Used electric cars are seeing a huge surge in sales within the UK, as fall prices have made them more accessible and desirable to potential buyers.
Here is a guide to share both the benefits and trade-offs that impact the cost and long-term value of certified pre-owned vehicles and standard used cars.
Definition and Certification Standards
Certified pre-owned cars undergo inspections, refurbishments and a certification process that is usually carried out by the car manufacturer or an authorised dealer. To qualify, they must meet strict age and mileage requirements, often being no more than a few years old and under a certain mileage threshold. They are then re-sold with both their certification and warranty once approved.
By contrast, a standard used car is simply a pre-owned vehicle sold as-is. Buyers may also need to set aside a budget for any immediate repairs or servicing just in case.
Cost vs Peace of Mind
The most apparent difference between the two options is cost. Certified pre-owned cars typically carry a price premium. The hefty price tag reflects the costs of inspections, refurbishments and extended warranty. For buyers who aren’t as mechanically confident, the extra expenses can feel worthwhile, with the reassurance of a warranty and knowing that the car is covered after passing its checks.
Standard used cars are generally more affordable and allow great flexibility with budgets. This can allow you to be able to afford a higher- specification model or set aside extra funds for any future maintenance. The trade-off is the higher risk of unexpected repairs and no built-in safety net of a manufacturer-backed warranty.
Reliability, Inspection Quality, and Owner Satisfaction
As a buyer, you can benefit from knowing that you have a reliable vehicle when you own a certified pre-owned car, as they are associated with having a higher reliability level compared to a standard used car due to their rigorous inspection process and limited eligibility requirements.
However, it is important to note that all certification schemes are created equal. That is why it is important that car manufacturer programs are used when purchasing a vehicle, as they carry out the most credibility. Dealership schemes may also vary in quality, so it’s important to verify the details of what the certification covers. Always make sure to ask for complete documentation of the checks performed on the vehicle for assurance.
Selection, Flexibility, and Local Availability
If you decide to select a certified pre-owned car by using a manufacturer’s CPO scheme, you may find stock that restricts strict age and mileage limits, which can narrow your options. Whereas standard used cars can offer great flexibility. If your within the Norwich area and are browsing for Norwich used cars, you are likely to benefit from finding a wide variety of used cars. Due to the wide selection that a lot of local car dealerships can offer to suit a wide range of budgets.