An older car like this 2010 Ford Taurus SEL could come with a 12-month or 12,000-mile warranty (Photo : Flickr)
While Ford saw a modest year-to-date sales increase through July of 5.4 percent, it saw an increase in certified pre-owned (CPO) sales of a much more substantial 29 percent.
Like Us on Facebook
Ford attributes this to an expansion of its CPO program in February of this year to include a wider range of offerings and protections to customers buying a second-hand car.
Ford marque CPO buyers used to receive a warranty good for three months or 3,000 miles. They now receive one good for 12 months or 12,000 miles. An additional year has been added to the powertrain warranty, making it seven years or 100,000 miles.
Ford also gives its CPO customers seven years of roadside assistance, and three months of Sirius Radio if the car is configured for it.
Lincoln marque CPO buyers receive a comprehensive limited warranty of six-years or 100,000 miles, six years of roadside assistance, and three months of Sirius Radio.
Ford Motor Company has also added to its multiple-point inspection process for both Ford and Lincoln CPOs to include newer technologies like vehicles' blind spot alert features, adaptive cruise control, and integrated communications systems.
Ford believes that it is in its interest to cultivate used car buyers. The company's national CPO manager, Todd Fites, said in a statement, "Fifty-five percent of these customers are new to the Ford and Lincoln brands, and research shows that a new CPO customer is twice as likely to come back and buy a new Ford product in the future."
General sales manager John Felice stressed the benefit to the customer and the dealer, saying, "A robust CPO program keeps more vehicles in the dealer network. It improves residual values, enhances dealer profitability, brings more customers to Ford and Lincoln lots, and ultimately results in lower vehicle costs for consumers. 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."