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Comments
In most of those cases, it's a never-ending cycle - they'll never be "right side up" unless they pay the loan through to maturity.
I also know that Ford dealers add $800 for certification. Thats not much considering warranty you get (70K for Ford). Warranty for used car may be expensive.
I like new. A lot. I think the aroma is worth the 20%.
Not sensible by any stretch of the imagination, but then neither are most cars...
I too prefer new, even though economics favors used, because I don't like the unknowns of (most) used cars. Yeah, I know that CPOs have a warranty, but I want a good car, not a good warranty.
Sailor, the certification process, if done, properly can be a better guarntee of a good car than buying one new. Any new car is subject to random manufacturing defects but A CPO unit has a detailed service history and they weed out cars with high FOR or serious defects when new. That's why they can put extended warranties on them.
2001 BMW 330ci/E46, 2008 BMW 335i conv/E93
I won't go in to the conversation THAT spawned...;)
I can't help it. I like everything there is to like about new. I had my first new car in '87 and I was just plain hooked. Hooked I tell you! Like Rush on Doans...
You can buy a used CPO with 24K miles, then need to spend several hundred on the 30K mile service in just a few months. Then need to spend several hundred on a set of tires a year or less later. You may hit the mileage for 60K service which can be over $1500 on some cars before you are ready to sell it. You may also spend a few hundred more on various other wear items such as a brake job which are not covered by the extended warranty.
If the price is anywhere near the cost of a heavily-discounted new car, you are better off with the new car. Many 1 year old CPO cars are listed at prices that approach what you could get a new version of the same car.
Personally, I bought used when younger from necessity. While in school, I bought VERY used, like 10 year old junk, which in the 60's was really junk! Cars back then were made to last 2-3 years, after that, they were considered yard ornaments. My first new car, was a 76 Pinto upon graduation - then I went right back to slightly used, like 1-2 year old cars until 1990, when I bought my next new car. Bought new now, ever since.
I think I pay too much for my cars because they are new. I still think you get a better deal buying slightly used, either CPO or within the factory warranty period with an extended factory warranty. I just can't seem to do it lately....I'm like Wale, I just get too attracted to the new model coming out, and I have to have it NOW!
My BIL is an avid used lot hunter. He hasn't ever bought new in his life. I think he simply enjoys the challenge of the hunt. Not like he can't afford it!
While I'm solidly a new car fan, I've cooled on new model acquisitions, though. And not for fear of getting an untried product really, but more for letting the batch cool before sampling, and letting the real eager beavers pay the first-year premiums.
Plenty of folks around here to take care of that for you...
|-]
wait, that didn't come out right.......
well, maybe it did.......
Please anyone advise your opinion.
For example, a 2003 A4 Quattro with the 3.0 and Steptronic runs just over $40K, right? The car books at trade-in for around $27K. Hardly just a $3-4K difference.
Maybe you have a dealer problem (with pricing) and not a great look at the CPO market as a whole.
At the auctions, I saw current model year used cars all the time - many dealers will run a demo through the auction just to see what it'll do. Could be a repo. Could be a service loaner that the dealer wrote down. Hard to say.
Folks think that every dealer keeps every vehicle that is traded in, they can't financially, so they don't ... a guy comes in to trade his 03 Audi because it's too big, too small, too green, too orange, it's a one year lease, the dog doesn't like it, Or ~ maybe he did it because "he Can" ..
These are vehicles sometimes with little or no miles and showroom ready, but if the dealer has two or three of them, or his floorplan is getting bloated it's going bye bye to the auction ... when they get to the auction, the UC mgr might spot a clean low miler 01 Acura TL or a Audi and replace his $27/$28,0 with a $17,0 vehicle that will (hopefully) sell quicker in his area .. in the meantime the guy standing next to him, might buy the 03 Audi and could be selling the Camry five lanes down, and the guy that sold the TL to the guy that sold the Audi, might need a Camry and will bid on it - and on, and on, and on it goes ....
Terry.
Thanks!
Jeannine Fallon
PR Director
Edmunds.com
MODERATOR /ADMINISTRATOR
Find me at kirstie_h@edmunds.com - or send a private message by clicking on my name.
2015 Kia Soul, 2021 Subaru Forester (kirstie_h), 2024 GMC Sierra 1500 (mr. kirstie_h)
Review your vehicle
The one that I'm looking for is Audi A4 1.8T Quattro Automatic with premium package, cold pakcage, bose speaker, alloy wheel. about 10K miles. The dealer price $27,900 include warranty "The remainder of the original Audi New Car Warranty is good till February 26,2007 or 50,000 miles plus the Audi Certified Pre-Owned Warranty good till February 26,2009 or 100,000 miles on odometer whichever comes first." , which like I said I think come about 40K savings and I double checked the kelly book and gave me about that dealer price too.. So how does it go down by 17K difference like Zues is saying? I mean that's great I know there's great discount available out there but how can i negotiate with dealer?? I appreciate your comments and tips!
