new cars get more expensive every year. Even as the coronavirus pandemic hit in March of this year, new-car transaction prices were up more than 2.5% versus March 2019, according to a well-known automotive guidebook. But there is the pretty strong likelihood that your income in March wasn’t 2.5% more than it was in the same month a year ago.
That dynamic puts consumers in a difficult position when it comes to buying a brand-new car. They want the new features, warranty coverage, peace of mind, and — let’s face it — prestige that comes with the purchase of a new car, but if they could get all those in something a bit less expensive, they might well jump at the chance. Well, we’re here to tell you about one very credible alternative to a brand-new car — a certified pre-owned car, often known by its initials: CPO.