Certified Pre-Owned

Autotrader highlights this summer's latest top CPO deals

ATLANTA - 

Along with the heat, July has brought with it plenty of attractive CPO vehicle incentive offerings that summer car shoppers can take advantage of through the end of the month.

Autotrader has released its latest list of top CPO deals that used-car buyers can check out in July.

This month’s list includes Nissan's CPO program, which has a few attractive incentives this month.

In addition to offering 3.99-percent interest for up to 36 months or 4.69 percent for up to 72 months, with their used-vehicle purchase.

“The mid-year point is always a great time for car shoppers to consider what they need and want from their next vehicle, more CPO vehicles are entering the market,” Autotrader executive editor Brian Moody said in a news release. “Buying a CPO vehicle gives car shoppers that new-car feel at a lower price, with benefits from a rigorous inspection process and additional warranty offers.”

GMC

This month, GMC touts 1.9-percent interest for up to 36 months to qualified shoppers for CPO versions of its Acadia and Terrain crossover models.

Hyundai

Through July, the Hyundai CPO program offers qualified shoppers 1.9-percent interest for up to 36 months.

Mercedes-Benz

At Mercedes-Benz, along with one year of warranty protection with no mileage limit, qualified buyers interested in CPO CLA, C-Class, E-Class and S-Class models can get 1.99-percent interest for up to 48 months.

Lexus

At Lexus's CPO program, through the end of the month, the automaker is offering qualified buyers warranty coverage of six years with no mileage limit. And Lexus shoppers interested in CPO versions of the RX and RX L models can get 3.9-percent interest for up to 60 months

Toyota

Toyota's CPO program touts an added year of comprehensive coverage on top of its factory warranty, as well as six years or 100,000 miles of powertrain protection. And qualified CPO shoppers interested in a CPO Camry or Camry Hybrid can also get 1.9-percent interest for up to 36 months.

Volkswagen

Volkswagen’s CPO program offers qualified CPO shoppers 2.49-percent interest for up to 60 months on all CPO VW models.

Volvo

Along with seven years or 100,000 miles of coverage from the original sale date, qualified Volvo shoppers can take home a 2015 S60 with zero-percent interest for up to 24 months.



Kia CPO has record June, first half

IRVINE, Calif. - 

Spurred in part by sales of its Sportage and Forte models, the Kia Motors America certified pre-owned vehicle program has completed its best first half ever.

Kia dealers sold 39,954 CPO vehicles in the opening six months of 2018, the automaker said in a news release.  That’s up 0.4 percent from the same period in 2017.

Particularly hearty were sales of the aforementioned Sportage and Forte, which climbed double-digit percentages.

June was also especially strong. Certified sales for Kia climbed 13.2 percent year-over-year, as dealers moved 7,255 CPO units.

This was also a record.

“Strong sales gains for Sportage and Forte reflect the broad scope and mass appeal of Kia's world-class model lineup and our CPO program,” said Bill Peffer, vice president of sales operations at Kia Motors America, in a news release.  “The program continues to attract new customers to the Kia brand and positively shape perception.”

In the same news release, Kelley Blue Book and Autotrader executive publisher Karl Brauer added: “Kia’s CPO Program is among the best in the industry, offering coverage terms and benefits that resonate with value-oriented shoppers.

“Now roll in the advanced features and appealing style found across the Kia model line and you've got a recipe for sales growth and customer satisfaction,” he said.

Honda breaks CPO sales record set almost 5 years ago

CARY, N.C.  - 

Last month, Honda broke a certified pre-owned sales record that had stood for almost five years.

There were 26,192 Honda CPO units sold in May, the strongest ever for the brand’s certified program.

The previous record was set in August 2013, when Honda sold 25,139 CPO vehicles, the automaker said in a news release.

Honda moved 23,257 certified vehicles in May of last year, according to data provided by Autodata Corp. in 2017.

Through five months of 2018, Honda has sold 107,920 CPO vehicles.

In the same period of 2017, it moved 107,532 vehicles.

The automaker credits its gains in CPO sales this year in part to a revamped Honda CPO website and said that its dealers saw more traffic in May thanks to offers on the Odyssey, CR-V and Pilot models, which helped drive record certified sales.  

