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Honda Motor Company and its luxury and performance division, Acura, are diving into the used car selling business. The companies are starting this venture as a way to tackle record-high new and used car prices.
As reported by Fox Business, Honda and Acura think that many people will prefer buying old vehicles due to the high prices of vehicles today. For its business, the companies are set to introduce pre-owned programs that cover cars up to 10 years old.
Of course, the used vehicles will only be sold if they are still in mint condition. The car brands will not sell anything that will turn out to be a burden to owners later on if the units have many issues.
HondaTrue Used, and Acura Precision Used guarantee that all the units that they will put up for sale will go through a 112-point inspection and rigorous quality check. Honda True is also giving these benefits to buyers: a 100 days or 5,000-mile powertrain and bumper-to-bumper limited warranty coverage, free first oil change, 12 months or 12,000 miles of roadside assistance, 3-month SiriusXM trial subscription, and a 3-day or 300-mile return policy.
For the luxury Acura Precision Used buyers, the benefits are a 6-month or 7,500-mile limited warranty, free oil change, 12-month or 12,000 miles of roadside assistance, 3-month trial of SiriusXM, trip-interruption expense reimbursement and concierge services, and a 7-day or 300 miles exchange policy.
"Higher new vehicle prices make Acura Precision Used and Acura Precision Certified vehicles an even more critical gateway to luxury vehicle ownership for younger customers," American Honda's manager of auto remarketing, Dan Rodriguez, said in a press release. "We are building on the success of the award-winning Acura CPO program as well as the incredible client service and product knowledge of our Acura dealers."
Rodriguez further said in a separate release, "Customers can now shop for high-quality certified used cars on our website, and buy with confidence from the most knowledgeable and experienced source – a Honda dealer."
Meanwhile, the used car programs are actually an extension of Honda's Certified Pre-owned (CPO) programs that covers units that are not older than five years. Honda expects that its new schemes will attract young, first-time car buyers who do not have enough funds for new ones.
