Here is a question for car consumers:  What has the low cost of a used car with the reliability and auto warranty of a brand new car?  The answer is a certified pre-owned car.

The term CPO is used in the car industry to identify late model used cars that have low-mileage.  These automobiles have gone through a detailed inspection and come with an auto warranty by the factory to back them up.  CPOs are usually in better shape than other used cars and have a maintenance schedule that can be verified by using Carfax.

Most of the time certified pre-owned programs come with an inspection, auto warranty, and an option to return the vehicle if you decide you don’t like it.  What you end up getting for the extra money you spend on a CPO vehicle varies quite a bit.  For instance, Lexus will give you a 100,000 total vehicle and 3 year limited warranty on its CPO cars.  Chrysler, on the other hand, gives an inspection with a return policy, but only offers a limited auto warranty of 3,000-mile, 3 months.

In order for consumers to feel like they have the same service as a new car, they should ensure that they get an extension of the factory auto warranty offered.