LOS ANGELES -- Certified used vehicles are among the industry's best-kept secrets, according to a study by J.D. Power and Associates.
Power's 2004 Used Vehicle Sales and Certification Study reports that 63 percent of buyers of certified used luxury vehicles say they learned about certification at the dealership rather than through advertising. So did 71 percent of the buyers of certified nonluxury vehicles.
The study found that consumers will pay an average of $3,481more for a luxury used vehicle that is certified than a comparable one that is not. Consumers said they were willing to pay $851 more for a certified nonluxury vehicle than a comparable vehicle that is not certified.
About 12,700 people who bought used vehicles from the 1999 to 2004 model years took part in the study.