"We're excited to see a more customer-friendly Honda certified pre-owned vehicle program contribute to the success of Honda dealers," said Dan Rodriguez, American Honda Motor's manager of auto remarketing and certified pre-owned, in a news release.  "We will continue our momentum this summer with our Certified Dream Deal event, and special deals on the certified pre-owned Accord and Odyssey."

The Certified Dream Deal event includes 1.49-percent APR financing for up to 36 months on the CPO Accord and Odyssey models.

Industry-wide numbers climb

The overall CPO market was up 5 percent year-over-year in May, Cox Automotive said in an Industry Update released Thursday.

In the first four months of 2018, year-to-date certified pre-owned car sales had climbed 2 percent, even though there was a 5.7-percent year-over-year decline in April’s sales, Cox Automotive said in last month’s Update.

In the first quarter, industry-wide CPO sales reached 674,297 units, up from 647,388 units a year ago, according to the latest Used Car Report from Edmunds.

First-quarter CPO sales have climbed each year since at least 2013, which was the first year included in this particular Edmunds data set.

Autotrader names June's top CPO deals

ATLANTA - 

As car shoppers take in all that summer has to offer, automakers' latest certified pre-owned programs provide both attractive and competitive deals people can take advantage of this June.

Autotrader has come out with its latest list of top CPO deals that shoppers can cash in on all month long.

This month’s list includes Jaguar's CPO program, which is now offering qualified CPO shoppers who are interested in the  0.9-percent interest for up to 24 months, 1.9-percent for up to 60 months or 2.9-percent for 72 months.

“Automakers continue to make it more attractive and affordable for car shoppers to purchase a certified pre-owned vehicle,” Autotrader executive editor Brian Moody said in a news release. “It isn't just the warranty that makes CPO programs so good; they also tend to offer additional perks and benefits that you can't get with a typical used car, like free maintenance and other service benefits.”

BMW

This June, BMW’s CPO program is offering qualified shoppers 0.9-percent interest for up to 24 months on all 2014 and 2015 CPO BMW models, as well as one extra year of warranty coverage added to the brand’s standard new-car factory warranty.

Buick

Through the end of June, Buick qualified buyers can get 1.9-percent interest to for up to 36 months on CPO Encore and Enclave crossover models. Additionally, the brand is also offering Buick shoppers six years or 100,000 miles of powertrain protection from the original sale date, as well as an extra year of comprehensive coverage.

Cadillac

Along with six years or 100,000 miles of comprehensive coverage from the original sale date, Cadillac is offering qualified CPO buyers 2.9-percent interest for up to 60 months on CPO versions of its SRX crossover, Escalade SUV and ATS sedan models.

Chevrolet

At Chevrolet, along with six years or 100,000 miles of powertrain coverage from the original sale date, this month qualified shoppers can also get an added year of comprehensive coverage to go along with the original factory warranty. Meanwhile, shoppers interested in CPO versions of Cruze and Malibu sedans, as well as Equinox and Traverse crossovers, can get 1.9-percent interest for up to 36 months.

Jaguar

In addition to offering Jaguar XF sedan shoppers 0.9-percent interest for up to 24 months, 1.9-percent for up to 60 months or 2.9-percent for 72 months, Jaguar shoppers can also get seven years or 100,000 miles of comprehensive coverage from the original sale date this month.

Land Rover

Along with seven years or 100,000 miles of comprehensive coverage from the original sale date, this month, Land Rover is offering qualified buyers CPO versions of its Discovery Sport model with interest rates ranging from 0.9 percent for 24 months, 1.9 percent for 60 months or 2.9 percent for up to 72 months.

Mazda

This June, Mazda is offering qualified shoppers 0.9-percent interest for up to 36 months on every CPO purchase, seven years or 100,000 miles of powertrain coverage from the original sale date, combined with an additional year of comprehensive coverage.

Subaru

In addition to seven years or 100,000 miles of powertrain coverage from the original sale date. Through the end of June, Subaru's CPO program is offering qualified shoppers interest rates as low as 1.49 percent for up to 36 months.

Cars.com analyst talks difference between used, new, CPO buyers

CARY, N.C. - 

Compared to a new vehicle, a certified pre-owned vehicle purchase can be a more attractive and affordable alternative for consumers interested in driving both mass-market and luxury vehicles.

