Benefits of Buying Certified Pre-Owned

Want to purchase a reliable vehicle that has all the features you want at a price that fits your budget? Consider purchasing a Toyota certified pre-owned vehicle!

A Toyota certified pre-owned (CPO) vehicle has multiple advantages that make it a smart purchase for anyone looking to purchase a new-them-vehicle. Here’s what you need to know about Toyota CPO vehicles, including the benefits associated with these automobiles.

What is a Toyota Certified Pre-Owned Vehicle?

A certified pre-owned vehicle is a used vehicle that’s passed a vigorous inspection process. In other    words, it’s not your average used car. To qualify as a certified pre-owned vehicle, a Toyota car must pass a 160-point quality inspection and any repairs completed on the car must be completed according to Toyota’s specifications by Toyota factory-trained technicians.

CPO vehicles are typically sold by Toyota dealerships and come with a solid warranty to provide buyers with additional peace of mind. These vehicles are typically only a few years old, in good condition, have low mileage, and are accident free.

Since certified pre-owned vehicles must pass such a rigorous inspection process, they’re usually a little more expensive than other used cars, but they’re still a fantastic option for anyone seeking an affordable, reliable vehicle.

What is the Benefit of Buying a Certified Pre-Owned Vehicle?

There are numerous advantages associated with purchasing a Toyota certified pre-owned vehicle that make them a wise alternative.

A Toyota CPO Vehicle Has Warranty Protection

 One caveat typically associated with purchasing a used vehicle is that it might be difficult or expensive to purchase a warranty for the vehicle. Fortunately, with a Toyota CPO vehicle, acquiring a warranty isn’t an issue. Many CPO programs extend the basic vehicle warranty to ensure that their  warranty programs are competitive with those offered for new cars and to demonstrate that their vehicle is reliable.

Toyota Certified vehicles come with a 12-month, 12,000-mile Limited Comprehensive Warranty and a 7-year/100,000-mile Limited Powertrain Warranty. Your warranty is accepted at more than 1,400 Toyota dealers in the US and Canada for your convenience.

You can drive your certified pre-owned vehicle for years with the comforting knowledge that you’re protected by a warranty. A Toyota certified pre-owned vehicle warranty also covers genuine manufacturer parts for your vehicle.

Toyota Certified Pre-Owned Vehicles Qualify for Low-Interest Financing

If you’re financing the purchase of your new-to-you vehicle, you know that used vehicles usually don’t qualify for the same low interest rates as new vehicles. However, a CPO vehicle is in a different class than other used vehicles and will typically qualify for better interest rates. This is because repairs and maintenance work on certified pre-owned vehicles are completed according to certain specifications, making them less risky for lenders to issue loans for.

Lenders know that CPO vehicles are well cared for and less risky than a used vehicle with an unclear repair and maintenance history. They’re willing to offer a lower interest rate to account for the lower risk. If you decide to apply for financing at your Toyota dealership, Toyota can even offer you low new-car financing rates. The lower your loan’s interest rate, the lower your monthly payment and the more affordable it is for your budget.

Your CPO Vehicle May Qualify for Free Maintenance and Other Perks

To ensure that Toyota CPO program vehicles can compete with new vehicles, Toyota offers the follow perks for buyers:

• 24-hour roadside assistance for 7 years or 100,000 miles

• A free CARFAX ® vehicle history report

• Convenient handling of your DMV paperwork

If you decide to sell your vehicle, your Toyota’s extended warranty coverage is transferable to another buyer for no additional cost, allowing you to boost your car’s resale value.

A Certified Pre-Owned Vehicle Offers Steller Quality at a Reasonable Price

   There’s nothing like driving away from the car dealership in a brand-new Toyota that has all the features that you’re dreaming of.  When you’re on a budget, opting for a certified pre-owned vehicle is an    excellent way to get many of the features that you’re searching for at a price that’s a better fit for your ongoing vehicle budget.

Reduced Depreciation Expenses

Usually, a new car depreciates anywhere from 20-30 percent in its first year and 15 to 18 percent from years two to six. Of course, any vehicle will  depreciate over time, but there are steps you can take to minimize the impact of depreciation on the value on your vehicle. Purchasing a CPO Toyota eliminates the need for you to take that depreciation hit and can help you acquire a lower price for your vehicle

Why Deprecation Matters

For example, assume that you’re interested in a gorgeous brand-new vehicle that costs $40,000. If depreciation reduces the value by 20 percent in the first year, it’ll be worth approximately $32,000.

Now, assume that the second year, depreciation reduces the value an additional 15 percent to $27,200. Of course, as a vehicle ages, you have to weigh the benefits of a lower price against the disadvantages of higher mileage and wear and tear from usage.

Certified pre-owned vehicles have been meticulously maintained and cared for; even if they’re a few years old, they still have a lot of miles left.

More Features for Less Money

Purchasing a gently used CPO vehicle can greatly reduce the purchase price of your vehicle while still providing you with a quality vehicle packed full of desirable features and reliability. Or, maybe you want to get the limited or platinum model of the vehicle that you’re interested in, but find that this premium configuration is too expensive for your budget. By shopping CPO vehicles, you can potentially get the trim level that you prefer without having to spend more than you planned.

