Which Manufacturers offer the Best Certified Cars?
Certified Used Cars: Old is New Again
Not too long ago, the option of buying a
used car signaled a host of negatives for
many consumers.
Warranties on second-hand vehicles were simply unheard of: You got
what you bought. So-called "lemon laws" were established in many states to offer some protection for
consumers who were priced out of the new car market, but detailed
vehicle history reports,
financing incentives and
extended road
warranties on
used cars were just not a part of the deal.
Well, things have changed for used car buyers. Today, most of the leading
auto manufacturers have
embraced the
Certified Pre-Owned (CPO) vehicle market with unbridled enthusiasm.
According to CNW Marketing Research Inc., the CPO market has become a "legitimate third automobile
category" alongside new and used, with sales for re-conditioned automobiles doubling from $506,323
in 2000 to $1,230,000 in 2003 and rising.
How Old is Old for a Used Car?
Most
auto manufacturers' CPO vehicles are five years old or less, have been
subjected to rigorous multi-point inspections, include attractive
warranties and,
in many cases, some pretty sweet perks, such as roadside assistance, return or exchange agreements,
airline miles and even magazine subscriptions. The CPO market has finally made it possible for a
broad cross section of consumers to own a near-new
luxury or
non-luxury car.
Who Leads the Pack in Used Car Certification?
With so many CPO programs to choose from, consumers are now faced with the challenge of finding out
which
automakers offer the most attractive deals on these used cars.
IntelliChoice, a San Jose-based
consumer auto research firm began ranking two dozen of the top
automakers' CPO
programs roughly six years ago and publishes a comprehensive report each fall.
Every CPO program ranked, according to James Bell, publisher of IntelliChoice, is rated on criteria
consumers identify as offering the overall best value for their money, including
warranties,
title verification certification inspections, roadside assistance, special
financing and return exchange policies.
In November of 2004, IntelliChoice ranked Jaguar as having the top overall best CPO program for the
fourth year running, primarily due to the company's 100 percent inspection rating and its two year,
50,000 mile warranty. Jaguar beat out luxury carmakers Cadillac, Volvo, Lexus, Audi and even
Mercedes-Benz, which offers one year, 50,000 mile warranty and carries only a 64 percent inspection
rate.
For the first time, in 2004 Volkswagen beat the record holder, Honda, for best overall CPO program,
according to IntelliChoice, again, primarily because of the
warranty program it
offers its customers. Compared to Honda, which offers a 12 month, 12,000 mile
warranty, Volkswagen offers a two year, 24,000 mile warranty.
IntelliChoice also has separate categories for best inspection and Land Rover and Infinity were
tied in 2004 for the top slot for the
luxury category, while the General Motors
group (Buick, Chevrolet, GMC, Oldsmobile and Pontiac) offer the best
inspection for the
non-luxury markets.
IntelliChoice's rankings are based on its own 141 point
inspection program, which,
according to Bell, manufacturers have been quick to pick up on as a prototype. Data from the
inspection reports, coupled with other CPO perks and customer feedback, said Bell,
are all used to come up with the annual rankings.
Where Can I Find a Certified Pre-Owned Vehicle (Used Car)?
To search listings of certified pre-owned vehicles for sale and to learn more about discount financing offers
for certified pre-owned vehicles or to view official CPO checklists by manufacturer, check out these sites:
