Ford Steps Up Certified Used Car Program
Adding Carfax reports to all certified vehicles should help credit challenged Ford used car buyers
Certified used cars
Although the Ford certified used car program still does not include off-brand vehicles from other makers, the recent announcement that the company had partnered with Carfax to provide vehicle history reports is certainly a step in the right direction, especially for customers with credit problems. Here at Auto Credit Express we should know because we’ve been helping car buyers with low credit scores find new car dealers that can offer them their best opportunity for approved auto loans.Used cars
Once they’ve received a loan approval, a majority of these buyers with bad credit choose used cars if for no other reason than they are generally more affordable. But even after this decision has been made, there is still another choice that must be made because, during the past fifteen years or so, car manufacturers have created an entirely new category of used cars that falls between the traditional used car market and that of new cars.
Certified used cars
Officially known as certified pre owned or CPO for short, most certified used car programs work something like this: If a vehicle (in most cases from the manufacturer the dealer holds a franchise with) that has been traded in, comes off-lease, or purchased from an auction meets certain age and mileage requirements, it’s given an inspection as outlined in that particular certified used car program.
Following this, the dealer must replace certain specific worn, broken or defective parts and can then sell it with a manufacturer-backed extended warranty (in reality a service contract).
The dealer is then allowed to certify this used car with the manufacturer and sell it as such. In most cases, these certified used cars are sold at higher prices (and usually have to because of the added costs involved) than similar non-certified used cars.
What is and is not covered by the service contract and what type of information the buyer receives about the history of a particular car varies widely depending on the manufacturer. Recently, Ford Motor Company announced some changes to the vehicle history reports it supplies with its certified used cars.
Ford certified used cars
Last week, it was announced that Ford and Carfax had agreed to provide Carfax Vehicle History Reports for the Ford and Lincoln Certified Pre-Owned (CPO) programs. This means that as of January 1, 2013, Ford will provide a free vehicle history report from Carfax for every Ford and Lincoln certified pre-owned vehicle.
Currently, Ford and Lincoln Certified Pre-Owned Vehicles that come with a Carfax Report are covered by the Carfax Buyback Guarantee – something that will extend to all Ford Certified Pre-owned Vehicles once the new program takes effect.
Ford CPO cars pass a 172-point inspection and are backed by a 12-month/12,000 mile comprehensive limited warranty plus a 7-year/100,000 mile limited powertrain warranty. Lincoln CPO cars pass a 200-point inspection and are backed by a 6-year/100,000 mile comprehensive warranty. Certified Ford and Lincoln buyers also get complimentary 24/7 roadside assistance.
According to John Felice, general manager, Ford and Lincoln Sales, “As sales of our new products continue to grow, so will the demand for high-quality, low-mileage pre-owned Ford and Lincoln vehicles. That’s why we work very closely with our dealers to invest in our CPO program and make it even more competitive.”
The Bottom Line
By furnishing a free Carfax Vehicle History Report for every Ford CPO vehicle, Ford has given buyers with credit problems even more peace of mind when choosing one of their certified used cars – always a good thing.
Something else that’s good: at Auto Credit Express we specialize in helping people with poor auto credit find a dealer for their best chance at getting approved auto loans.
So if you’re serious about getting your car credit back on track, you can begin now by filling out our online auto loans application.
