3 Benefits of Buying a Certified Used Car
Did You Know…
It’s recommended to spend no more than 15% of your monthly take-home pay on car expenses, including insurance and maintenance? (And that recommendation is made for consumers who aren’t paying off any loans besides a mortgage!)
And, the percentage of vehicles priced above $50,000 has risen from 6% in 2012 to 23% in 2018? With statistics like this, it’s getting more challenging to budget for the right, reliable car to fit your needs.
How Do We Find the Right Car Without Breaking the Bank?
The best answer is often found with purchasing a used car. Check out the new vs. used car debate in a previous post. But, let’s go one step further and talk about Certified Used Cars.
The Benefits of Buying a Certified Used Car
It’s been thoroughly inspected by a technician.
Certified used cars go through a special inspection process before the dealership allows the vehicle to go on the lot to be sold. When you’re shopping for a certified used vehicle, it may be a good idea to ask the dealership what kind of inspection points it’s been through. Here are some common items that could be reviewed prior to the car being labeled as ‘Certified’:
· Clean title
· Completed any open recalls
· Inspection for damage and cleanliness (like panel alignment, bumpers, dashboard, seating, headliner, and all glass surfaces)
· Test driven (Does the engine start up without issue? Do the turn signals work? How is the HVAC performance? Is the steering wheel alignment centered?)
· Maintenance on oil and filter changes
· Test the brakes and tires
· Verify the car has the proper state-assigned safety and emissions inspections
There are a lot of inspection points a dealership could cover before deeming the car ‘Certified’. Make sure to connect with the sales rep and ask questions about the history and current condition of the car prior to purchase to keep peace of mind.
Here’s a cool list of inspections performed that you could look for through our Enterprise Car Sales partnership.
You Get More Car for Your Money
A certified used car costs less than if you buy new. That means you have more options, or the opportunity to spend less for that similar, newer model you were eyeballing on the dealership lot.
That also means taking out a smaller loan or paying it off faster.
Save Money on Registration, Repairs, and Taxes
Other costs tied with purchasing a car are the title and registration fees. These costs may vary depending on where you live. For example, in Missouri, if your vehicle is more than five years old, the registration fees are typically more affordable than the cost to register a brand new car.
Credit Unions Have Your Back
“For most of our members, an auto purchase will be one of their largest financial decisions they will make this year. We want them to feel secure with their vehicle purchase,” says ABECU Director of Consumer Lending, Ben Rixon.
In regards to the credit union’s current partnership with Enterprise Car Sales, for example, Rixon says, “[Enterprise Certified used cars] are well taken care of vehicles that have gone through an extensive inspection process, fully serviced, and some [are] still covered under the manufacturer’s warranty… Our members are able to find a ‘like-new’ vehicle for thousands of dollars less, get below Kelley Blue Book pricing and also save on their taxes!”
We’re a credit union for St. Louis and beyond (with pretty great rates on our auto loans).
If you’re ready to check out certified used cars, our partners at Enterprise Car Sales* are a great place to start.
Open your eyes to a credit union.
Become a member today.
*Used vehicles were previously part of the Enterprise rental fleet and/or an affiliated company’s lease fleet or purchased by Enterprise from sources including auto auctions, customer trade-ins or from other sources, with a possible previous use including rental, lease, transportation network company or other use. © 2019 Enterprise Car Sales.