Want a New Vehicle but Don’t Like the Price? How About a CPO Ford?

A brand-new vehicle is the best present you can give to yourself. It’s refreshing when you can take in the aroma of the brand-new upholstery and see how perfectly the sun is reflecting off the shine of the freshly painted exterior of the model of your dreams. Being surrounded by the most cutting-edge designs, technologies, and powerful and efficient powertrains is thrilling. Unfortunately, not everyone can afford the price of a new car, truck, or SUV, especially those from luxury manufacturers or premium trims of mainstream brands. If you desire a new vehicle without the hefty pricing that comes with a brand-new model, how does a practically new vehicle sound instead?

Ford is one of the most affordable car companies on the market, but even its new models can be out of reach for certain consumers, causing them to look through used car inventories hoping to settle for something decent. However, if you are the type of person who wants the most recent tech improvements, sometimes the used market just won’t cut it, which is why you need to look for a Certified Pre-Owned Ford. What does it mean for a vehicle to be Certified Pre-Owned (CPO)? Let us elaborate.

What Is a CPO Ford?

First, let’s begin with what a CPO vehicle is in case you are unfamiliar with it. Each manufacturer offers its own version of a CPO program with eligible vehicles, but there are a lot of similarities between the different programs. They provide recent model year used vehicles at lower costs than their brand-new counterparts. They also carry a clean title. However, this doesn’t mean they won’t have a clean history; it just means they weren’t deemed totaled. Certified Pre-Owned vehicles can only qualify if they are within a set range of model years with fewer than a certain amount of miles on the odometer and must pass a rigorous multi-point inspection with reconditioning.

Ford’s CPO program actually goes above and beyond to accommodate its drivers by offering a multi-level CPO program. So rather than just meeting one set of requirements, the Ford Blue Advantage program implements two pre-owned certification levels (Gold and Blue) to include slightly older models with a few more miles of road time on them. For models to qualify as Gold Certified, the highest Blue Advantage level, they must be less than six model years old, have fewer than 80,000 miles on them, and pass a 172-point inspection. To become Blue Certified, vehicles can be up to ten years old and have fewer than 120,000 miles on them. Since they have had more road time than the Gold Certified models, they aren’t required to pass as meticulous an assessment––they only have to go through a 139-point inspection.

For the most part, CPO vehicles were leases, rentals, or even dealer vehicles. They’re models that were traded in before they were ever really broken in, resulting in you being able to find models like a 2020 Ford Escape with less than 20,000 miles on it, which, mind you, took the top spot in the J.D. Power APEAL Study among the compact SUV segment. You might even find yourself driving home in a 2021 Ford F-150 with fewer than 10,000 miles on the odometer when you choose to buy a CPO Ford because who wouldn’t want one of America’s favorite trucks sitting in their driveway like new?

How Much Money Can You Save With a CPO Ford?

A CPO Ford inherently costs less than a comparable new model because it is a used car. With a CPO vehicle, you can expect to save thousands of dollars on average. You are also making a good choice by purchasing a Ford because its models are less expensive than those of several other automakers. Additionally, you can benefit from a like-new CPO Ford while saving even more money than you might have anticipated, thanks to the Ford Blue Advantage two-level program.

Although there isn’t a set standard for CPO pricing because there are so many variables like the model, age, mileage, condition, and even the exterior paint color that are taken into account, you can count on there being a discounted price compared to the newest model. However, you will likely still find yourself paying more for a CPO model than a regular used model because of the guarantees and benefits that go along with CPO. As an added benefit, a CPO will likely have a lower interest rate for financing than a new model or an ordinary used car.

According to a late 2021 report from Experian, for a new car loan, the average interest rate was 3.86%, and for used car loans, the average was over double that at 8.21%. However, if you qualify, you might be able to get a 0.99% interest rate on a Gold CPO Ford for 36 months (though these deals can change, so always ask us what the current ones are). Take note that the interest rate may rise with a longer loan. As of the spring of 2022, Ford increased their loan options for new and like-new CPO models to reach up to 84 months. Choosing a seven-year financing option with a 4.99% interest rate will help make the monthly payments more manageable if necessary.

Will You Lose Out on New Vehicle Perks?

No! The truth is, you can enjoy very similar new vehicle benefits with a CPO Ford. Both the Blue and Gold Certified Fords come with a plethora of benefits which include:

• A Comprehensive Limited Warranty to help you cover any repair and maintenance costs to your vehicle
• A 14-Day or 1,000-Mile Money Back Guarantee if the model you choose doesn’t hold up to your standards
• 24/7 Roadside Assistance to come to your aid if you get stranded on the side of the road with your vehicle
• FordPass Rewards Points that can be used toward your first maintenance visits
• A 3-month SiriusXM satellite radio trial subscription so you can stream all of your favorite music and podcasts through over 150 channels in the vehicle, at home, or on the go with the mobile app

If you choose a Gold CPO Ford, you will benefit from a longer Comprehensive Limited Warranty term (a 12-month/12,000-mile warranty versus the 90-day/4,000-mile warranty for the Blue level CPOs) and more reward points. You’ll also get a 7-year/100,000-mile Powertrain Limited Warranty for additional coverage and peace of mind. How’s that sound for perks?

Is a CPO Worth the Money Compared to Used Prices?

There’s no denying that a CPO Ford costs more than a standard used model, which is why they’re not meant for everyone. Your basic used model will save you the most money upfront. However, in the long run, it might not be the cheapest option. Ford vehicles are some of the most reliable models on the road, but regardless of make, all vehicles need substantial maintenance and repairs with age. One less obvious benefit of buying a CPO Ford is the money you will save on maintenance and repair costs since you’re buying a practically new model. Not to mention your Ford Blue Advantage CPO benefits that will cover most of those expenses to begin with.

So, in comparison to a regular used Ford model, is a CPO Ford worth the money? Absolutely! The assurance you’ll have driving home in a Ford that still has all of its advantages makes it worthwhile. With a CPO Ford, you may even have the choice to lease if you’re seeking to save even more money monthly. For your typical used automobiles, trucks, or SUVs, leasing is not an option.

Is a CPO Ford Right for You?

We won’t try to sugarcoat the situation for you: to determine what is best for you and your situation, you will need to conduct some research. You don’t have to do it all yourself; we’re prepared to assist. You only need to decide on your budget, look into or ask us about the incentives that are offered for CPO purchases, and compare the models that catch your eye. We can help by making suggestions on which models you may like that fit within your budget, and our finance team will be happy to lay out the different prices and programs you qualify for. Contact DePaula Ford, and let us work as a team to find you the ideal vehicle and guide you toward the best financing choice.