September 15, 2006, Newsletter Issue #58: Consumer Comforts of Manufacturer-Certified Vehicles
Tip of the Week
Based on a recent market research study conducted by Consumer Reports, the results showed manufacturer-certified vehicles to outperform car dealer certified cars:
• Overall, manufacturer-backed certified pre-owned (CPO) programs featured more consumer protection and consistency than local or car dealerships CPO programs.
• The average price of manufacturer-backed certified pre-owned (CPO) programs were found to be $1,000 more in price than the average used car.
• Only 13 percent of manufacturer-certified cars carried more than 60,000 miles. Vehicles certified outside of an automaker's facility (with more than 60,000 miles) accounted for 32 percent of certified pre-owned cars.
• Less than nine percent of automobile consumers who bought manufacturer-certified cars reported serious problems, compared with 15 percent of the car owners whose vehicles were not certified at the manufacturer.
• As far as the negotiations involved in buying a used car, consumers who purchased manufacturer-certified vehicles had the ability to negotiate substantial discounts from the car dealership's asking price than those who bought other used cars.
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