Buzz
For many people, purchasing a vehicle is one of their most significant financial commitments, so it's important to invest time and effort in securing the best possible price. If a brand-new car isn't within reach financially, but you're unsure about buying a used car, a certified pre-owned (CPO) vehicle might be the solution you’ve been considering.
CPO vehicles are sold directly by dealerships and are usually newer models with lower mileage, having passed a thorough inspection, and often come with a warranty. They typically carry a higher price tag than regular used cars. However, the good news is that with the right approach, you can negotiate for a better price on a CPO car. Here's what you need to understand.
Effective Strategies for Negotiating When Purchasing a Certified Pre-Owned Vehicle
Certified Pre-Owned (CPO) vehicles might carry a higher price tag compared to those found at used car dealerships or from private sellers, but there are ways to save money on this significant purchase. Here are a few negotiation techniques to keep in mind when purchasing a CPO car:
Research thoroughly
While it may seem like common sense, understanding the details of your purchase is essential when negotiating. At the very least, you should check the value of the vehicle using resources like Kelley Blue Book or Edmunds.
Leverage the inspection and vehicle history reports
One of the main selling points of CPO vehicles is that they’ve undergone a thorough inspection, ensuring they meet specific standards. Always ask the salesperson for the inspection report if they haven’t already handed one to you.
Don't stop there: Request to see the vehicle history report, which will reveal if the car has been involved in any accidents. If the dealership refuses or claims they don’t have it available, you can obtain a copy directly from CarFax, Bumper, or another service certified by the National Motor Vehicle Title Information System.
Thoroughly examine both reports, and if you spot any issues that might need attention soon—such as worn-out brake pads or tires—ask the dealership to handle these repairs at no extra cost as part of your agreement. Saving money isn’t always just about negotiating a lower price.
Don’t overlook the added benefits
Aside from the higher price, what distinguishes CPO vehicles from non-certified used cars is the added perks offered by the dealership, which may include a standard warranty, roadside assistance, and loaner cars while yours is being serviced. These benefits hold value, so be sure to factor them into your negotiation approach.
