trlyka

I am buying my 2011 Audi off lease. As much as I want to lease a new car, I can't afford what I really want, so I am staying with the car I have since it is still in very good shape and has really low miles. The dealer wants $1800 to CPO it. I have one more year remaining of my standard 4 year warranty and then the CPO gives me 2 more years after that (6 years in total). This means I am essentially paying $36/mo more for 2 more years of warranty if I roll it into my loan.

I know it's smarter to buy a CPO car, but when I am on the other side of having to pay the extra money to have it certified, is it worth it? I guess if I were to sell it privately perhaps it brings more value, but if I traded it in, then does it still matter?

I appreciate any advice

gunsmoker

Don't CPO it. It's not a matter of smartness, but a matter of whether you have cash to cover unexpected expenses. And since we already know something about your financial situation, I'd say you need an extended warranty, but not CPO. If you go for the CPO you will pay the dealer to probably get you new tires and brake pads and rotors for which you will overpay this way. Then you will pay also for gazillion checks that they are really not going to do and for an extended warranty where they have to make some profit as any other institution offering such warranty. Go straight for the warranty and cover the other expenses as needed and at a lower-rate shop since these are trivial things.

trlyka

I asked the dealer about CPO and new tires, brakes etc. and he said they don't replace those things. I asked about purchasing another warranty and he made it sound like it would be more expensive to do that. But then he said they have a lot of options for warranty coverage that I can look at. Do I have to choose a warranty now? Can't I wait another year until my factory warranty expires and then decide if I want extended coverage?

gunsmoker

Sure, you can wait until the factory warranty expires. Don't buy anything from the dealer that you can find elsewhere, extended warranty included. They will rob you blind.

trlyka

So CPO really doesn't mean much to me as a current driver of the car except 2 more years of coverage which I can shop around for and get later. I think I was feeling pressured too, but I am starting to calm down. The dealer wanted me to try and get my loan by Monday.....Why? So they have better numbers for car sales for the month on Sept.

I thought dealerships were better about pressuring you, but I guess not. Or the guy I am dealing with isn't very good at hiding it.

I just applied with my credit union as well to see if they can give me a better rate. So far, it seems they will, but I have to wait until Tuesday to get final numbers. So now I have to tell the dealer I am waiting until I hear from them. Too bad so sad dealer!