CPO Toyotas Can Help You Lower Your Vehicle Expenses

In addition to reducing the cost of your vehicle’s purchase price, opting for a CPO vehicle is a terrific way to lower your ongoing vehicle expenses.

Transportation Expense Guidelines

Most financial experts recommend that you spend no more than 10 to 15 percent of your after-tax income on your transportation expenses; this includes items like your car payment, insurance premium, gasoline costs, vehicle maintenance and repair expenses, and tolls.

Lower Monthly Payment

If the monthly payment for a new vehicle puts your vehicle expenses above this recommended guideline, you may worry that your only option is to settle for a car that’s less reliable or doesn’t have the features you want.

Fortunately, purchasing a CPO vehicle is an excellent way to lower the price of your vehicle without skimping on reliability or the features that  are important to you. Remember, when you purchase a vehicle with a lower price, this is less money that you need to borrow. This means that you’ll need be able to  finance a smaller amount of money, giving you a smaller monthly payment for your certified pre-owned vehicle.

Lower Insurance Premiums

Your monthly car payment isn’t the only vehicle expense that a certified pre-owned vehicle can help you reduce. For many drivers, their insurance premium makes up a significant portion of their ongoing vehicle expenses.

One of the primary factors that affects your insurance premiums is the value of your car. Since a CPO vehicle has a lower value (and purchase price), you can save additional money each month on your insurance premiums by purchasing a certified pre-owned vehicle.

Can Forgo Gap Insurance

Thanks to the depreciation rate for new cars, it’s not uncommon for buyers to temporarily find themselves upside down on their vehicles; this means that they owe more than the vehicle is worth. This is extremely common when buyers make small down payment.

Being upside down on a vehicle isn’t an issue if you plan on keeping it, but it can pose an issue if you get into an auto accident. Your insurance company will only cover the value of your vehicle unless you pay for gap insurance.

Gap insurance will cover the difference between what you owe and the value of the vehicle, but it will increase your insurance premiums. Since the initial depreciation has already happened with a certified pre-owned vehicle, you’re less likely to find yourself upside down in your vehicle loan. This means that you’re less likely to need costly gap insurance and can further reduce your insurance premiums.

The Value of Other Perks

The perks associated with Toyota CPO vehicles, like the buyer-friendly warranty and roadside assistance program, can also help you save money on your transportation expenses.

You Have a Wider Selection of Options When Shopping Certified Pre-Owned Vehicles

When you only shop for new vehicles, you’re limiting your vehicle options to the vehicles that are produced during the current production year. By expanding your search to include CPO vehicles, you’ll include a larger variety of vehicles that can potentially fit your needs. Depending on what features you’re searching for and what you need in a vehicle, it may be difficult to find what you’re looking for in a new vehicle. This is especially true if you’re searching for a specific combination of features.

For example, if you prefer a certain vehicle style and color but also need  a certain amount of cargo space to accommodate pets or children, it might take time to locate a vehicle that will work for you. By including CPO vehicles, you’ll have access to a larger number of potential options and can narrow down your search based on your ideal features or specifications.

Buying a CPO Toyota allows you to get a fantastic vehicle with your selected features that’s still in its production cycle. Many vehicle manufacturers keep vehicles in production for five to six year. Purchasing a vehicle that’s a few years old means that it won’t be replaced  by an all-new version right after you purchase it.

A CPO Vehicle Can Lessen Your Environmental Footprint

By purchasing a used CPO vehicle, you’re reusing a high-quality vehicle that still has a lot of life left in it. This helps you lower the impact of your new-to-you vehicle on the environment. It takes multiple natural resources to produce a new vehicle; if more people opted to purchase used vehicles, this could potentially lower the number of resources required to satisfy overall vehicle demand. When you make the decision to keep a used car on the road, you’re keeping it and its non-recyclable components out of the landfill.

Why Buy a Certified Pre-Owned Toyota from Lone Star Toyota of Lewisville?

Ready to begin searching for a durable, reliable certified pre-owned Toyota vehicle that has all the features you’re looking for? Start your search at Lone Star Toyota of Lewisville. Lone Star Toyota of Lewisville has a long-standing reputation as a reliable place to purchase your vehicle from.

We have trustworthy sales reps who strive to serve customers to the best of their abilities. Our goal is to provide customers with accurate, reliable information that helps them select a dependable vehicle that’s right for their unique needs, budget, and lifestyle. Our employees understand that each customer values different things when shopping for a vehicle. Whether you place a premium on luxury, affordability, or style, we’re here to help you find a vehicle that you’ll love.

Start Looking for Your Certified Pre-Owned Vehicle

A certified pre-owned Toyota is a terrific alternative for buyers who want a vehicle that combines reliability with affordability.

There are multiple benefits associated with CPO vehicles, including:

• Lower initial and ongoing vehicle costs

• A wider selection of vehicles to choose from

• A warranty to protect your purchase

In short, buying a certified pre-owned vehicle is an effective solution to  stretch your car buying budget without having to sacrifice reliability or the features that you value. Lone Star Toyota of Lewisville is an excellent place to begin your vehicle shopping thanks to our stellar record of providing our customers with award-winning customer service. We also have an onsite financing department to ensure our customers have access to a variety of loan programs at affordable interest rates. Call us at 469-491-1219 or contact us online .