How to Save Money When Negotiating to Buy a Certified Used Car
Vehicles are one of the biggest purchases that many people make, and it’s worth putting in the time and effort to get the best deal possible. If a brand new car isn’t a financially viable option, but the uncertainty of buying a used car is worrying you, you’ve probably considered buying a Certified Used Car (CPO).
Sold directly from dealerships, CPO vehicles are typically newer low mileage models that have passed inspection, have some sort of warranty, and are priced higher than other used vehicles. The good news is that it is possible to negotiate a better deal on a CPO vehicle. Here’s what you need to know.
How to negotiate when buying a certified used car
CPO vehicles may cost more than what you would buy at a used car lot or from a previous owner, but there are ways to save money on this big purchase. Here are a few negotiation strategies to consider when buying a CPO car:
Do your homework
It may seem obvious, but knowing what you’re talking about when you’re trying to negotiate is absolutely essential. At a minimum, this means finding out how much your car is worth using the Kelley Blue Book or Edmunds .
Use vehicle inspection and history reports
An often advertised benefit of CPO vehicles is that they have been supposedly rigorously inspected so you know they meet certain standards. Always ask the seller for an inspection report if they haven’t already provided you with a copy.
But don’t stop there: also ask to see the vehicle’s history report, which will tell you if the car has been in any accidents. If the dealership turns down your request – this may be more than just a wake-up call – or says they don’t have the right device, or for any other reason – you can order a copy yourself through CarFax, Bumper or another service approved by the National Information car name system .
Read both documents carefully, and if you notice something that will require service relatively soon, such as changing brake pads or tires, ask the dealer to take care of it for free as part of your deal . Saving money doesn’t always mean lower sticker prices.
Don’t Forget the Extras
Aside from the higher cost, what separates CPO vehicles from non-certified used vehicles is the added dealership services, ranging from basic warranty to roadside assistance and lenders when your vehicle is in the store. These services also have a monetary value, so be sure to include them in your negotiation strategy.