Used Vehicles (TCUV) is very rigorous. A vehicle must pass a 160-point inspection first, looking at the interior, exterior, engine, electronics and more. It can also be no more than 6 model years old, so everything will be relatively new.
TCUVs also have the option of a warranty, much like a new vehicle would. There are many options covering different parts of the vehicle for various lengths of time. For example, a Certified Toyota can have a 12-month/12,000-mile Limited Comprehensive Warranty.
If you're looking for something newer but can't afford a brand new car, truck, SUV or van, certified might be the way to go. Learn more about the Toyota Certified program with McGee Toyota of Epping.