CPO decisions.....Anybody have insight as to whose is worth a hoot???

[redgtxdi]

So, I'm getting close to new car time. However, after a few new cars in my lifetime, I think they're less fun now than when I was younger. As Solomon said, "There's nothing new under the sun" and no moreso than now.....especially with cars.

I could go with anything from a Prius (regular) to a Camry, Mazda6, Altima, Accord.

I even saw somebody recommend a Mitsu Outlander recently, based on price/value criteria. I'm up for getting a lot of car for the money......HOWEVER.....

If I do a CPO (and I'm willing as a compromise between new car ripoff and Craigslist regret), I'd like to go with a car co. that does it well. Like, legitimately CPO, not wash/wax & throw it out on the lot.

???

TIA

 

[evident]

our experience w/ Lexus CPO was pretty good. they seem to offer a legitimiate CPO experience. got a 07 RX350 in 2010 coming off lease and it came with a 5 year / 30k mile warranty if i can recall correctly. had to use it on dumb stuff like a trunk latch breaking and foggy headlights, and the peace of mind really made it worth it.

 

[redgtxdi]

our experience w/ Lexus CPO was pretty good. they seem to offer a legitimiate CPO experience. got a 07 RX350 in 2010 coming off lease and it came with a 5 year / 30k mile warranty if i can recall correctly. had to use it on dumb stuff like a trunk latch breaking and foggy headlights, and the peace of mind really made it worth it.

Curious if you remember how much you paid??

I bought a new Venza back in 2011 (I've got mixed feelings on it but most are not great) and since the wife loves it, I'll let her drive the wheels off it but next vehicle will be a sedan to replace the old '98 Camry (love that car) the daughter's now driving.

I honestly wouldn't mind an ES350 but I know my wiser side should probably opt for something more miserly on gas. Thus the Prius comes to mind and/or the number of good mid-sized sedans getting good mileage these days.

BUT.......just cuz Lexus has a solid CPO program doesn't mean I trust Toyota to do the same!!!

 

[evident]

Curious if you remember how much you paid??

I bought a new Venza back in 2011 (I've got mixed feelings on it but most are not great) and since the wife loves it, I'll let her drive the wheels off it but next vehicle will be a sedan to replace the old '98 Camry (love that car) the daughter's now driving.

I honestly wouldn't mind an ES350 but I know my wiser side should probably opt for something more miserly on gas. Thus the Prius comes to mind and/or the number of good mid-sized sedans getting good mileage these days.

BUT.......just cuz Lexus has a solid CPO program doesn't mean I trust Toyota to do the same!!!

i cant remember the exact numbers, but i think 2K above KBB excellent value price rings a bell in my head. that's the "cost" of a CPO vehicle.

i doubt any of the mainline dealers do a good CPO, and as far as the luxury makers go, people at that time said lexus has the best cpo in the business. not sure if things have changed

 

[MiataNC]

I used to work for Lexus back in the late '90s. Back when CPO was invented...

Buying used or CPO all comes down to the dealer integrity. Some dealers will certify cars that have no business being CPO (previous damage, etc.), and others will refuse to certify cars that just miss the requirements (usually exceeding a certain amount spent on reconditioning for re-sale).

The main advantage of CPO is the extended factory warranty, which equates to full manufacturer support after the sale. That is what you really get when you buy CPO , and you usually pay a premium over a similar non-CPO used car.

In the end you are buying a used car and you won't know the full history.

My advice would be to find a clean CPO car and only pay (or negotiate the price down to) what you would pay for a clean non-CPO car. That is what I did when I bought my 2011 Honda Fit. I got it CPO for the same price as a non-CPO with similar miles/options.

 

[Midwayman]

So whats the value of buying a CPO vs having a car inspected and just buying the factory extended warranty? Its basically the same process. Just less hassle in researching the car I suppose?

 

[MiataNC]

So whats the value of buying a CPO vs having a car inspected and just buying the factory extended warranty? Its basically the same process. Just less hassle in researching the car I suppose?

If the dealer is doing it right, the CPO car will be in noticeably better shape overall than a typical used model with the same mileage. It should look like a new car inside and out with no signs of wear (examples of wear: curb rash on wheels, worn buttons/controls, worn seat surfaces, scuffs, stains, etc.)

If you are on a dealer lot, check out the CPO cars. If you see signs of wear, then the dealer is most likely slapping CPO on anything they can, and not cherry picking the best used cars for CPO status.

 

[redgtxdi]

The idea that Lexus (maybe include BMW, Mercedes, Acura, etc.) do the CPO thing well, takes me back to when I was watching TV last night seeing a commercial showing a new Camry for 0%/60months, etc. and when I factor in that I'm not going to get an ES350, 528i, E350, etc. getting 25mpg around town, I tilt back toward the idea of a new car in the middle-crop.

Ya, I could do a CPO Camry/Accord but I'm just not sure I'd have the confidence in spending $15-$20K on a half-@ssed CPO from a lesser brand when $20-$25K could get brand-new, know what you're getting, kind of car.

(shrug)