SAN DIEGO--October 2, 2012: instaVIN® has launched a new Certified Pre-Owned program designed to help auto dealers attract and retain used car customers. instaVIN CPO programs create incremental profits for auto dealers while increasing consumer confidence. Dealers can sign up on the instaVIN Web site (www.instaVIN.com) and certify their first vehicle within hours. The instaVIN Certified Pre-Owned Program is administered by NAC and backed by an "A" rated insurance carrier with more than $26 billion in assets.
CPO programs are now a well-established part of the used car industry, with nearly all OEMs offering one to their dealers. Certified vehicles will typically sell for 10% - 15% more than a car that is sold "AS IS" and sell faster. Consumers prefer them, with 3 of 5 car buyers considering a pre-owned car only if it came with inspections and warranty.
The instaVIN CPO program enables franchised dealers to certify their off-makes and older nameplate vehicles, and independent auto dealers or BHPH dealers to reap the benefits of a trusted certification program. It is available for most car/truck makes and models and consists of three parts:
- Current instaVIN Vehicle History and Title reports
- Up to 99 point CPO vehicle inspection
- 3 or 12 month limited warranty
Once the dealer chooses to certify a vehicle, a certification package is purchased from instaVIN, which allows the dealer to run instaVIN Vehicle History and Title reports to check for negative title brands and similar events. Assuming all is clear with the instaVIN History Report, the dealer either performs a vehicle inspection according to the program's certification standards, or orders an independent inspection through instaVIN.
After passing inspection, the vehicle is registered with instaVIN and a 3-month or 12-month limited warranty is issued. Following registration, the dealer has access to a free copy of the comprehensive CPO report that they can provide to their customer to validate the warranty, including the instaVIN Vehicle History and complete inspection reports.
