Warranty coverage can vary from one manufacturer to the next. While most certified pre-owned programs transfer and extend the existing new-car warranty terms, some offer a combination warranty of an additional term and the total vehicle mileage. Others offer a warranty that simply represents an additional year and mileage value.

This is the amount for which you are responsible when repair work is performed under the warranty. Some manufacturers require a deductible while others don't, so always ask.

When a new-car warranty transfers with the certification of the car and remains eligible for the next owner, it is known as a transferable warranty. Once the original transferable warranty expires, an extended warranty takes effect.

These inspections entail a comprehensive vehicle test to ensure that all parts are in excellent working order. The point inspection list is simply a numbered list of exactly what parts of the car are examined. While many inspections range from a 70- to 150-point checklist, most are very similar and are performed using strict guidelines. Ask your local dealer about specific details.

Most certified pre-owned programs offer free roadside service in case your car breaks down while still under warranty.

Some manufacturers offer a very limited return or exchange period. Find out if you will get the sales tax and licensing/registration fees back should you return or exchange the car.

Reduced-rate loans are available through many certified pre-owned programs. Manufacturer-backed inspections and warranties help eliminate the risks involved with buying pre-owned, so buyers that qualify can take advantage of the great offers.

Some manufacturers offer certified pre-owned cars for lease. The length of the lease is often shorter than a new-car lease, but it will cost you less.