The new program will apply to Honda and Acura vehicles.
It is meant to attract younger budget-minded buyers.
New vehicle inventories are extremely low because of pandemic-driven circumstances and part shortages. One of the resulting side-effects is used car prices which have exploded over the 12 to 18 months. For these reasons, American Honda Motor Co. will be extending its certified used-car programs to include vehicles that are up to 10 years old.
Not too long, purchasing a three- or four-year-old vehicle was a wise option. Depreciation having robbed 30%-50% of the vehicle’s initial value meant that deals were very possible. In 2022, the old ways no longer apply. This new program will be extended to vehicles that are far more affordable, especially for first-time buyers.
“We wanted to make it easy for new buyers to experience our brand,” Dan Rodriguez, manager of auto remarketing at American Honda told Automotive News. “We really look at this expansion as a critical way to bring in new customers to our brand — kind of a gateway product.”
These older Honda vehicles will be sold with a 100-day or 5,000-mile manufacturer-backed warranty no matter the indicated mileage. Meanwhile, Acura vehicles will receive a far more comprehensive 6-month/7,500-mile warranty. Either way, the vehicles will undergo a 112-point inspection in order to receive the certification.
Last year, 40 million used vehicles were sold in the US, compared to 15 million new ones.
