1. Even thought it's CPO, should I still get a 3rd party mechanic to take a look at it? Test drive it?
I purchased mine just a few months ago, from an out-of-state dealer, with a CPO warranty. This is what I found.
This is not really necessary given the multi point inspection that Kia requires each dealership to have to do for purposes of certification. This includes brakes tires fluids, etc.
2. How does the CPO warranty work? Is exactly the same as if I'd bought the car new after I get it transferred into my name or are only some things covered under the 10yr/100k mile warranty?
The CPO basically turns the clock back to the original warranty from the in-service date. So if the car was put in service (sold) January 1, 2019, your warranty begins on that date. The biggest benefit is that it extends the drivetrain warranty back to original 10 year/100,000 miles again. I would pull a Carfax to confirm what that date is, as well as how many owners and where the car originated at original purchase.
a) Are there any weird things to be aware of or ask about since I'll never be going to that Kia dealer after purchasing?
No, but I would definitely confirm things via a video walk around if you’re not flying to visually inspect, this is what I did as I didn’t fly to check it prior to purchase with COVID.
My model GTS AWD came with summer tires originally and living in the Midwest wanted to confirm if the tires had been swapped to all season (which they had saving me about $800). I spent about an hour on video going through every aspect of the car, looked at every wheel to make sure there was no curb rash, checked for stone chips on the hood, popped hood to confirm no Aftermarket add-ons, had them start the vehicle show me the dash to confirm no lights as well as ran through to determine tire pressures on the cluster TPMS, walked every body panel to confirm no dings or scratches. Also confirmed that they changed the oil as well (Again this is typical for a CPO).
3. Financing - Should I check out credit unions, my bank, and the dealership and just go with whatever's going to give me the best deal?
a) All things being equal I'm just looking for the lowest APR....right?
I found the best deal through capital one auto finance. When the dealer heard what my rate was they were almost shocked for a used vehicle. 2.6% for 72 months, I chose longest term due to how I am paid with commission and typically over pay anyway Everyone’s situation is different. Paperwork was sent to me via overnight from the dealership, and needed to be signed with a notary for verification purposes.
4. Is CPO really even that big of a deal if I do have a mechanic take a look at it?
Believe it or not, a CPO warranty is a bigger deal then just a mechanic once over. The dealer cost on a CPO warranty From Kia is about $600, but they usually charge between $1300 to $1500 for it and and add it to the price. It also gives peace of mind at later date to the next buyer.
Other things to consider is whether or not the sales tax or impact fee (depending on where you live) will be paid At the time you purchase to the dealership (financed), or if you will pay them once the car is shipped and Title sent a lienholder (cash). In my case I paid the taxes in cash once the lienhold received the title. This requires a little extra legwork of contacting the lienholder, going to the DMV, getting an order of request for the title, and waiting a few days for title to be sent. I then had to return to the DMV where the request was placed and pay the taxes. You will need your original paperwork to determine what the actual cost of the vehicle was for tax purposes depending on your state.
I hope this helps but let me know if you have any other questions I can help answer. Having just gone through this I understand the fear of not seeing the vehicle beforehand. This was my first out of state purchase as well.
