Edmunds' Q2 2015 Used Vehicle Market Report finds that the average price of a used car has gone up 7.6 percent compared to 2014, to $18,800, driven by pickup trucks and cars eight years old and older.
Few people associate Tesla Motors with the classic shady dealings of a used-car lot, but the electric-vehicle maker may be moving in that direction with its Model S. The California-based company very publicly guaranteed buying back its electric sedans from any owners who wanted to get rid of them after three years of ownership. The first of those vehicles could start rolling back in as early as spring 2016, Automotive News reports, which is why Tesla is working on a certified pre-owned vehicle-s
Because of the recession that hit in late 2008, people have been holding onto their rides for longer than usual, waiting for better days before trading in old wheels for new ones. The fact that vehicles in general are more reliable than ever has only exacerbated the lack of low-mileage used cars, as owners rack up tens of thousands of trouble-free miles before finally trading them in.
Certified pre-owned programs are a great option if you're looking for a well-maintained, newer vehicle that has some kind of warranty, without paying full price. As it's a good system, there are a lot of automakers that now offer a CPO option. The newest and perhaps most surprising purveyor of gently used vehicles, though, is Koenigsegg.
Consider this week a cosmic passing of the torch. As legendary Southern California auto dealer Cal Worthington (sans his dog Spot) left this world for that great dealership in the sky, Nissan was making preparations for its all-electric Leaf to make its debut in the realm where good 'ol Cal reigned supreme: the used car lot.
In an effort to attract more car buyers to Chevrolet, Buick and GMC dealerships, General Motors will now offer two-year, 30,00-mile standard vehicle maintenance package as part of its Certified Pre-Owned Vehicle program. The no-cost maintenance program includes free oil changes whenever the Oil Life Monitor system says one is needed, tire rotations and multi-point inspections.
If you're looking to purchase a used car or truck, you may have noticed that the prices have been a bit higher than you may have expected. Maybe the salesman in the used car lot isn't willing to dicker as much as you may have expected. According to USA Today, the reason for this phenomenon is that pre-owned vehicle prices are at a 16-year high.
If you're just starting to shop for your next vehicle but not so sure that the new-car smell is a necessity, you have some great alternatives. Through the certified pre-owned programs (commonly abbreviated as simply CPO) now supported by most automakers, approved dealerships pick out the best vehicles that are traded in, thoroughly inspect them, then back them with a warranty that in some cases is
Quite a few automakers have had success with certified pre-owned used car programs, and now Mazda is jumping on board by offering a CPO plan of its own. After all, used vehicles that have passed a rigorous inspection are more attractive to potential buyers, even though certified cars commonly carry a heavier price tag than their non-inspected lot mates.
As everyone is aware, Toyota had a rough February. Stories surfaced virtually every where regarding the troubles that the company was and still is facing. From an image in tatters to a loss of confidence in the brand, many had feared the worst. Several lawsuits against Toyota were filed on behalf of owners, one aimed at recovering the loses from the anticipated diminished values of used vehicles affected by the recalls. Others predicted that Toyota's used car sales would also plummet due to reli
A couple of years back, Ferrari was widely rumored to be working on an "entry-level" model to slot in below the F430 (since replaced by the 458 Italia). The result was the California. And all the while they were working on it – with test mules lapping Fiorano like an F1 driver recovering from a head injury – company spokesmen declared that the true entry level for new Ferrari owners was a pre-owned Ferrari. Now the famed automaker from Maranello is putting its money where its mouth i
Used car-shoppers take note: Toyota has just announced a new Certified Used Hybrid Program that may add a bit more peace of mind when searching for your next vehicle. With over a million Toyota hybrids already running around the roadways, it's natural that more of them will soon end up on used lots as trade-ins. Many people have expressed concerns regarding the extra bits that go into making a hybrid work, especially for such costly items as the battery pack, electric motor(s) and controllers. A
It's not that General Motors doesn't want its dealer body to shift certified pre-owned Impalas, G6s, Silverados, or Sierras. GM rolled out a program to help make the used cars attractive by offering 60 month loans with a 3.9 percent interest rate between October 1st and January 5th, thus helping dealers close deals on higher-margin inventory. Just a month in, however, GM is folding up its incentive tent and going home, leaving dealers holding the bag on lots full of cars they'd bought in anticip
Car shoppers used to be limited to just two types of vehicles -- new and used. The former was brand spanking new straight from the manufacturer along with a warranty and that coveted new-car smell. Of course, it also came with that new-car price tag and the knowledge that the vehicle could lose up to half of its value in the first few years of ownership. The latter category was a heck of a lot che
Now that leasing seems to be going through a slow phase-out, shoppers looking for a good deal on a newish vehicle may take a harder gander at certified pre-owned models. GM realizes this and has responded by ambushing customers increasing the warranty coverage on the CPO models for all of its brands, minus Cadillac which has its own program. The new warranty stands at 12-months or 12,000 miles and begins when the CPO purchase is made -- an increase of up to nine-months over the previous guarante
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