Buying a used car has traditionally been a crapshoot, with a very uncertain outcome and little recourse if you pick the wrong vehicle. But the industry has tried to improve your odds – while earning a bit more money – with the introduction of certified pre-owned vehicle programs that have clearly clicked with consumers.
At the beginning of the new millennium, about 500,000 American motorists were buying certified used vehicles. That jumped to 2.1 million last year, and should hit another record for 2014, according to a study by auto sales site AutoTrader.com.
“Over the next few years, more than 9 million certifiable vehicles will be hitting the market, making now the time for consumers, manufacturers and dealers to pay close attention to the CPO landscape,” said Rick Wainschel, vice president of customer insights at AutoTrader.com. (more…)