Pre-owned cars are ideal for shoppers who want to save money. Many new cars lose up to 40 percent of their initial value within the first few years of ownership. Buying used or certified pre-owned models allows you to avoid this initial depreciation. While both used and CPO vehicles come with cost-saving advantages, there are also some important differences between the two like warranty coverage and inspections.
Used cars are the most affordable on the market. Not only will used cars come with a lower sticker price, but you will also save money when it comes to residual value, fees, and other costs. However, unlike CPO vehicles, used cars don’t come with a guarantee in quality. Unless you obtain a vehicle history report, you may not know if the car you’re buying has been in previous accidents or if it was regularly maintained. Used cars are ideal for first-time car buyers, as well as shoppers looking for the best overall savings.
CPO vehicles are used, but they have to meet certain conditions. Each CPO vehicle is vetted to make sure that it is less than five years old, has fewer than 60,000 miles, and doesn’t have any major issues. Every certified model goes through a rigorous 123-point inspection by a specially trained technician, and it also comes with a standard vehicle history report. Mitsubishi CPO vehicles include the same 10-year/100,000-mile warranty coverage as the original owner, with zero deductible for repairs at any Mitsubishi dealership in the US. In addition, you receive roadside assistance. CPO cars are ideal for those who want to pay less than they would on a new vehicle, but who also want an extra assurance of quality.
CPO cars aren’t better than used cars and vice versa. You can still buy a used vehicle with the same quality of a CPO, but you might have to put extra research into the car. If you have any further questions about the difference between CPO and used vehicles, stop by Tom Hodges Mitsubishi and we will be happy to answer them.