If you don’t want to spend big money on a new car — but you’re concerned about the potential repair bills often associated with used vehicles — a certified pre-owned vehicle might be the right choice for you. That’s because CPO vehicles are often lightly used, boasting a discount from the new price, just like a traditional used car — and yet they also include a long, manufacturer-backed warranty for peace of mind, just like a new car. Better yet, many automakers offer CPO deals and incentives — and we’ve listed a few of the top offers available in May on some of our favorite vehicles and certified pre-owned programs.
Ford’s certified pre-owned program offers good coverage, with powertrain coverage for up to 7 years/100,000 miles from the original sale date and bumper-to-bumper coverage for an additional year beyond the initial warranty. This month, Ford’s CPO program is additionally enticing thanks to two strong incentives from Ford: For qualified shoppers interested in financing, Ford is offering 2.9-percent for up to 60 months on all CPO vehicles, while drivers can also get up to $750 in "conquest" cash back if they currently own a non-Ford vehicle, and they buy a CPO Ford vehicle.
Hyundai’s certified pre-owned program is one of the best, as it touts 5-year/60,000-mile bumper-to-bumper coverage, along with 10-year/100,000-mile powertrain coverage. Both of those coverage periods start when the car was first sold, but they still remain among the best in the industry. This month, Hyundai is making its CPO warranty even more irresistible with two excellent offers: For qualified shoppers interested in financing a CPO Hyundai, the brand is offering 1.9-percent interest for up to 36 months, or 2.9-percent for up to 48 months.
Lexus’s certified pre-owned program is among the very best in the business, as it offers 6 years of coverage with no mileage limit from the original sale date. That’s an impressive term, and it shows the brand stands behind its vehicles. In May, Lexus is sweetening the pot even further for the midsize RX crossover: The brand is offering the SUV with 2.9-percent interest for up to 60 months, which is an excellent deal — and doubly excellent considering that it’s coupled with the brand’s strong warranty.
The Mercedes-Benz certified pre-owned program offers one year of unlimited-mileage coverage at the end of the 4-year/50,000-mile factory warranty — though it can be extended to additional years for an extra cost. In May, the Mercedes-Benz CPO program touts some impressive incentives for qualified shoppers looking to finance a CPO vehicle. Through the end of the month, the CPO program offers 1.99-percent interest for up to 48 months on most models — the CLA, C-Class, E-Class and S-Class cars, along with most SUVs and crossovers. It’s a good deal considering the low rate and the long term.
Nissan’s certified pre-owned program touts 7-year/100,000-mile powertrain coverage from the original sale date — and while Nissan’s program doesn’t offer any additional bumper-to-bumper coverage, the brand’s excellent incentives available in May certainly make the CPO program unusually enticing. Through the end of the month, qualified shoppers can get 1.95-percent interest for up to 36 months on any certified pre-owned Nissan model, or 3.99-percent for up to 72 months — an especially enticing deal, considering the low rate and the long term.
Subaru’s certified pre-owned program offers 7-year/100,000-mile powertrain warranty coverage from the original sale date — a long term compared to most rivals. While Subaru’s coverage doesn’t add any additional bumper-to-bumper warranty protection, the brand’s cars are notoriously durable — so the powertrain warranty provides good peace of mind. This month, Subaru’s CPO warranty offers another benefit, as the brand is offering 1.49-percent interest to qualified shoppers for up to 36 months, which is an unusually good deal for a used vehicle — especially one with a manufacturer-backed warranty.
Toyota’s certified pre-owned program offers 7-year/100,000-mile powertrain protection from the original sale date, along with an additional year of bumper-to-bumper coverage. That’s an appealing program — but in May, Toyota enhances the appeal with a special financing rate on certified pre-owned RAV4 models. Through the end of the month, qualified shoppers interested in a CPO RAV4 can get 2.9-percent interest for up to 36 months — a good deal for a used vehicle.
Volkswagen’s certified pre-owned program varies based on the vehicle you choose, but it offers desirable bumper-to-bumper coverage for peace of mind — and, in May, it offers a little more. This month, Volkswagen is touting 2.49-percent interest for up to 60 months on certified pre-owned vehicles, which is a low rate for a used car — especially one with the peace of mind that comes with a manufacturer-backed warranty. But that’s not all — For May and June VW is also taking care of customers’ first payment up to $500.
What it means to you: If you’re interested in getting a lightly used vehicle at a great price — with a full manufacturer-backed warranty — our list of CPO deals is a great place to start your search.