Certified Pre-Owned (CPO) vehicles continue to increase in popularity as consumers look for used vehicles with new-car warranty and service benefits.
Edmunds.com, an automotive-information Web site, releases a list of the least-expensive one- and three-year-old fuel-efficient compact CPO vehicles. The Chevrolet Aveo and Chevy Cavalier take the respective honors.
In the one-year category, the Aveo is followed by the Hyundai Accent, Kia Rio, Toyota Yaris and Chrysler PT Cruiser.
In the three-year-category, the Cavalier is followed by the Pontiac Sunfire, the Aveo, Rio and Chrysler Neon.
“The uncertain economic environment has created a climate well-suited to CPO vehicles,” says Joe Spina, Edmunds' senior manager-remarketing. “CPO vehicles give consumers the opportunity to spend less than the cost of a new vehicle and still enjoy the benefits of a factory-backed warranty.”
But he adds that a late-model CPO vehicle could be priced close to a new vehicle. And new vehicles typically have better financing terms available and higher incentives, which could make them better values in the long run.