Used car buying
Honda expands CPO program to older vehicles
The used car market is a tough place to be right now, as new vehicle shortages have driven big demand and big price increases across the board. Finding deals is harder than ever, and many models are being sold for nearly what it'd cost to buy them new. Certified pre-owned (CPO) cars can be a good alternative to new cars, and may be worth paying the price if you're desperate. Honda is looking to sweeten the deal by extending its CPO programto older vehicles. Called HondaTrue Used and Acura Precision Used, the program should attract younger buyers and people with stricter budgets.
No. 18 - Honda Photo courtesy of American Honda Motor Co. Inc.
It's important to note that Honda isn't slapping a 100,000-mile warranty onto a ten-year old car. The updated program includes coverage for 100 days or 5,000 miles on cars up to ten years old. That's a drop in the bucket compared to Honda's and Acura's traditional CPO vehicles, which get a seven-year/100,000-mile powertrain warranty. That said, the older cars still get a 112-point inspection. Parts are replaced or repaired as necessary before the sale.
2015 Honda Civic Sedan & Coupe Photo courtesy of American Honda Motor Co., Inc
The move looks like a great one for buyers, who will get the opportunity to shop for older cars that still offer some degree of warranty coverage. Older models are less expensive but can be less reliable, so the addition of a manufacturer's backing makes buyers more comfortable and opens up more options to ease inventory shortages.