Not to be confused with the PCO, which I desperately wish Ford would hurry up and send me...

I'm new here and really appreciate the feedback I've received so far... Now I have to ask for an opinion...

I'm picking up a new, or new-to-me, F350 4x4 CC LB in the very near future. That being said, I'm torn between a fairly nicely equipped Lariat (MSRP around $75K) or picking up a certified Platinum that's got wheels, tires, tonneau cover, etc and about 36K miles.

If y'all were in my shoes which would you go for? Better equipped certified used or slightly lesser brand new? I should be able to grab either one for $63-$65K after some bargaining.

Thanks for the help!

 

To pick up a truck with 36k on it for only 10k less isn't enough to sway me. That's 10 months of payments, push the difference further like 15k and ditch the CPO and it's a deal. I say ditch the CPO because you are miles ahead paying the dealer 200.00 and getting a genuine Ford premium ESP online and actually being covered. You can even add the powerstroke coverage on top for a 10/200k of engine protection.

 

It really comes down to what you want. If you want a platinum but the only way to afford one is used, go for it. But you could also look for a used Lariat and save a little. Sorry, not much help Haha. I will say, every CPO truck that I have seen in person looked in worse shape than the non CPOs. I actually started wondering if it was a scam. I'm sure that's not true for all, it was probably just the case in the few I looked at.

 

The CPO is a long honored money maker for the dealership. It adds right around 1800.00 to the used vehicle ( doesn't include dealer shop repairs which are added in addition). The dealership also gets quarterly incentives to sell more CPO vehicles. For the 1800.00 you are always ahead buying a ESP.

 

Its more than likely because the dealership has to shoot the wad for the CPO process, so they spend less money on reconditioning. Ford probably has reconditioning stipulations, but most used car directors only spend the money where they can and they try and squeek the sale. I’m not 100% what Fords stips are for CPO, but really the only things that seperate a CPO from from non CPO is traceable dealership service records. Non CPO vehicles dont get hit with the same charges in service pre front line, so they have more money to spend on reconditioning.

 

Ive seen the CPO checklist, not much different than some dealers standard check list...new windshield if needed, wipers etc. The other thing a CPO has is some kind of additional warranty(with deductible?). My feeling, from what Ive seen was that they slap "CPO " on vehicles that might otherwise have difficulty moving at an inflated price.

 

Alot of things are changing rapidly in the car business, and they have been for the last 3-4 years. With the rising cost of vehicles combined with sub prime auto lending, the majority of people trading in are perpetually upside down (and im not talking just a little “upside down”) Dealerships are giving too much for low mileage ”newer” turds. Its getting harder and harder to find good clean pre owned vehicles. Dealerships now adays do what ever it takes to make a sell, and if that includes giving too much on a trade in, then thats what they do. When they give too much they skimp in other areas. Ie less recon, or no CPO status. I work in the reconditioning field and have for years. I am also noticing that people in 2019 give -6 **** about their cars and trucks now adays. Trade ins are getting ruffer and ruffer. Every mornimg on tradewalk i notice more and more one and two year old vehicles that look like they were taken duck hunting while their kids ate cheerios in the back seat right before they wrapped the car around a telephone pole. It blows my mind. I am a new car buyer and always have been, especially after working in the recon field. If you buy used cars and trucks, you better know what your looking at, CPO or not. If people saw what most trade ins looked like pre front line, they would run across the lot to the new car sales.

 

CPO status is achieved through a combination of things that are charged against the trade in unit. The big thing is the service dept charges the used car dept a cpo pack which covers an in depth inspection. (which i can assure you the techs rarely actually do) Most techs check the tires and pull service records, change the oil, check for recalls and move on. They figure any problems after the sell will be covered by the warranty. Im not sure what Ford charges, but the BMW dealership i service daily charges $2,995 to a trade in unit for the CPO pack. Any and all recon costs including windshilds, tires, paint work, interior, wheels, and dents are extra costs charged to the used car dept. against the unit. The manufactures give the dealerships stipulations on what it takes to be CPO, but few dealerships actually follow the guidelines. Manufacturers also tell the dealerships how many CPO’s they need/ should sell every month. Bonuses are paid and dealerships are rated according to their CPO sales numbers. CPO sales are a huge thing to the dealerships, but the managers hate them because they suck all of the gross out of the unit. Most of the managers will spend the dough on CPO, but skimp on recon and pray to god the customer dosent beat them up over the condition of the vehicle. That way they still have a little bit of gross left in the deal. They also pray that no one from corperate shows up and audits their front line. If a used car director has CPO units on the front line that dont meet manufacturer CPO guidelines, and they get caught, it a guaranteed pink slip. Its a crazy business....

 

Its essentially all smoke and mirrors. The extended warranty that comes with a CPO is just better coverage than if you buy a used car and buy an aftermarket extended warranty. CPO warranty will have a lower deductable, and they are factory backed, so they use OEM parts if a repair is required.

 

A $75K Lariat should be pretty well optioned. So, it comes down to you and what you value. For me, the Platinum package isn't worth the premium ... I don't want things like retractable running boards and I definitely wanted the 2-tone paint that you can't get on the Platinum. So, that's an easy choice for me. Your preferences will be much different than mine.

You didn't mention years, so it's really hard to compare value. Presumably the new Lariat is a 2019, but what about the used? I'd expect that it's at least a couple of years older due to 36K miles.

Without knowing much else, I'd easily go with the new Lariat. But, I ultimately cannot spend that much money on a vehicle that isn't exactly what I want. Once I cross the $50K threshold, my tolerance for compromise vanishes.

 

One more plus on buying the new Lariat with zero miles. I bought my XLT new instead of a used Lariat with miles. I did loose a few options that would be nice with a Lariat but this truck has a future as a farm truck so I took what I needed and starting at zero miles to me was a better bet. Good luck in your decision.

 

Everything said is 100% spot on! Great post!

 

Well that makes me happy about my purchase. I got quoted $68k on a demo F350 Lariat. Everything brand new with all the stuff I wanted was more. Then I found I could get a brand new 3500 GMC Denali Duramax for $62k. Another $2000 off if I financed through GM. I like Fords, but not enough to pay an extra $10k or $300 a month. I’d keep looking.

 

I agree, great post. Its interesting to hear a little of what happens behind the scenes.