Finding a CPO used car with a price tag below $10K is possible in the United States of America, even in 2022 amid rising prices.
Most offerings in the low-cost segment are small hatchbacks and sedans, and if someone is seeking a vehicle that is both affordable and good enough, he/she is able to find it.
Car and Driver has made an analysis of the American used car market to find out how realistic it is to buy a CPO used car cheaper than $10,000.
A certified pre-owned (CPO) used car differs from the average used vehicle. A dealer certifies a CPO vehicle on its own or using an automaker’s specifications; there is a manufacturer-backed warranty.
CPO cars are newer, lower-mileage examples that recently came off their lease meaning they are significantly cheaper than similar new models.
With the pricing under $10,000 before taxes and all fees, Ford’s older compact vehicles, the Focus or Fiesta models, are most often found, as well as the Honda Fit and Nissan cars.
A 10-year-old Subaru Impreza at $9,000 and a 2013 Ford Escape (pictured) with 113,000 miles and the price of $11,000 were spotted too.
If you want a certified used SUV or a newer used passenger car, they usually cost 15,000-16,000 US dollars. In this price group, you can meet many 2- or 3-year-old options.
An average new-vehicle transaction price is $44,832 in May – it’s just for comparison.
Please note that normally the lower the purchase price, the higher the mileage is, and remember that the value of a CPO warranty is higher for high-mileage options.
Younger vehicles are better in terms of technologies, their safety features are more varied and advanced. Take this fact into account when buying a used vehicle. So, you’ll have to choose between safety and cheapness.
Well, you can find a car under $10,000 in 2022, but you have to look well, and it is advisable to think carefully before purchasing.