Buying used. Is CPO Warranty worth having
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4th Gear
Joined: Feb 2024
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From: Burlington, Ontario
Buying used. Is CPO Warranty worth having
As a long time JLR supporter over the last 20+ years I have to say we've been very lucky with relatively problem free motoring in all 14 vehicles we have owned. We currently have a 2021 Defender 110, a 2021 I Pace, a 2017 F-Type and a 2010 LR4.
With the exception of a 2015 RR Sport we have always bought used from the local JLR Dealer and typically around 3 years old and then adding 3 year CPO with a plan to change vehicles soon after the CPO runs out.
The exception to this strategy has been the 2010 LR4 purchased in 2012 and even when the CPO ran out I couldn't bring myself to trade it because I am so in love with it. Other than regular maintenance at the dealer when under warranty and a combination of the dealer and local repair shop since, it hasn't needed any major repairs.....until recently anyway. I've just spent $4500 CAD on power steeing pump and belts and a couple of other items (it has 219,000km on it and is in excellent condition all round).
So, now to my dilemma and this post. Given the age of the LR4 I've come to the decision it's time to change so I have been looking at the Discovery (probably a 2021 or 2022 model) and the Velar of similar age.
If I'm buying from the JLR dealer I'm probably paying a 5-10% premium over what I could buy from a standard used car dealer but I can only get CPO from a JLR dealer purchase (and my experience with 3rd party warranties offered by used car dealers is they aren't worth the paper they are written on). 3 year CPO adds about $6,000 CAD on either vehicle.
So I'm possibly paying as much as $10,000 CAD premium to buy from the dealer with full 3 year CPO (albeit with a slightly lower interest rate on financing that is a "bonus" of CPO).
I am under no illusions that even a moderate repair could be $10,000+ if you are unlucky and a lot of nuisance repairs also add up fast if not under warranty.
For piece of mind I'm still leaning to CPO but wondering what others may say and what you do. There are a lot more Discovery and Velar vehicles to choose from if I'm not restricted to CPO and the JLR dealers!
Thanks in advance for comments!
With the exception of a 2015 RR Sport we have always bought used from the local JLR Dealer and typically around 3 years old and then adding 3 year CPO with a plan to change vehicles soon after the CPO runs out.
The exception to this strategy has been the 2010 LR4 purchased in 2012 and even when the CPO ran out I couldn't bring myself to trade it because I am so in love with it. Other than regular maintenance at the dealer when under warranty and a combination of the dealer and local repair shop since, it hasn't needed any major repairs.....until recently anyway. I've just spent $4500 CAD on power steeing pump and belts and a couple of other items (it has 219,000km on it and is in excellent condition all round).
So, now to my dilemma and this post. Given the age of the LR4 I've come to the decision it's time to change so I have been looking at the Discovery (probably a 2021 or 2022 model) and the Velar of similar age.
If I'm buying from the JLR dealer I'm probably paying a 5-10% premium over what I could buy from a standard used car dealer but I can only get CPO from a JLR dealer purchase (and my experience with 3rd party warranties offered by used car dealers is they aren't worth the paper they are written on). 3 year CPO adds about $6,000 CAD on either vehicle.
So I'm possibly paying as much as $10,000 CAD premium to buy from the dealer with full 3 year CPO (albeit with a slightly lower interest rate on financing that is a "bonus" of CPO).
I am under no illusions that even a moderate repair could be $10,000+ if you are unlucky and a lot of nuisance repairs also add up fast if not under warranty.
For piece of mind I'm still leaning to CPO but wondering what others may say and what you do. There are a lot more Discovery and Velar vehicles to choose from if I'm not restricted to CPO and the JLR dealers!
Thanks in advance for comments!
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