While not everyone has the money to buy a new car, opting for the usual used-car approach has not been without threats – there are so many disaster scenarios that people knowing them all would run away in an instant.
But the auto industry has always tried to improve your fortunes (and theirs, of course) on that matter – and gave birth to the certified pre-owned vehicle programs. Back during the 2000s, around half a million Americans were using the system to buy certified used vehicles. Now, according to a study conducted by auto sales site AutoTrader.com, the figure skyrocketed to 2.1 million people in 2013 and another record is on pace for this year. Rick Wainschel, vice president of customer insights at AutoTrader.com says that “over the next few years, more than 9 million certifiable vehicles will be hitting the market” and the trend towards buying such vehicles is up with an almost double-digit growth.
Through September, sales figures show the Certified Pre-Owned, or CPO, vehicle deliveries have increased 9.9% overall, with BMW and Hyundai sitting atop with 24% jumps. Ford, Mercedes-Benz and Nissan were also climbing by more than 20% and the only ones going downstream were Honda, falling 8% and Toyota, dropping 5%.