The vehicle you're looking at sounds like a great package deal.
It's an 03 Audi A4 1.8T Quattro Automatic with premium package, cold package, Bose speaker, alloy wheel. about 10K miles. The dealer price $27,900 and that includes the include warranty .... depending on where you live, the dealer probably paid in and around $23ish for it, so by the time they do the service, kick the warranty in, "certify" it, a this and a that, detail, pack, yatty yatty, it probably comes to the table at around $24,5/$25,0 .. eh' at $27,9 their not trying to kill anyone, you can try $26,5/$26,9 and see what that does, but don't lose it if you really like it for a few hundred over here or there, they are popular, especially with a 100k warranty ...
Good luck - and of course let me know ..
Terry.
Can I take the car to a Lexus dealer, have them check out the car, certify it, and offer an extended warranty before I purchase the car?
Any other comments on the cons from buying a used Lexus from a non-Lexus dealer would be appreciated.
Car_man
Host
Smart Shoppers / FWI Message Boards
* Get everything in writing
* Have your own trusted mechanic throughly look over the CPO vehicle
* The premium for buying a CPO vehicle is always negotiable. Some of these dealers need to wake up and quit being so greedy! The customer always has alternatives to a CPO vehicle.
* CPO vehicles are what they are - used.
* You can always shop around for a factory-backed extended warranty.
I've also heard of the horror stories of dealerships slapping a CPO stickers on every other car on their parking lot with backing up. How does one distinguish the good Honda dealerships from the bad ones? I thought using the Better Business Bureau was a start in the right direction.
I just wish Honda would create some kind of internal policing, which would discipline some of these rouge dealerships that have chronically stepped over the line!
~ D
lots come from auctions. As I'm in the market for
a used car (98-00 Camry w/V6), I'm finding that
most of these are on dealer lots. When I run
carfax on these, I notice that many were
originally sold in the Northeast, then end up
in North Carolina. Is it common for cars to
move around the country through the auctions or
do they usually stay in the same region ?
Thanks
Don
Terry
Are these auction open to the public and if so,
how do you find out about them. I don't think I'd
buy a car from an auction, but it might be interesting to see.
Don
Car_man
Host
Smart Shoppers / FWI Message Boards
I later found out the the car has at least $1000 worth of body damage that still needs fixing. The certified inspector didn't pick up on it...and the dealer says sorry, it is your car now
Its a great car (2003 EX V6), but don't trust that the dealers have done what they are supposed to when inspecting these cars. Buyer beware!
Tom (my site http://www.pointech-va.com/honda/)
I'm curious...how can a car need 1000.00 of body damage that needs fixing and you didn't see it?
With today's prices, 1000.00 in body work isn't much. It also doesn't really hurt the car if properly repaired.
I respect your opinion that $1000 isn't much for body work, but I will say again I would not have bought this car if I had been told that it had been wrecked. I was there to buy a NEW 2004 EX V6 but was sold on this car by a good salesman.
Anyway, my point in posting here is just to let people know not to be blinded by the certification like I was. Go over the car/have the car inspected just as you would for any other used car purchase.
Thanks for your reply, and Happy New Year! Tom
My main point in posting here is not to rant or vent, but merely to state the fact that people shouldn't give these certification programs as much credit as I thought they deserved. No matter who says they stand behind a car, if it is a used car it is still buyer beware. The required appearance inspections are subjective. I should have realized this and examined the car more carefully.
Thanks for your reply, and Happy New Year! Tom
Tom
Still...you are correct, you really should have caught it yourself. I would never buy a used car at night for this reason.
But, Prod is correct...it has NOT been "wrecked" in the sense of the word. When it gets redone by a quality shop it'll look like new. It isn't "damaged goods".
Heck, you could do the same thing yourself in a parking lot!
Good Luck and Happy new Year!
I can sympathize with your situation, however, and it seems a little hinky that they didn't notice it. any used car manager worth his salt should have spotted that.
I'm thinking the formula goes like this:
LABOR (a national standard mechanic's billing rate per hour X total hours serviced on the car) + PARTS (summed) = the "DOLLAR VALUE" that Honda dealers charge their customers for that extra piece of mind, LOL!!!
What do you think?
Matter of fact, Edmunds.com is the only car site that adds this premium value to the base price of a used car. However, they don't explain how the derived this value.
To be honest, I'm still "wishy washy" about Honda's whole entire certified pre-owned, 150 point inspection program to begin with. To make things worse, a lot of these certified pre-owned vehicles are almost the same price as a new one, which makes me wonder if they are really worth it to begin with! Shoot, I would rather just take a non-certified pre-owned 2003 Honda Accord to an ASE-certified, Master Mechanic and have him look it over from the front bumper to the tailpipe for any mechanical/structural "issues" before I plop any money down.
Thanks for the insight,
Darren
Terry.