As part of its 2014 Certified Pre-Owned study, Autotrader found that familiarity with certified pre-owned (CPO) is at an all-time high, with 75% of new car shoppers and 45% of used car shoppers saying they’re familiar with CPO. And, the number of new and used shoppers considering CPO for the first time has doubled in just one year. Autotrader, which announced its logo and product offering changes recently, analyzed automaker CPO programs to see how they compare on the market.
In ranked order, Autotrader has named the best CPO programs:
- Land Rover
In addition to the top ten CPO programs, Autotrader editors selected another ten “honorable mention” programs. In alphabetical order, they include:
“Porsche’s certified pre-owned program is easily the best in the industry,” said Autotrader Site Editor Brian Moody. “Like many luxury-car certified pre-owned programs, it offers six years or 100,000 miles of bumper-to-bumper coverage for any vehicle that’s still under factory warranty. But if a used car’s factory warranty is expired, Porsche will also offer an additional two years or 50,000 miles of coverage — something no other automaker does. They also offer a long list of perks that make a CPO vehicle very compelling.”
“These programs are still above average, but are very similar in what they offer, which is why they’re unranked,” Moody explained said about the list of “honorable mention” vehicles.
To determine which programs stood above the rest, editors took into consideration these primary factors:
- Warranty length: “The longer, the better,” Moody says. “Many of the best CPO programs offer coverage up to 100,000 miles.”
- Transferable: Editors felt that warranties that are transferable to the next owner were desirable as it essentially improves that car’s resale value and speaks to the manufacturer’s confidence in the vehicle’s quality.
- Little or no deductible: The best warranty programs have no deductible for covered repairs, however editors included some programs that were otherwise compelling even if they have a small deductible (less than $100).
For more details on each of these programs, plus Autotrader’s tips on buying a CPO vehicle, visit here.