AutoTrader: Certified pre-owned interest on the rise

5/16/2012

Interest in certified pre-owned vehicles among shoppers on AutoTrader.com rose more than 5 percent in the month of April, according to CBS News. More consumers are looking for cars backed by the manufacturer in order to avoid paying for vehicle maintenance down the line.

Used cars are cheaper than new cars, but the key drawback is most owners will have to pay for their auto repairs out of pocket, unless they get a warranty. The certified pre-owned programs run by many manufacturers are an attempt to compromise between new and used cars. These vehicles are often lightly-used and have low mileage, typically because they have just come off a three-year lease. The automaker fully inspects the car and certifies it, promising to back the vehicle with a full warranty. The dealer can then sell the car at a higher price than those that do not come with warranties.

With many drivers looking to save money on their scheduled maintenance, it appears interest in these cars is on the rise. This is a turnaround from previous trends, where drivers simply looked for the most affordable used cars due to the economic downturn.