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Smart Shopper Certified Pre-Owned Vehicles
663 messages, Last post on Dec 06, 2009 at 10:53 PM
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I think we've narrowed down our SUV choice to a Lexus 400h. I realize that there are tradeoffs, mostly the increased price and less-than-hoped for mileage from a hybrid. But, from looking at the Lexus forums, it seems like it performs much better from an MPG standpoint than any similarly sized SUV. That being said, I don't think I want to buy a new one and assuming I can find one in a color my wife likes, I'd consider buying a certified pre-owned one with low mileage (  20k mileage, give or take). I'm wondering what the downside is of buying a pre-owned vehicle (other than the fact that it has been driving in an unknown fashion for several thousand miles and has a shorter warranty). It looks like a good way to say a good amount of money. Any advice or input would be great. Thank you.
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Replying to: carquery (Jun 09, 2007 9:19 am) Before you decide on buying used, I would certainly recommend that you see what the best price available on the NEW models. When I have compared the NEW Rx350s to the used Rx350s, the price differential has not been large enough to justify buying used in MY opinion. For example, I am paying $45 out the door for a Lexus Rx350 NEW and $41 for a used one, I will buy NEW all the time ... and those are some of the numbers that I have seen. If you are spending $50k+ for a vehicle, saving $2k seems to be a false economy IMO. |
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| Does an extended warranty cover the same things as a CPO? In other words, if I buy a CPO Lexus at the dealership, would also buying an extended warranty (either thru dealer or thru Warranty Direct etc) just be duplicating coverage. Does the exclusinary warranty go above and beyond the CPO? | |
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| I was looking at the CPO MB S Class and BMW 7 with the idea that by buying or leasing a 2 year old low milage car with the big initial depreciation taken out of it, I would save a lot over a new one. Guess what? It just doesn't work out. First of all, the lease would be more than a new one. And on the purchase, it still seems cheaper to me to lease a new one when one considers all out of pocket expenses, depreciation etc at the end of the 3 year term. The only way it might make sense on the CPO is to buy it and run it until it won't run anymore (if you like to keep your cars for a long time). Then by having the less expensive car to start with (25K less in the S Class comparo-new vs used), you may end up ahead. But if you factor in repairs and maintainance, a higher interest rate vs a lease or new car buy, I'm still not so sure. It seems to me that the car companies are going to have to get creative to move all of the lease returns they have coming back and find a way to compete with there own subsidized new car programs. Unless they don't care and just want to move the new cars. | |
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Replying to: joel0622 (May 07, 2007 4:30 am)
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Replying to: rbivins (Jul 09, 2007 5:02 pm) Ok, as the judge I say that you didn't last long in the car biz and were not very succesful. That is where the crappy attitude comes from.
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Replying to: joel0622 (Jul 09, 2007 5:20 pm) There are some CPO programs that I just don't think are worth much, Lexus and Acura come to mind, but the Ford example you posted seems to make sense. Most of the euro brands have good CPO programs too. Volvo and SAAB have 7 year 100,000 mile top of the line exclusionary warranty with no deductible and 4.9 for 60 months. |
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We have a 2005 Audi Allroad that we love. Our lease is up in Dec. We've had a really good experience with this car... basically problem free. Within the past five months we did have to have the driver side suspension airbag replaced (under warranty, of course.) My dealer casually suggested to me that when we turn in the lease we buy it back as CPO. We do love this car, but given it's long term prognosis I'm hesitant to own it; i.e., be responsible for paying for repairs. Since we bought in 2005 all of our scheduled maintainance has been included. Our monthly payment is almost $600 and we would like to be able to reduce our payment. Our assumption is that by buying preowned (with favorable financing) we'll be able to do that. I mention that because I don't think a new Q7 or even A6 might be in our budget. So is turning in your lease and buying it back from the dealer a good way to go? Or does it simply benefit the dealer? thanks in advance, kzybulew
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Replying to: kzybulew (Sep 01, 2007 12:46 pm)
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Replying to: cccompson (Sep 01, 2007 6:00 pm) I called and our payoff amt. is currently $29063.78. That's the quote for Sept. Our lease ends Dec. I have no idea what the dealer CPO price is... Do i just call him and ask?
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