Edmunds.com teams with top automakers for CPO Month
2014 Toyota Tundra. Photo courtesy of Toyota
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SANTA MONICA, Calif. –
Edmunds.com is partnering with several top car brands to promote the benefits of certified pre-owned vehicles as part of CPO Month in May. The effort, which includes backing from title sponsors Toyota and Lexus along with Mercedes-Benz and Volvo, is happening during a time when shoppers are becoming increasingly aware of the benefits of CPOs.
“Many automakers have a ‘truck month’ or other sales events for specific segments, but CPO has been largely ignored – until now,” George Kang, senior vice president of OEM Business for Edmunds, said in a news release. “Shoppers owe it to themselves to learn more about the benefits of certified pre-owned cars.”
CPOs are generally defined as used vehicles that have undergone a minimum 100-point inspection in which any mechanical and body issues are addressed. Such vehicles generally come with a manufacturer-backed warranty and may include other benefits such as free maintenance, 24/7 roadside assistance and low-APR financing — many of which are offered in Lexus' and Toyota's CPO programs.
L/Certified by Lexus offers an unlimited-mileage warranty up to six years, a two-year/20,000 mile complimentary maintenance plan, a 161-point inspection, and 24/7 roadside assistance. Toyota CPOs come with a 12-month/12,000-mile limited comprehensive warranty, a seven year/100,000-mile limited powertrain warranty, one year of roadside assistance, a 160-point inspection and CARFAX report; additionally, certified customers are eligible for standard new-car financing rates.
According to a survey conducted late last year by Edmunds, 88 percent of used-car shoppers said that they would be willing to pay more for a CPO vehicle than a comparable, non-CPO vehicle.