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Best Used Cars to Buy Before It's Too Late!

(Luckydoor | Dreamstime.com)

By Friday, 24 July 2020 08:36 AM Current | Bio | Archive

When you need a new car, it’s tempting to buy the cheapest one you can.

As long as a car gets you from point A to point B. Certified pre-owned (CPO) cars can be a great choice for many reasons, automakers offer special incentives on their CPO vehicles, much like they do on their new cars.

New car inventory is at record lows, so automakers are counting on used car sales. In addition, manufacturers and dealers understand that many people are facing tough financial times and unable to commit to purchasing or leasing a new vehicle.

For this reason, they’re offering extra savings through cash back or low-interest financing offers, as well as deferred payments for several months.

Most deals are valid until month's end, but some could be extended to August 3.

3.49% and Higher Financing Deals

  • Lincoln is offering 3.49% financing on its certified used cars, unless you get one of its top-of-the-line Black Label models, which are available with 1.9% financing.

2.9% Financing Deals

  • Cadillac is offering 2.9% financing on some CPO vehicles.

1.9% Financing Deals

  • Audi has 1.99% financing for 66 months on most CPO vehicles.
  • Ford is offering deals of around 1.99% for 36 months on select CPO models.
  • Infiniti has 1.99% financing for 60 months or 2.99% for 72 months on most CPO models.
  • Maserati is offering 1.9% financing for 60 months on most CPO vehicles.
  • Mercedes-Benz has a rate of 1.99% for up to 36 months on many CPO vehicles.
  • Nissan is offering 1.99% financing for up to 60 months and $450 cash back on select CPO models.
  • Toyota has 1.9% financing deals on some CPO models.
  • Volvo has 1.99% rates for 60 months on select CPO vehicles, plus the first two monthly payments are covered at up to $400 each.

0.9% Financing Deals

  • Acura is offering financing rates of less than 1.0% for 36 months on select CPO models.
  • BMW has a rate just below 1.0% for 60 months, plus $500, $750, or $1,000 cash back, depending on the model.
  • Honda is offering 0.99% for 36 months on select CPO models.
  • Jaguar and Land Rover are offering 0.9% financing for 24 months or 1.9% financing for 36 months on most CPO vehicles.
  • Subaru has similar financing rates of around 1.0%, but it doesn’t specify a term length.

0% Financing Deals

  • Mercedes-Benz has 0% APR deals on select CPO models.
  • Nissan is offering 0% financing for 36 months on all Altima, Sentra, and Versa CPO vehicles.
  • Toyota is offering 0% financing on select Camry, Murai, and RAV4 CPO models.

According to Bankrate.com, these are good deals compared to the average used-car interest rates, which is around 5.26% for a short 36-month loan.

Lauren Fix, The Car Coach® is a nationally recognized automotive expert, media guest, journalist, author, keynote speaker and television host. Post your comments on Twitter: @LaurenFix or on her Facebook Page.

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When you need a new car, it’s tempting to buy the cheapest one you can.
used, cars, best, buy
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2020-36-24
Friday, 24 July 2020 08:36 AM
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