Enter the characters you see below Sorry, we just need to make sure you’re not a robot. Jump to navigation Jump to search For the 1980 comedy film, see Used Cars. This article needs how To Make Money In The Car Industry citations for verification. Small used car lot in the United States. Typical new car dealership selling used cars outside the showroom.
A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers, rental car companies, leasing offices, auctions, and private party sales. 350 billion, the used vehicle industry represents almost half of the U. 6 million used cars and trucks were sold in the United States, a slight increase from 17. 5 million used cars sold in 2015.
In 1898, the Empire State Motor Wagon Company in Catskill, New York is one of the very first American used car lots. 5 million used vehicles were sold. A sign for a used car dealership in Utah in 1981. The Federal Trade Commission recommends that consumers consider a car retailer’s reputation when deciding where to purchase a used car. American consumers bought a vehicle history report for used cars. Vehicle history reports are one way to check the track record of any used vehicle.
In some countries the government is a provider of vehicle history, but this is usually a limited service providing information on just one aspect of the history, such as the MOT history. Several of the services, most notably those in the United Kingdom and the United States, sell reports to dealers and then encourage the dealers to display the reports on their Internet sites. These reports are paid for by the dealer and then offered for free to potential buyers of the vehicle. In the UK, the DVLA provides information on the registration of vehicles to certain companies for consumer protection and anti-fraud purposes. Companies may add to the reports additional information gathered from police, finance and insurance companies.
Car history check services are available online for the public and motor trade customers. Used car pricing reports typically produce three forms of pricing information. Dealer or retail price is the price expected to pay if buying from a licensed new-car or used-car dealer. Dealer trade-in price or wholesale price is the price a shopper should expect to receive from a dealer if trading in a car. This is also the price that a dealer will typically pay for a car at a dealer wholesale auction.
Private-party price is the price expected to pay if buying from an individual. A private-party seller is hoping to get more money than they would with a trade-in to a dealer. A private-party buyer is hoping to pay less than the dealer retail price. The growth of the Internet has fueled the availability of information on the prices of used cars. This information was once only available in trade publications that dealers had access to. There are now numerous sources for used car pricing. Multiple sources of used car pricing means that listed values from different sources may differ.
Each pricing guide receiving data from different sources and makes different judgments about that data. Pricing of used cars can be affected by geography. For example, convertibles have a higher demand in warmer climates than in cooler areas. Similarly, pickup trucks may be more in demand in rural than urban settings. The overall condition of the vehicle has a major impact on pricing. There are various theories as to how the market determines the prices of used cars sold by private parties, especially relative to new cars. One theory suggests that new car dealers are able to put more effort into selling a car, and can therefore stimulate stronger demand.
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Used cars have a statutory warranty according to the system of laws of the European Union, the so-called “Liability for defects”, which lasts for 12 months. 100 Years of the American Auto: Millennium Edition. Power and Associates Reports: Vehicle History Reports Are Becoming Increasingly Important to Used-Vehicle Buyers”. Kelley Blue Book – MSN Autos”. Why Popcorn Costs So Much at the Movies: And Other Pricing Puzzles. Saskatchewan and its damage claims history in Saskatchewan since Jan.
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