We wanted to test the widespread belief that CPO cars cost thousands more than non-certified cars and determine the actual price premiums consumers can expect to pay.
After analyzing over 3.5 million used car sales in an 18-month span, what we found was surprising: The average premium for CPO cars is only $722 compared with their non-certified counterparts.
What’s more, the extra cost of buying certified is much less for specific cars:
· The top nine brands with the lowest CPO premiums only cost $289 to $447 more than non-certified used — these affordable options include highly regarded certified programs such as GM and Honda.
· The extra price of a certified car can be considerably less than a certified program’s value. For GM, its certified program is valued at $2,135, but a CPO2012 Chevy Malibu costs only $402 more than non-certified and a CPO 2012 Buick Lacrosse averages just $482 more.
· Consumers buying a CPO Honda pay an average 2.1 percent premium, or just $380 above the price of a non-certified Honda.