For 25 years, MotorTrend's partners at IntelliChoice have analyzed each manufacturer's certified pre-owned program and ranked them. By adding in ownership costs for the three most recent used model years, IntelliChoice determines its annual CPO Awards—recognizing the Popular and Premium brand programs with the best-covered vehicles. So how does this all work?
Prospective car buyers who don't want to spend the money or take the depreciation hit on a new car turn instead to used cars. Yet many buyers are wary of that route, seeing a used vehicle as an unknown quantity—despite the prevalence of used vehicle history reports—and a source of impending trouble. A potential middle ground is a certified pre-owned purchase: a late-model vehicle certified by the manufacturer to be free of defects and offered with an extended warranty.
Despite the value they offer, CPO used car sales are a small percentage of overall used vehicle sales (expected to be roughly 7 percent in 2023). Cost is a factor in this: A CPO used car will cost hundreds or even thousands more than the equivalent non-manufacturer-certified vehicle, but the peace of mind and additional benefits may be worth it to you. The top manufacturer programs typically extend warranty coverage the longest beyond the original new car warranty, cover many model years, allow the CPO warranty to be transferred to a subsequent owner, offer a window to return or exchange the vehicle, and feature special financing rates.
But how can you determine which programs truly are the best? This is where IntelliChoice steps in. To simplify a complex analysis and set of calculations, the Popular and Premium CPO Warranty award winners typically have the best comprehensive, powertrain, and maintenance coverage beyond the longest standard used car warranty and have done so over the most recent five used model years. Note that these three coverages and the duration of additional CPO coverage are weighted to reflect their relative importance to the owner of a used vehicle—for example, extended powertrain coverage is more valuable than an extended maintenance program.
CPO Used Ownership Cost Award winners span the last three used model years. As with new vehicles (see our overview here) the seven areas of ownership costs are calculated for each model down to the trim level, but here for the first five years after a used purchase. Original sales and production figures by model, engine, and body style are considered; this ensures a proportionate result for the models that represent a higher portion of sales for a given manufacturer. In this way, ownership cost results are averaged by model, sales weighted and consolidated by brand over that three-year period. Simply put, the top-rated brands have the lowest expected costs relative to their competitors.
The Best CPO Program awards merge the results of IntelliChoice's warranty and ownership cost analyses and include secondary factors—little things that sometimes push a program to the top, including thoroughness of the vehicle inspection, special financing offers regardless of whether a deductible applies for covered problems, and return/exchange privileges.
Now you can decide if the security provided by the best CPO programs is the right path to your next vehicle purchase. --Brad Taylor
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December 15, 2023 at 05:22AM
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How We Rate Certified Pre-Owned Used Car Programs: IntelliChoice CPO Awards Explained - MotorTrend
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