Motor Sales U.S.A.'s 11-year-old certified pre-owned vehicle program is closing in on selling 2-million vehicles.
Fifty percent of buyers are first-timepurchasers. Nearly 90% of them indicate they would buy another certified vehicle again, according to surveys.
Almost 80% of them indicate an interest in purchasing or leasing a new Toyota for their next vehicle, according to TMS.
Of Toyota's 1,250 dealers, 1,075 participate in the program that includes a 160-point assurance inspection by Toyota-trained technicians.
Toyota also has an unannounced independent third-party inspection program for all participating dealers.
To qualify as a certified pre-owned, a vehicle must have less than 85,000 miles, be no more than six years old and have a clear Carfax history report.
A 3-month, 3,000-mile comprehensive “bumper to bumper” warranty starts on day of purchase.
Also included is a 7-year, 100,000-mile powertrain warranty extending two years or 40,000 miles beyond the vehicle's original new powertrain warranty.
Toyota says program benefits include bringing peace of mind to the used-vehicle process; boosting Toyota residual values; facilitating new-vehicle sales through trade-in purchases; and improving a dealership's overall used-vehicle sales and profitability.
Toyota certified used-car purchasers are a 50/50 split of men and women. Buyers' average age is 47 and average income is $74,400.