Top Reasons for CPO

The benefits of buying a certified pre-owned vehicle might be numerous, but findings from have boiled down the reasons why, exactly, consumers consider CPO. 

Shoppers most often say it’s because of the peace of mind they get from the certification, the fact that it has a stronger warranty, or that they cannot afford to buy new, says Howard 

Polirer, director of industry education at Polirer was among the speakers Wednesday afternoon during a CPO teleconference panel hosted by General Motors. He was referring to the findings of a 2011 study conducted on behalf of AutoTrader by Morpace, which illustrated shoppers’ reasons for CPO consideration.

More specifically, 71 percent of consumers cited the peace of mind from the certification/warranty, 61 percent said it was because CPO had a better warranty than used, and 58 percent said they couldn’t afford a new vehicle.

Interestingly enough, speaking to the third of these points, Polirer explained how the economy has played a role.

“All of a sudden, the value proposition of certified to a consumer has a lot more meaning,” Polirer said Wednesday.

He was joined on the panel by Larry Pryg — the national manager of GM CPO Vehicle Operations — and Denny Dunfield, the general manager of Al Serra Auto Plaza in Grand Blanc, Mich.

In addition to sharing insight on why shoppers consider CPO, the trio covered a wide spectrum of certified topics, including some helpful tips for dealers. One of the common trends emphasized during the discussion was the increased awareness among consumers about certified.

In fact, this was one of two major factors — the other being a stronger emphasis on certified from automakers — driving the CPO sales growth. Last year was the best year ever for CPO sales, and through July, certified sales this year are up 4.8 percent from 2011, according to Autodata Corp.

Industry-wide CPO sales updated through August yet to be reported, but Pryg said Wednesday he expects GM will move 285,000 certified units for the year.

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