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Certified Pre-Owned Car Premiums
One of the first and most important questions car shoppers find themselves having to answer is whether to buy new or used. There are clear benefits to either strategy, but it's important not to forget that there is another option: Certified Pre-Owned.
While CPO programs differ between manufacturers, the gist is pretty much always the same. Cars go through a set of checks to make sure they are in good condition, then some sort of warranty is attached and an asking price is set.
CPO cars generally have lower miles than other used cars, and since they have at least some sort of backing from their respective makers, they can offer a little peace of mind for those looking to save a bit of cash instead of buying brand-new.
Naturally, CPO programs vary greatly between automakers, with some offering much longer warranty periods than others. Prices, too, run the gamut. The crew from iSeeCars.com analyzed various CPO programs, and found that the average premium of a certified used car versus a non-certified car is $722 in 2015. Interestingly, there are nine brands that offer certified programs with an average premium of less than $500.
Scroll through our gallery to see which CPO programs have the lowest premiums.
- Image Credit: Associated Press
Number 9: Buick
According to iSeeCars.com, Buick has the ninth-lowest average premiums for certified pre-owned cars.
Average CPO Premium: $447
Average CPO Premium Percentage: 2.2%
- Image Credit: Associated Press
Number 8: Chevy
According to iSeeCars.com, Chevy has the eighth-lowest average premiums for certified pre-owned cars.
Average CPO Premium: $430
Average CPO Premium Percentage: 2.1%
- Image Credit: Associated Press
Number 7: Chrysler
According to iSeeCars.com, Chrysler has the seventh-lowest average premiums for certified pre-owned cars.
Average CPO Premium: $426
Average CPO Premium Percentage: 2.8%
- Image Credit: Associated Press
Number 6: Mazda
According to iSeeCars.com, Mazda has the sixth-lowest average premiums for certified pre-owned cars.
Average CPO Premium: $403
Average CPO Premium Percentage: 2.3%
- Image Credit: Associated Press
Number 5: Honda
According to iSeeCars.com, Honda has the fifth-lowest average premiums for certified pre-owned cars.
Average CPO Premium: $380
Average CPO Premium Percentage: 2.1%
- Image Credit: Associated Press
Number 4: Subaru
According to iSeeCars.com, Subaru has the fourth-lowest average premiums for certified pre-owned cars.
Average CPO Premium: $378
Average CPO Premium Percentage: 1.9%
- Image Credit: Associated Press
Number 3: Ram
According to iSeeCars.com, Ram has the fourth-lowest average premiums for certified pre-owned cars. Interestingly, though, Ram's CPO premium percentage is lower than all others.
Average CPO Premium: $354
Average CPO Premium Percentage: 1.2%
- Image Credit: Associated Press
Number 2: Dodge
According to iSeeCars.com, Dodge has the second-lowest average premiums for certified pre-owned cars.
Average CPO Premium: $346
Average CPO Premium Percentage: 1.7%
