A used vehicle has a hidden history that may or not be visible. Dents, dings, and dirty oil are easy to spot. But you don’t know what the previous owner did to the vehicle nor do you know how well he or she maintained it. Maybe they thought oil changes were only needed when thick clouds of blue smoke puffed from the exhaust. CPO— or Certified Pre-Owned—vehicles are supposed to put your mind at ease when shopping; however, that coveted designation isn’t free. Often, CPO vehicles require a premium over non-CPO cars, but not all CPO vehicles are equal.
Take used K2 GM pickups, for example. In a new study from iSeeCars.com, getting a CPO pickup could amount to hundreds or thousands of dollars more over a non-CPO vehicle. But if you’re in the market for GM K2 pickups, that CPO premium is smaller than that of their competitors. According to the study, 2014 and newer Chevrolet Silverado 1500s and GMC Sierra 1500s command the smallest CPO premium—1.9 percent and 2.1 percent, respectively. That amounts to $529 and $646 more for a CPO Silverado or Sierra compared to a non-CPO vehicle.
The Toyota Tacoma averaged a 2.7 percent premium ($656) while the Ram 1500 commanded a 2.8-percent premium ($766). The Chevy Colorado averaged a 3 percent premium ($743) while the Toyota Tundra and Ford F-150 averaged 3.6 ($1,110) and 4.2 percent ($1,341) premiums. Both the Silverado and Sierra come in under the average CPO pickup premium of 2.8 percent or $829, making the GM pickups the best buy those wanting a CPO vehicle.
The CPO label varies from dealership to dealership, but it often denotes a vehicle that’s been thoroughly inspected by a dealership mechanic, comes with an extended warranty, has a verified vehicle history, and more. However, each dealership is different, so if you’re looking for CPO GM pickups, be sure to shop around, so you know you’re getting the best deal possible for the best truck possible.