Hyundai and Lexus Earn Top CPO Program Recognition from Autotrader

ATLANTA, May 5, 2016 /PRNewswire/ -- Certified pre-owned (CPO) vehicles are typically late-model, low-mileage vehicles that come with a host of perks like manufacturer-backed warranties, roadside assistance and more. While nearly every manufacturer offers a CPO program, the terms and benefits vary greatly. To make it easy for car shoppers to discover which CPO programs stand out, the experts at Autotrader® analyzed all brands' CPO terms and selected the 10 best luxury and 10 best non-luxury CPO programs, with one overall winner and nine honorable mentions in each category. For 2016, Autotrader selected Hyundai and Lexus as the winners for Best CPO Programs in their respective categories.

"The number one benefit of any CPO program is the warranty, so we decided that the length of warranty should be the top criteria when choosing this year's Best CPO Programs," said Brian Moody, executive editor at Autotrader. "Hyundai's CPO warranty is an extension of its exceptional new car warranty, and Lexus's warranty is simply the best in the luxury category."

CPO vehicles offer many of the same benefits of a new car without the higher price tag and steep depreciation. Each vehicle undergoes an extensive inspection defined by the manufacturer and must meet a variety of guidelines from age to mileage. Once certified, these vehicles come with a manufacturer-backed warranty, giving buyers the confidence they desire when purchasing a pre-owned vehicle. In fact, 64 percent of shoppers say that the certification process and warranty give them peace of mind.¹    

Hyundai earned top honors in the non-luxury category this year with its impressive CPO warranty, which offers five years or 60,000 miles of bumper-to-bumper limited coverage and 10 years or 100,000 miles of powertrain coverage from the car's original sale date. Hyundai's selection was cemented by the fact that the warranty offers a relatively low deductible of $50, and the warranty is fully transferable to subsequent owners in a private sale.

Meanwhile among luxury automakers, Lexus's CPO program "L/Certified" won top honors primarily due to its excellent warranty along with other alluring benefits. L/Certified offers limited bumper-to-bumper coverage for up to six years and unlimited mileage from the vehicle's original sale date—a risky proposition, but one that shows the brand is willing to firmly stand behind its vehicles. Lexus's program boasts no deductible for covered repairs, meaning that owners won't have to pay a penny if their cars suffer a warranty claim. Icing on the cake is the fact that Lexus's program touts complimentary maintenance covering the next four factory-recommended services for two years or 20,000 miles­—a small benefit, but one that's certainly worth mentioning.

The selections for this year's Best CPO Programs were based primarily on warranty coverage, with a minimum of six years/100,000 miles for powertrain coverage. Other factors included bumper-to-bumper limited warranty length, warranty transferability and deductible amount.

To find out more about these CPO programs and why the experts at Autotrader selected them for top honors, check out the following articles: 10 Best Non-Luxury CPO Programs for 2016 and 10 Best Luxury CPO Programs for 2016.

[1] 2015 Autotrader Certified Pre-Owned Study

About Autotrader 
Autotrader is the most visited third-party car shopping site, with the most engaged audience of in-market shoppers. As the foremost authority on automotive consumer insights and expert in online and mobile marketing, Autotrader makes the car shopping experience easy and fun for today's empowered consumer looking to find or sell the perfect new, used or Certified Pre-Owned car. Using technology, shopper insights and local market guidance, Autotrader's comprehensive marketing solutions guide dealers to personalized digital marketing strategies that grow brand, drive traffic and connect the online and in-store shopping experience.

Autotrader is a Cox Automotive™ brand. Cox Automotive is a subsidiary of Cox Enterprises. For more information, please visit http://press.autotrader.com.

About Cox Automotive
Cox Automotive Inc. is transforming the way the world buys, sells and owns cars with industry-leading digital marketing, software, financial, wholesale and e-commerce solutions for consumers, dealers, manufacturers and the overall automotive ecosystem worldwide. Committed to open choice and dedicated to strong partnerships, the Cox Automotive family includes Autotrader^®, Dealer.com^®, Dealertrack^®, Kelley Blue Book^®, Manheim^®, NextGear Capital^®, vAuto^®, Xtime^® and a host of other brands. The global company has nearly 30,000 team members in more than 200 locations and is partner to more than 40,000 auto dealers, as well as most major automobile manufacturers, while engaging U.S. consumer car buyers with the most recognized media brands in the industry. Cox Automotive is a subsidiary of Cox Enterprises, Inc., an Atlanta-based company with revenues of $18 billion and approximately 55,000 employees. Cox Enterprises' other major operating subsidiaries include Cox Communications and Cox Media Group. For more information about Cox Automotive, visit www.coxautoinc.com.

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SOURCE Autotrader

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