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Smart Shopper Certified Pre-Owned Vehicles
663 messages, Last post on Dec 06, 2009 at 10:53 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: kzybulew (Sep 01, 2007 9:42 pm) $25,000 financed over four years at 7% apr, coincidentally, works out to about $600 per month in payments. tidester, host SUVs and Smart Shopper |
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Hi. I'm interested in a used 2006 Scion XB with 11k miles being sold by an independent dealer. He told me the car is Toyota Certified. There was no way of verifying this by looking at the car--at least as far as I could tell. There was a sticker on the window that read "wells fargo certified." When I asked, he said Wells Fargo was somehow connected as the loan company to the original lease, and so they certify the car when it's returned. Sounds fishy. Is it possible that a Toyota Certified car would be sold through an independent used dealer? And, if so, how can I verify that a car is actually certified? Thanks. --Dare
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I saw BMW offers leasing on their CPOs, considering leasing is supposed to be based on the price drop of the car, a CPO lease sounds very interesting. Does anyone know how good of deals they may be? Thanks,
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Replying to: tidester (Sep 01, 2007 10:13 pm) Tidester, thanks for the 7% reality check, I'm not going to want to continue to pay $600 a month, so we can own a 7 year old Audi (with a questionable long term prognosis.) My next step is to begin test driving/pricing everything out there that would suit our needs in anticipation that buying or leasing new might work out to be financially equivalent or even beneficial. |
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Replying to: dedukes (Sep 03, 2007 5:22 pm) ***(Warning.. long post, but a lot of this is for the benefit of everyone else who reads this)*** Wells Fargo Certified means that the car was certified by Wells Fargo when sold at a dealer auction, this means certified to not have any structural damage or structural repair history and to have a sound drivetrain. Most Manheim sales let you run cars Manheim certified, I used to do this a lot, it means that before the car is run at auction, it gets a "frame check" where it's inspected for any arbitrable structural damage and it's also given a mechanical inspection. Will they flunk it for a weak air conditioner, bad power window or edgy electronic display? No. But the engine, trans, differential, axles, etc all have to be in good shape. The car can also still have had substantial paintwork or have cosmetic issues, just the frame and drivetrain are guaranteed. Now, if the car's got under 36k miles, who cares if anything's broken, this is what the Warranty is for. So it means that the car is not a previously smacked unit, which is good. Now, as to whether or not it's Toyota Certified, I can't be sure... but there's 2 things to check over here... 1) ONLY a Toyota dealer can sell a car as Toytoa certified that has not been previously certified, this is absolute fact. 2) It is possible that the vehicle was previously sold as a Toyota Certified Pre-Owned vehicle. I wasn's sure if the warranty transfers, as the Lexus CPO program does not, but according to Toyota's website it does indeed stay with the car. http://www.toyota.com/tcuv/faq.html?language=E My suggestion would be to call Toyota with the VIN and see if the car is covered under the Toyota Certified warranty, if it is, it's a nice bonus. If it is not, then an independent dealer cannot certify the car. It's also important to remember that if you are considering the purchase of a previously CPO'd car that you need to bear in mind that a freshly certified car is supposed to have gone through an inspection, many of these cars pop up on the lots of different dealers, and while they may carry the balance of the certified warranty, they may not always be in the same exact condition that a freshly cerified car will be. I used to buy LOTS of previously certified Jaguars and BMWs for the used car lot that I had in Florida, they were a great buy, we'd get 4-5 year old cars that were still under factory warranty and they hardly ever sold for more than regular prices. So the customer got some factory warranty and we were protected from unexpected repair costs... it was a lot more comforting buying that 4 1/2 year old 740iL with 65k miles that way! So yes, it's possible that this 2006 is a 2-owner car that the second owner bought as a Toyota CPO and then had reposessed, but it's not likely. |
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Replying to: casolorz (Sep 03, 2007 6:41 pm) There's still some independent banks that lease used cars, a friend of mine in Jersey at a Jag dealer is doing a huge business in leasing 2-3 year old Jags, so in some cases it still works. Basically.. new S-Type V6 or 2004/5 Vanden Plas.. similar payment. BMW's CPO support depends GREATLY on the model.. last I checked they had good support on the 7s and 5s.. nothing as usual on M cars. |
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Even being in the business the number of autos sold in the US on a daily basis just blows me away. You always see the new numbers but never really the used. These numbers are for CPO sales only in the US July 2007 143,555 First 7 months of the year 1,005,152 GM 315,88822 FMC 115,573 Honda 148,675 Chrysler 105,119 Toyota 189,490 Suzuki 23 Mazda 3138 Nissan 34,563 The Nissan number surprises me, I thought it would be higher, so does the Mazda number. Porsche sold more CPO cars then Mazda did with 3845. I am also surprised that Toyota's numbers are not hirer due to the fact that there prerequisites are less. According to the article I am reading they can certify a car that is 7 years old and has up to 85,000 miles. |
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I am picking up a CPO truck tonight that I purchased the other day. When we agreed to the deal I noted that the rear tires were rather worn and should have been replaced under the CPO process (the front tired looked new). The wording from Mfr's site says 'Tread depth is 4/32" above the wear indicator' Now, in my understanding, the wear indicators are at 2/32", so the tread depth should then be no less than 6/32 of and inch, right?. These tires do not look like they are at 6/32 (4/32 + 2/32). I will double check tonight. I had orginally planned on purchasing another truck they had, I called and set up an appointment to see it, but due to not putting a cc deposit on it (a detail missed by both me and the salesman), it literally got sold when I was on my way to the dealership. In fact, when I called in the morning, the saleman told me they were getting ready to ship it out to auction. He called me back the following day and said they had gotten in a similar CPO truck from their other store and I could get a comparable deal ont hat one. The truck I did buy has a bit more miles, but a better color than the first one. However, the first one had 4 new tires! Also, I have pre-approved financing through my credit union, but have told the dealership I would finance through them if they'll meet the rate. when I spoke with finance yesterday I reiterated that I felt the rear tires were too worn for CPO status. He said he would have them check it when the truck was being prepped. If nothing has been done, should I force the issue with the tires since it is a CPO and should adhear to the requirements? Also, if I want to be picky, the CPO states it will come with all manuals as well. When I test drove it, the glove compartment was empty. Finally, when I tested the truck it stunk from the carpet cleaning solution used on it. It actually made my wife ill. They said they would get rid of the smell and noted it on the cleanup order. Thanks ps the last used car we bought was a CPO as well. When I got it it had 4 new tires, new pads and rotors and the 40K service done. 5+ years and 70k+ miles is still going strong.
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Replying to: peetert (Oct 18, 2007 6:54 am) |
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Replying to: peetert (Oct 18, 2007 6:54 am) Also, if I want to be picky, the CPO states it will come with all manuals as well. When I test drove it, the glove compartment was empty. Yes, get what the CPO program states. If it is a Ford then there CPO program also states you get, Floor Mats, New Windshield WIper Blades, a full tank of gas, and two keys with remotes if equipped. Whip into a garage on your test drive and have them slipe a tread depth indicator on it.
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