Lease Buyout - CPO

[mjcmsp]

Has anyone ever had the dealer CPO their vehicle at the end of a lease before they purchase it? A salesman mentioned this to me in a phone call regarding the ending of my lease of a 2009 GLI. If so how much did it cost to do? Any advantages over an extended warranty?

[rodion_kjd]

Has anyone ever had the dealer CPO their vehicle at the end of a lease before they purchase it? A salesman mentioned this to me in a phone call regarding the ending of my lease of a 2009 GLI. If so how much did it cost to do? Any advantages over an extended warranty?

Complicated question. The cost on it is variable. The actual CPO is only about $700 however the cost in getting your car to CPO condition can depend. For example, if you need 4 tires (they have to match) you'll be looking at several hundered more dollars. It also has to be current regarding maintence; that could be anything from just an oil change to a full tune-up depending on how many miles are on your vehicle.

The main advantage of CPO over a 3rd party extended warranty is that because Volkswagen offers the CPO there isn't ever any hassle. The 3rd party companies look for any reason to deny coverage. A Volkswagen CPO is just an extension of the manufactuer's original new car warranty so it's simple, easy, and good nationwide.

Hope that helps!

-Ken

[mjcmsp]

Thanks for the info. At least that will be a good baseline number for me to go on. Everything on the car meets CPO spec (except possibly the brakes). Some minor paint scuffs that can be buffed out, some very minor scratches and a small crack in the front bumper I haven't bothered to repair since it's a black car and is in a hardly visible area. Not sure how picky they are about stuff like that for a CPO....

Still on the fence about extended warranty and CPO, but I want to have a good idea of prices so I don't get ripped off if I do decide to get one.

[rodion_kjd]

Thanks for the info. At least that will be a good baseline number for me to go on. Everything on the car meets CPO spec (except possibly the brakes). Some minor paint scuffs that can be buffed out, some very minor scratches and a small crack in the front bumper I haven't bothered to repair since it's a black car and is in a hardly visible area. Not sure how picky they are about stuff like that for a CPO....

Still on the fence about extended warranty and CPO, but I want to have a good idea of prices so I don't get ripped off if I do decide to get one.

Don't be too hard on the dealer if the CPO ends up costing around $1700. Volkswagen has very, very strict standards for the condition of their CPO vehicles. You can probably get a similar coverage aftermarkt warranty for less just be aware you'll have to fight a bit for them to cover repairs if you ever need them.

[mjcmsp]

Ended up just purchasing an extended bumper-to-bumper (exclusionary) warranty. 5 years/60,000 miles, $100 ded. for $2300 (talked them down from $3300 by pitting dealers against each other). Prorated refundable and transferable. CPO just wasn't going to be worth it for only 2yr/24,000 mile warranty - needed new brake pads and a small 2" dent removed to qualify.

Now of course nothing will break and this will have been all for naught.

[rodion_kjd]

I just ticked over 70k on my 2008 GTI. I bought a 5yr/100k warranty for it... I haven't had a single thing go wrong. Oh well.