Think about a used car and you might think junky, dirty and old. But another market is catching the attention of savvy buyers who want updated rides without paying new-car prices.
These certified used or certified "pre-owned" (CPO) vehicles have been inspected and refurbished by the manufacturer and are backed by extended warranties. The certified used car market isn't one that automakers can afford to ignore.
According to a recent J.D. Power and Associates study, sales of certified used cars have increased 46% since 2000. Auto experts estimate that 1.6 million certified used cars are sold annually, a number equivalent to 10% of new vehicle sales.
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