Certified pre-owned

Manufacturers' "certified pre-owned" (CPO) programs provide an extended warranty to buyers of select second hand models of their products. Manufacturers or their dealers buy, inspect and refurbish used models, then resell them, usually at a premium, over the normal market price for uncertified second hand models. Buyers pay this premium since they believe the manufacturer's certification and extended warranty reduce the risk of buying a new product. Certified pre-owned vehicles are an important segment of the used car and truck markets in some countries. Certified pre-owned programs cover other products beside motor vehicles; these include luxury watches, exercise machines, and business jets among other things.