A lot of people will agree to the fact that buying a used car rather than going for a brand new one makes a lot of sense. Nearly 40% value of the new car gets eroded in the first year itself.So,why not buy a 3-4-year-old car, which comes at nearly one-third the value of the new car?
Used cars fall into two categories: One is the non-CPO (certified pre-owned) or the ones that you can buy from a private seller and CPO cars that you get from an authorized dealer. So, now the debate is which one should you go for.
CPO vehicles are no doubt expensive than non-CPO ones as there are added costs for all the tests that the manufacturer performs on it. If you personally know the owner of the vehicle and are sure that the vehicle is in good condition, then you can no doubt go ahead with the non-CPO one.
But, if you are buying it from an unknown seller and have no clues about the owner or the vehicle, then it is always better to take the route of CPO vehicle. This is because the authorized dealer checks the vehicle thoroughly and makes sure that it is worth selling. Also, only vehicles that have a clean history are eligible for CPO testing.
In case you want to buy a used car on EMI in Bangalore, then too, CPO vehicles make more sense. This is because if you apply for a loan, the interest rate is lessfor the CPO loans as compared to the non-CPO ones.
Both have their own pros and cons and one must weigh them before coming to a conclusion.