mellonc

Somebody help me do some math. I've been looking at some 2020 CPO models with around 5K to 7K miles on them being sold as used CPO model. Now, the CPO's have one more year of warranty that comes with 60K miles of bumper to bumper coverage. this means, I'd have more warranty coverage time and miles with a CPO than a new car. Am I doing the math right? Or is there a catch that I'm not seeing?

fiatlux

One question I'd be wondering: why did someone sell the car so soon after buying it? Sure, there are some potentially innocent reasons (loss of job, wasn't the right car, etc.) but the other one to wonder is: could this car have had so many problems the previous owner decided to dump it? One thing to keep in mind is that I don't believe used cars are subject to lemon buybacks like new cars are.

BTW I believe the CPOs now have an additional 2 years of coverage up to 100K miles. https://www.acura.com/news-and-press...ticle=11176-en

mrgold35

I purchased my 18 RLX Hybrid CPO used in Dec/19 with 7200 miles on her. The RLX was in perfect shape and the original owner was a local purchase/trade-in at the same dealership +18 months later. The only bad thing with the CPO is the 4yr/50,000 miles bumper-to-bumper clock starts with the original owner (my case in 2018). Good news is CPO get extended warranties that exceeds the 4/50k basic and 6/70k powertrain factory warranties. Once you include the extended warranty, low miles, and the steep price discounts on a vehicle that hasn't changed since 2018 makes CPO an excellent choice financially. No way I would pay +$63,000 for an identical 2020 RLX Hybrid with 10 miles when my CPO RLX was $41,000 with 7200 miles (all weather mats, clear bra, window tint, trunk tray).

I would expand my search for 2018/2019 CPO MDXs along with 2020 CPO MDXs since those versions are exactly the same (includes tech/adv hybrid models also being the same since 2018)

e-man22

Does the CPO warranty cover the exact same things as the original warranty? I know for Lexus it does not and there are things excluded from the CPO warranty.

Shadow2056

Working at Honda, having a CPO gives you a better warranty than the new models. I've had plenty of people trade their 2019s for a 2019 just because of a color change or because they wanted a better trim level. We had a woman last year trade in a 2019 Odyssey Touring. Put 900 miles on it. Came in 2 months later and traded it for the Elite model because she wanted the features on the Elite. I had another customer trade his 2019 Odyssey Touring for another Touring just because the 2nd one was the color of his team. I just had a customer trade his 19 Pilot EX-L for a 19 Pilot EX-L because the rate on his 1st one was 5% where the rate on the new one was 0.9%. If it's questionable by service to make the vehicle a CPO, they won't put it on the lot. It happens all the time.

andysinnh

Interesting conversation. Not an MDX, but like Mrgold35, we bought a CPO '18 RLX SH. In our case the car had only 1200 miles on it, and was a dealer "executive car" that they offered up as a CPO. It was essentially new. At the time, we ended up getting 30 percent off of the MSRP ($45k purchase price, $63K list) with the full CPO warranty. At the time it was well below what we could have gotten a new RLX SH for , so it made a lot of sense. If I were doing the same today, I'd have a best price given on a new 2020 MDX, and compare that to the price of the CPO 2020 MDX. If the prices were the same, then I'd go for the new one even though you have a longer warranty on the CPO, largely due to any wear-and-tear on the CPO. If the CPO is less, you'd have to decide whether that price delta between the two makes you comfortable buying a slightly-used car. The extra CPO warranty is nice as long as the car hasn't been beat on and drives "like new". At least in the case of a 2020 vs 2020....

mellonc

throwing another math mix into the question. What do you all think about very recent, like 2020 CPO, car for a lease? These are like 20 to 24% off new retail price. The 4 year/50K mile lease makes perfect sense at this cap cost (and essentially 0% interest rate) , I think.

4151zero

Do you have details on this program?

I've been reading on edmunds acura forums that the lease incentives are either 8250 or 4450 depending on which money factor you take, and of course your region.

My local dealers are throwing 10-15k discounts into the wind, not clarifying to customers just how they arrived at that discount. This is on new MDX's, not cpo's

mellonc

I don't have specific numbers. But just plugging some numbers into the online lease calculators brings up good numbers. The fact that I'd have a bumper to bumper warranty to 60K miles pretty much means I can do a 50K or 55K total mileage lease (assuming the current CPO's mileage is something less than 10K miles) for 4 years. Residuals for 4 year models also look pretty good around 25K or so. Essentially, I'll be covered for everything until the lease is over. At that point, I can decide whether the car is worth keeping. Given the rapidly changing technology with hybrids, however, I may dump for another model/make.

GhostTL09

iTrader: (1)

My dealer offer $11k off sticker yesterday for a lease or purchase option on a 2020MDX

Shadow2056

Dag! $11k?! That's some serious mark up in those things! Either that or they're trying to get rid of them for the 2021s.

e-man22

Do you mind if I ask, what did that work out to on lease payments with no money down?

4151zero

you'll find that no two leases are identical, and its not one size fits all

I learned a lot from edmunds and leasehackr forums, and depending on who the selling dealer is and your annual mileage and local tax, you can lease a base mdx for 35x-4xx, depending on how you structure it, and how aggressive the discounts bEFORE incentives.

e-man22

We are looking at 36 months, 15k miles a year, no money down. Back in March, we negotiated a 2020 tech for $530/month. Then covid hit. The lease price has been on the rise ever since. Same dealer is now at $570/month.

Bamagirl77

Not sure if this is the case here, but my dealer sells their service loaners as CPO and they usually have 4K-7K miles on them. CARFAX will let them know if the vehicle was purchased by the dealer or an individual.

honda_nut

Judging from the deals people are getting on new ones, it may be cheaper to get a new 2020 and buy an extended warranty then to go CPO. Also I agree with the above statement. A lot of those very low mileage CPOs are usually previous service loaners that have been used hard. I would check if it was used as a loaner before buying.

GhostTL09

iTrader: (1)

We were going to be rolling some negative equity so payment would have been $619 (roughly extra $169 month) for 36 months at 12k miles with no money down. Weren't really that hung up on a new vehicle (own 2012 MDX Advance) but because of dealer wanting to clean out lot for 2021's and it is easier to hide NE in new vehicles we took a look. A purchase would have been payment of $730 for 60 months yuck. So I am going to pay her truck down another 2k and sell it, then come to table with a clean slate next spring on a 2021. Leasing because she now works from home oh and Dealer offered 8k on a trade with 141k miles on MDX lol. I was expecting them to say 6k. So there are deals to be had. Her truck is clean and would sell in a week or so. Has rare Burt Orange Guts interior.

I say all of this to say pound the dealers because right now there aren't enough buyers out there. Just be patient. This time next year you'll still find a 2020 MDX straggler