All month long, Cars.com has voiced strong consumer demand for CPO vehicles, noting that dealers have an opportunity to attract more of these buyers, as part of the site's second annual Cars.com CPO Month.

Dealers who certify anywhere from 75 percent to 100 percent of their inventory note that consumers either always or often ask about CPO vehicle options, according to Cars.com.

In an emailed Q&A with AuSM, Cars.com senior research and insights analyst Michael Solheim, explained what CPO shoppers desire most, as well as how they differ from both new and used-car shoppers.

What shoppers value most

The extended warranty, as well as the peace of mind that comes with it, are the most influential CPO attributes that appeal to car shoppers who consider a CPO vehicle, Solheim explained.

“In fact, 59 percent of shoppers rank this as either the No.1 or No. 2 most important aspect of certified pre-owned programs,” said Solheim, citing a recent Cars.com study on CPO shoppers.

Additionally, Solheim explained that when it comes to a CPO buyer's next car purchase, some car shoppers will want to find another CPO, while others will often desire a new vehicle.

There’s no solid rule here since the reasons for buying CPO differ,” he said. “For some shoppers, they’ve been burned in the past by an unreliable used vehicle, and they see certified pre-owned to be a way to avoid the risk. In these cases, they will often re-buy another CPO — especially if they have a good experience with the first CPO vehicle.”

Solheim holds that CPO shoppers interested in luxury vehicles can get to experience a vehicle that might be unattainable for them new.

“CPO is a means to buy a luxury brand that would otherwise be out of reach. In those cases, as their buyer power increases, they will move up to a brand new vehicle for their next purchase," Solheim said. 

More time for the car-buying journey, cross-shopping

Using metrics from its site, Cars.com found that CPO shoppers typically spend more time purchasing than used-car buyers, but not quite as long as new-car buyers.

CPO shoppers take approximately 47.34 days to purchase a car, compared to 46.86 days for used-car shoppers and 48.5 days for new-car shoppers, according to Cars.com latest Consumer Metrics report, which took a look at the journey of car shoppers from January to April this year.

The report also found that both are more likely to be motivated to make a purchase after doing research online.

Cars.com data suggests that because CPO shoppers research their car purchases longer than used-car shoppers, CPO shoppers are often well-informed and prepared to make a selection within the next month or the next week.

After researching online, about half of CPO shoppers are ready to buy a vehicle either within the next month or the next week, compared to just 31 percent of used-car shoppers and 41 percent of new-car shoppers.

Shoppers of certified pre-owned vehicles particularly enjoy cross-shopping across categories, according to a Cars.com segmentation survey deployed in the fall of last year.

The survey found that a sizable 80 percent of all CPO shoppers compare CPOs to new cars and used cars during their research.

A total 40 percent of CPO shoppers compare CPO models against used cars, in contrast to just 29 percent of CPO shoppers who compare CPOs against new cars and other CPO vehicles.

Meanwhile, among the same CPO shoppers, 20 percent compare CPOs against other CPOs, and 12 percent compare CPOs against new cars.

When conveying to a shopper the benefits of a CPO purchase, Solheim added that dealers can avoid marginalizing non-CPO used vehicles by promoting the reputation of a given manufacturer’s CPO program, in conjunction with defending the dealerships’ used inventory.

“The dealer needs to be communicating the fact that the manufacturer has re-applied their name and backing to the vehicle. The vehicle has undergone a very thorough inspection, and they feel confident that the vehicle is basically as good as new," he said.  “A used vehicle may have something like halfway worn tires — now that doesn’t mean it’s not a great used car, but it may very well mean it’s not qualified for certification.”

Luxury shoppers increasingly shop used, CPO vehicles

SAN FRANCISCO - 

While recent research data concerning luxury shopper behavior shows that almost 40 percent of luxury owners are less likely to purchase a used car than mass-market owners, a growing number of shoppers in this audience are increasingly cross-shopping used and certified pre-owned vehicles.

Amid the rise of off-lease vehicles which continue to enhance the used-car population, CPOs have become a progressively more attractive option for car buyers, according to data from Jumpstart Automotive Media 's eighth annual Insights Book.

