Edmunds Expects CPO Popularity to Continue this Year

Caldwell_Jessica_Edmunds

Jes­si­ca Cald­well
Senior Ana­lyst
Edmunds.com

The larg­er sup­ply of used vehi­cles in the mar­ket­place hasn’t yet been enough to off­set prices, which gen­er­at­ed record high aver­age used vehi­cle val­ues. Deal­ers saw an aver­age of $16,800 in used vehi­cle sales last year ver­sus $15,900 in 2013. Cer­ti­fied pre-owned (CPO) vehi­cles had a very strong year – 20.8% of used cars sold at fran­chised deal­er­ships, the high­est per­cent­age since CPO pro­grams were intro­duced.

Expects CPO Pop­u­lar­i­ty to Con­tin­ue With Lease Returns in Excel­lent Shape:
Used cars being trad­ed faster than pre­vi­ous years, help­ing deal­ers main­tain large CPO inven­to­ry.

One Age Cat­e­go­ry See­ing Notice­able Change Has Been 11–16 Year-Old Vehi­cles:
Rep­re­sent near­ly one-in-sev­en in sales and have seen an increase of 13.6%.

Inter­est Rates for Used Loans Have Declined and Loan Terms Are Longer:
Con­sumers can buy more expen­sive vehi­cle for low­er month­ly pay­ment than in past.

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