New cars are great, but used cars offer big financial advantages thanks to depreciation. The average car loses 35 percent of its value in the first three years of its life which is great news for drivers shopping for a good deal on the used market.
- Find and research the best new cars, get best pricing on your next vehicle, and stay up to date with industry news, auto shows and more from Roadshow by CNET.
- Price does not include new Honda vehicles freight - $930 freight for new passenger cars or $1,095 freight for new SUV vans and pick-up trucks. WA - Sales tax or other taxes, tag, title, registration fees, government fees, and $150 NEGOTIABLE DOCUMENTARY SERVICE FEE are not included in quoted price.
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Used-Car Financing & Warranty FAQs
Financing & Lease
Can you lease a used car?
Most dealers don't offer leasing on used cars, but used cars that were leased when new and are now for sale provide some benefits, such as good condition and low miles.
Legacy obituaries. Related:
Off-Lease Car Glut Might Mean Used-Car Buyer's MarketHow do I finance a used car?
Using the dealership's lender is convenient, but it's best to shop around at banks and credit unions ahead of time so you'll know whose rate is best when you're at a dealership. This research may take a few days but can be well worth the time.
Related:
Inside the Finance and Insurance RoomAuto Loan Basics for First-Time Buyers
What You Need to Get a Car Loan
Are loan rates higher for used cars?
Yes, loan rates are higher overall for used versus new cars, but they may be better if the car is factory-certified pre-owned because manufacturers may offer attractive interest rates to promote CPO sales. Before financing with a dealer, bank or credit union, check the national average interest rates for used cars at Bankrate.com.
Related:
Report: Average payments for New, Used Cars Rise
How do I know if I can afford the payments?
You can estimate your payments here using Cars.com's finance calculators. You should have a down payment of at least 20 percent, financing lasting no longer than four years and a principal, interest and insurance total not exceeding 10 percent of your gross household income.
Related:
Can You Afford Your Car?Warranty
Are extended warranties worth the money?
Extended warranties offer peace of mind, but apart from the coverage included with factory-certified pre-owned cars, additional plans come with a price that studies have shown to be higher than the benefits you can claim in repairs.
Related:
CPO Pros and Cons Versus Extended WarrantyWhat warranty comes with a used car?
Carson Wentz
Initial warranties are limited by the miles and age of a car, so if the car has higher miles, original warranties may no longer apply. Also note that warranties don't always transfer to subsequent buyers. Check the vehicle manufacturer's specifications for warranty limits.
Car Insurance
Related:
Making Sense of Used-Car Warranties
- Find and research the best new cars, get best pricing on your next vehicle, and stay up to date with industry news, auto shows and more from Roadshow by CNET.
- Price does not include new Honda vehicles freight - $930 freight for new passenger cars or $1,095 freight for new SUV vans and pick-up trucks. WA - Sales tax or other taxes, tag, title, registration fees, government fees, and $150 NEGOTIABLE DOCUMENTARY SERVICE FEE are not included in quoted price.
- Streaming Now on Disney+ – Sign Up at last chance. ⚡ Watch the new Cars 3 trailer.Blindsided by a new generation o.
Used-Car Financing & Warranty FAQs
Financing & Lease
Can you lease a used car?
Most dealers don't offer leasing on used cars, but used cars that were leased when new and are now for sale provide some benefits, such as good condition and low miles.
Legacy obituaries. Related:
Off-Lease Car Glut Might Mean Used-Car Buyer's MarketHow do I finance a used car?
Using the dealership's lender is convenient, but it's best to shop around at banks and credit unions ahead of time so you'll know whose rate is best when you're at a dealership. This research may take a few days but can be well worth the time.
Related:
Inside the Finance and Insurance RoomAuto Loan Basics for First-Time Buyers
What You Need to Get a Car Loan
Are loan rates higher for used cars?
Yes, loan rates are higher overall for used versus new cars, but they may be better if the car is factory-certified pre-owned because manufacturers may offer attractive interest rates to promote CPO sales. Before financing with a dealer, bank or credit union, check the national average interest rates for used cars at Bankrate.com.
Related:
Report: Average payments for New, Used Cars RiseHow do I know if I can afford the payments?
You can estimate your payments here using Cars.com's finance calculators. You should have a down payment of at least 20 percent, financing lasting no longer than four years and a principal, interest and insurance total not exceeding 10 percent of your gross household income.
Related:
Can You Afford Your Car?Warranty
Are extended warranties worth the money?
Extended warranties offer peace of mind, but apart from the coverage included with factory-certified pre-owned cars, additional plans come with a price that studies have shown to be higher than the benefits you can claim in repairs.
Related:
CPO Pros and Cons Versus Extended WarrantyWhat warranty comes with a used car?
Carson Wentz
Initial warranties are limited by the miles and age of a car, so if the car has higher miles, original warranties may no longer apply. Also note that warranties don't always transfer to subsequent buyers. Check the vehicle manufacturer's specifications for warranty limits.
Car Insurance
Related:
Making Sense of Used-Car WarrantiesWhat is a bumper-to-bumper warranty and what does it cover?
Often called a basic warranty or new-vehicle warranty, a bumper-to-bumper policy covers components such as air conditioning, audio systems, vehicle sensors, fuel systems and major electrical components. Most policies exclude regular maintenance such as fluid top-offs and oil changes, but a growing number of brands have separate free-maintenance provisions. Bumper-to-bumper warranties typically expire faster than powertrain warranties. Terms are typically three years or 36,000 miles, although some have terms as high as six years or 60,000 miles. Check the vehicle manufacturer's specifications for bumper-to-bumper warranty limits.
Certified Used Cars
What does CPO mean?
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A certified pre-owned or CPO car has been inspected to meet minimum quality standards and typically includes some type of warranty. While dealers and third parties certify cars, the gold standard is an automaker-certified vehicle that provides a factory-backed warranty, often extending the original coverage. Vehicles must be in excellent condition and have low miles and wear to be certified, which is why off-lease vehicles feed many CPO programs.
Related:
Tips to Buying a CPO Car