Buying a Honda CRV EXL - 2017 CPO vs 2019 New - Is saving $2800 worth it?

MikeD56

Hi All, I am in the market for a current generation Honda CRV EXL. Done a ton of research, have a ton of quotes for both new and CPO options out there. (Just FYI, there is no difference what so ever between 2017 and 2019 versions of the CRV).

The only big question we have left (and it's one we're totally stuck on) is CPO vs New. Would appreciate hearing which way folks would lean given the two options below:

Car A: Brand new 2019 EXL - 0 Miles - Price: $28,800

Car B: 2017 EXL - 15 to 20k miles - Price: $25,990

Price diff CPO vs New: ~$2800

Lets just assume the condition of the 2017 is all but perfect. Also, i'm not going to be financing this so the APR New vs CPO does not really factor in here.

Basically, im stuck with six of one, half a dozen of the other here! I like the idea of going CPO and letting someone else eat that initial depreciation. I also don't think that 15-20k miles on a 2 year old car is bad at all. And hey, the 2017 is exactly the same as the 2019, so not loosing anything there. On the other hand, is $2800 worth avoiding the risk (albeit small) of going CPO? It's not that much of a price difference to save 2 years worth of miles (20k) and wear and tear. Also, it could be nice to skip the headache factor of buying CPO, having anxiety over inspecting every inch of the car, having to drive all through creation to different dealers to view the cars etc..

Also, in case anyone is wondering, both of those options are very good / competitive quotes based on what i've seen in my area and i'd feel like i was getting a fair / solid deal in either direction.

Really curious which of those two you would see as the best value option.

Michaell

MikeD56 said:

Hi All, I am in the market for a current generation Honda CRV EXL. Done a ton of research, have a ton of quotes for both new and CPO options out there. (Just FYI, there is no difference what so ever between 2017 and 2019 versions of the CRV).

The only big question we have left (and it's one we're totally stuck on) is CPO vs New. Would appreciate hearing which way folks would lean given the two options below:

Car A: Brand new 2019 EXL - 0 Miles - Price: $28,800

Car B: 2017 EXL - 15 to 20k miles - Price: $25,990

Price diff CPO vs New: ~$2800

Lets just assume the condition of the 2017 is all but perfect. Also, i'm not going to be financing this so the APR New vs CPO does not really factor in here.

Basically, im stuck with six of one, half a dozen of the other here! I like the idea of going CPO and letting someone else eat that initial depreciation. I also don't think that 15-20k miles on a 2 year old car is bad at all. And hey, the 2017 is exactly the same as the 2019, so not loosing anything there. On the other hand, is $2800 worth avoiding the risk (albeit small) of going CPO? It's not that much of a price difference to save 2 years worth of miles (20k) and wear and tear. Also, it could be nice to skip the headache factor of buying CPO, having anxiety over inspecting every inch of the car, having to drive all through creation to different dealers to view the cars etc..

Also, in case anyone is wondering, both of those options are very good / competitive quotes based on what i've seen in my area and i'd feel like i was getting a fair / solid deal in either direction.

Really curious which of those two you would see as the best value option.

What kind of warranty do you get with the 2017?

How long do you plan to keep the car?

MikeD56

Michaell said:

What kind of warranty do you get with the 2017?

How long do you plan to keep the car?

2017 comes with the remainder of the 3 year / 30k limited new car Honda warranty (power train and a few other non wear and tear items). Not knowing exactly when the car was first purchased, that could only leave about a year on that original warranty. CPO warranty though would kick in and add power train coverage for 7 years / 100K miles.

Well, that's a good question. I'd like to say that this will be a long term vehicle (10+ years) but my car buying history would not suggest that. I'd say with this one, at least 5 but hopefully 10+ years.

Michaell

MikeD56 said:

Michaell said:

What kind of warranty do you get with the 2017?

How long do you plan to keep the car?

2017 comes with the remainder of the 3 year / 30k limited new car Honda warranty (power train and a few other non wear and tear items). Not knowing exactly when the car was first purchased, that could only leave about a year on that original warranty. CPO warranty though would kick in and add power train coverage for 7 years / 100K miles.

Well, that's a good question. I'd like to say that this will be a long term vehicle (10+ years) but my car buying history would not suggest that. I'd say with this one, at least 5 but hopefully 10+ years.

I'd go with the CPO, IMO