Which would you prefer? The intoxicating scent of a new car or $1000 in the bank? Ah, I see you hesitate. But no one blames you. We’ve all looked at that Honda coupe or BMW M roadster or wished we could be seen in that Cadillac convertible. Americans, though, seem to be quickly coming out of the “new car look” and turning to certified pre-owned vehicles to the automakers’ chagrin.

Which would you prefer? The intoxicating scent of a new car or $1000 in the bank? Ah, I see you hesitate. But no one blames you. We’ve all looked at that Honda coupe or BMW M roadster or wished we could be seen in that Cadillac convertible. Americans, though, seem to be quickly coming out of the “new car look” and turning to certified pre-owned vehicles to the automakers’ chagrin.

Which would you prefer? The intoxicating scent of a new car or $1000 in the bank? Ah, I see you hesitate. But no one blames you. We’ve all looked at that Honda coupe or BMW M roadster or wished we could be seen in that Cadillac convertible. Americans, though, seem to be quickly coming out of the “new car look” and turning to certified pre-owned (CPO) vehicles to the automakers’ chagrin.

The reasoning makes sense. Cars are expensive items. Besides the initial purchase, there’s all those pesky expenses like insurance and maintenance. Also, unless you buy a widely sought classic, cars depreciate in value faster than a boy band’s Top Ten Hits.
Fuel costs, though, are especially taking a bite out of new car purchases. Consumers are now turning to certified pre-owned programs to get their vehicles as well save on fuel. says AutoView president Raghavan Mayur, “CPOs have a natural appeal to consumers who are feeling the pinch of high gasoline prices and see the specter of rising interest rates on the horizon,”.

According to TechnoMetrica Market Intelligence, interest in CPO vehicles is on the rise with 43% of people surveyed stating cost is their prime consideration when purchasing a vehicle. Also, people who have purchased a CPO in the past or at least have knowledge about them are more likely to purchase one again (43%).

Full article can be found here. An excellent resource on CPO vehicles is Intellichoice whose “Best Certified Programs” provides an excellent snapshot of the best brands in the industry.