Luxury owners who research and consider non-luxury vehicles grew from 10 percent in 2016 to 13 percent last year. A growing number of luxury owners cross-shopping used options illustrates a widening appeal for used cars among luxury owners.

“Luxury shoppers, in particular, are placing increased focus on brand experience and innovation when shopping for their next vehicle,” Jumpstart’s marketing and strategic insights vice president Libby Murad-Patel said in a news release.

“That being said, we’re seeing a healthy amount of cross-shopping between luxury brands, as well as luxury shoppers looking at CPO or used vehicles ( 36-percent in 2017) and at the same time loyalty is a challenge for all automakers.”

When communicating with car buyers, automotive marketers can highlight a CPO vehicle’s unique values to address the challenge, she went on to explain.

“This presents a great opportunity for marketers in placing greater emphasis on a vehicle’s unique values while addressing quality, longevity, versatility and maintenance concerns up front,” Murad-Patel said.

Elsewhere in the study, Jumpstart data focused on luxury shopper behavior alone, suggests that dealers can obtain a better return on a luxury purchase considering their owners are more likely to come back.

Because most luxury-vehicle owners have their cars serviced at the dealership, selling to more luxury buyers can potentially lead to added service department traffic. According to Jumpstart, three out of four of luxury owners use the dealership for service and 34 percent of all shoppers are researching luxury vehicles on its sites.

Autotrader announces this year's 'Best' CPO programs

ATLANTA - 

During a time when it can be hard for consumers to easily narrow down what certified pre-owned vehicle programs to shop, Autotrader has come out with a list of top programs for shoppers to consider this year.

Autotrader announced that it has come out with its list of the top luxury and non-luxury CPO programs for 2018 on Tuesday.

The company explained that some CPO programs are consistently more attractive than their competitors. After taking a look at several factors like transferability to future vehicle owners, powertrain warranty length, available inventory and bumper-to-bumper warranty coverage — Autotrader has named Hyundai and Lexus the top non-luxury and luxury CPO programs of the year.  

“Beyond being budget-friendly, buying a certified vehicle provides an extra level of comfort, knowing your car has been through a rigorous inspection and is backed by the manufacturer for an extended length of time. Autotrader executive editor Brian Moody said in a news release, “Sometimes, that warranty is longer than you get with a new car and is certainly better than with a non-certified used car.”

“If you’re shopping for a mainstream vehicle, look at Hyundai, it has one of the best warranties in the entire automotive industry, while Lexus is the top pick on the luxury side with perks like an unlimited mileage warranty and pricing that is perfect for real luxury on a budget,” Moody continued.

The following is a list of Autotrader’s 10 best non-luxury and luxury CPO Programs for 2018:

  • Non-luxury Overall Winner: Hyundai

Chevrolet

Ford

GMC

Honda

Kia

Mazda

Nissan

Subaru

Toyota

  • Luxury Overall Winner: Lexus

Acura

Audi

Cadillac

Infiniti

Jaguar

Land Rover

Lincoln

Porsche

Volvo

Click , for additional information about each brand.

Kia announces record-setting month for CPO sales

IRVINE, Calif. - 

Kia Motors America boasts reaching a record number of certified pre-owned sales last month.   

The brand announced Monday that it achieved its best-ever monthly sales number in March — a total of 7,698 CPO vehicles.

"Kia's certified pre-owned program proves to be popular with consumers looking for world-class vehicles," Kia Motors America vice president of sales operations Bill Peffer said in a news release. "The recent expansion of the Quality Assurance inspection, incorporating an additional 14 points of review, provides consumers added confidence when buying pre-owned and strengthens the value Kia vehicles provide."

Additionally, Kia said demand for CPO versions of the Forte model helped boost CPO program sales in March.

"Kia's popular Forte sedan helped drive the brand's sales with a 20.2-percent increase," the automaker explained.

Compared to the same period last year, Kia saw an increase of 2.5-percent in overall CPO sales last month.

"Kia's CPO program will benefit from the supply of off-lease vehicles that span the entire vehicle line-up," Edmunds senior manager of industry analysis Ivan Drury explained in the news release. "This is advantageous as consumers shopping CPO Kia inventory should be able to find anything from a compact car to a midsize SUV with relative ease."

Autotrader highlights April's top CPO deals

ATLANTA - 

Car shoppers looking to update their current rides with the arrival of the spring season can take advantage of serval attractive offers and incentives for certified pre-owned vehicles this month.

Autotrader has come out with its latest list of top deals available for shoppers to seize both this month and beyond.

This month’s list features a special offer from Cadillac. Shoppers interested in CPO versions of both the can get 2.9 percent interest for up to 60 months, not only this month, but also through the end of May.

“Because in-car technology is evolving so quickly and the price of new cars continues to climb, one way that shoppers can get new-car features at a used-car price is with certified pre-owned,” Autotrader executive editor Brian Moody said in a news release.

Autotrader editors' top picks for certified pre-owned deals for April include:

BMW 

This month, the automaker offers shoppers one-year and unlimited miles of additional coverage, beyond the 4-year or 50,000-mile factory warranty period, along with 0.9 percent interest for up to 24 months.

Cadillac

Through the end of May, Cadillac is offering qualified shoppers 2.9 percent interest for up to 60 months on CPO versions of both the ATS and the Escalade, as well as comprehensive coverage for six years or 100,000 miles from the original sale date.

Jaguar 

Along with seven years or 100,000 miles of comprehensive coverage from the original sale date, this month, Jaguar is offering 0.9-percent interest for up to 60 months to shoppers looking to finance a 2015 XF or a 2016 and 2017 XJ model. Meanwhile, for most other models, the brand is offering 1.9-percent interest for up to 36 months and 2.9 percent for 60 months.

Land Rover

Like Jaguar, Land Rover is offering seven years or 100,000 miles of comprehensive coverage from the original sale date, this April. And shoppers interested in the 2015 Discovery Sport, LR4 or Evoque can get 0.9-percent interest for up to 60 months. Additionally, this month, the brand is also offering 1.9-percent and 2.9-percent interest for up to 60 months on several other models.

Lincoln 

In addition to six years or 100,000 miles of comprehensive coverage from the original sale date, this month, qualified shoppers can get 2.9-percent interest for up to 66 months, through the end of June.

Mazda

This April, qualified Mazda shoppers can get 0.9-percent interest for up to 36 months on CPO purchases. The brand also offers one year of comprehensive coverage with the factory warranty, along with seven years or 100,000 miles of powertrain coverage.

Mercedes-Benz

Along with one additional year of bumper-to-bumper coverage at the conclusion of the factory warranty, though the end of the month, CPO buyers can take advantage of 1.99-percent interest for up to 48 months when purchasing most available CPO models.

Toyota

Toyota now offers qualified buyers one year of comprehensive coverage and up to seven years of powertrain coverage from the original sale date. And though the end of the month, qualified Toyota shoppers can also get 1.9 percent interest on all CPO Camry models for up to 36 months.

Slower CPO car sales? Not the case in March, as industry sets record

CARY, N.C.  - 

Granted, March tends to bring the year’s best certified pre-owned sales results anyway, but the CPO market was especially impressive last month, showing no signs of leveling off.  

In fact, last month had the strongest CPO sales total of all time, according to Autodata Corp., which said dealers moved 258,970 certified vehicles in March.

That’s 6.4 percent stronger year-over-year and a 22-percent hike from February.

It also beats the previous record (set in March 2016) by 6.2 percent, according to Autodata.

March’s record CPO sales closed a first quarter where the market climbed 4.2 percent year-over-year and 8 percent sequentially.  Specifically, there were 674,294 certified sales in Q1, Autodata said.

March also meant all-time sales records for nine brands.

Audi, Cadillac, FCA, Kia, Infiniti, Mazda, Mitsubishi, Nissan and Subaru each posted their best-ever month for CPO.

The Big 3 combined to move 92,385 certified vehicles in March (up 7.2 percent), with quarterly sales at 237,021 units (up 8.9 percent).

Asian brand CPO sales were up 4.8 percent in March at 123,103, while year-to-date sales have moved forward 0.6 percent to 321,984 units.

There were 43,282 certified sales by European brands in March (up 9.5 percent), with 5.1-percent growth year-to-date (115,289 sales).

                             

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