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You Can Reduce the Overall Purchase Price of a Vehicle if You

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Vehicle previously owned by another

For the 1980 comedy movie, see Used Cars.

Modest used car lot in the United States.

Typical new machine dealership selling used cars outside the exhibit.

A used car, a pre-owned vehicle, or a secondhand automobile, is a vehicle that has previously had one or more than retail owners. Used cars are sold through a diverseness of outlets, including franchise and independent automobile dealers, rental car companies, buy hither pay here dealerships, leasing offices, auctions, and private party sales. Some car retailers offer "no-haggle prices," "certified" used cars, and extended service plans or warranties.

Used car industry [edit]

Used automobile export industry [edit]

Depreciation levels of vehicles differ a lot in exporting and importing countries due to differences in income levels. The toll of a vehicle depreciates faster in high-income countries than in low-income countries. Used vehicles sellers in high-income countries can thus sell their used vehicles for a higher price in low-income countries. This is the incentive to consign used vehicles.[ane]

The major car exporting countries (which includes both new and used vehicles) are Japan, the Eu, USA, and Canada.[i]

In the EU, 60% of used cars are marketed in other European union countries. The used auto exports in the Eu are focused on East Europe, the Caucasus, Primal Asia, and Africa.[one]

In the US, used vehicle exports are focused on United mexican states, Nigeria, and Benin.[1]

The African continent gets ninety% of its imports from Europe [2] and many of these cars would not meet European emissions.

Used car industry in the USA [edit]

Established in 1898, the Empire State Motor Wagon Company in Catskill, New York was one of the first American used car lots.[3]

The used vehicle market is essentially larger than other large retail sectors, such equally the school and role products market (U.s.a.$206 billion in estimated annual sales) and the home improvement market (US$291 billion in estimated almanac sales).[ commendation needed ]

With almanac sales of over US$350 billion, the used vehicle manufacture represents most half of the U.Due south. motorcar retail market and is the largest retail segment of the economic system. In 2016, about 17.six million used cars and trucks were sold in the Usa, and 38.5 million were sold worldwide.[four]

Used vehicle retailer [edit]

A sign for a used automobile dealership in Utah in 1981.

The Federal Merchandise Commission recommends that consumers consider a automobile retailer's reputation when deciding where to purchase a used car.[5]

Vehicle history reports [edit]

In 2006, an estimated 34% of American used-vehicle buyers bought a vehicle history report.[6] Vehicle history reports are i style to bank check the runway record of any used vehicle. Vehicle history reports provide customers with a record based on the vehicle's vehicle identification number (VIN). These reports volition betoken items of public record, such as vehicle championship branding, lemon constabulary buybacks, odometer fraud, and product call up. The report may indicate minor/moderate collision damage or improper vehicle maintenance. An effort to identify vehicles that take been previously endemic by hire car rental agencies, police and emergency services or taxi fleets is also made. Consumers should inquiry vehicles carefully, as these reporting services only report the information to which they have access.

In some countries, the government is a provider of vehicle history, but this is usually a limited service providing information on merely one attribute of the history, such as the U.k.'s Ministry building of Transport history. The U.S. Department of Justice's National Motor Vehicle Title Registration System has simply about a dozen approved data providers, about one-half of which sell car history information to consumers; the residual piece of work merely with car dealers. None of them are currently gratis of charge to consumers and many are not free even to the motorcar dealers.[7] The Better Business organisation Bureau recommends using one of these approved information providers when researching a used machine.[8] [nine] The history reports use several sources to gather the data for each vehicle including, the police, the Commuter and Vehicle Licensing Bureau (DVLA), finance houses, the national mileage register, insurance companies, and manufacture bodies.[10]

Several of the services, near 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 past the dealer and then offered for free to potential buyers of the vehicle.

In the Great britain, the DVLA provides information on the registration of vehicles to sure companies for consumer protection and anti-fraud purposes. Companies may add to the reports of additional information gathered from police, finance, and insurance companies. Automobile history check services are available online for the public and motor trade customers.

In Republic of india Parivahan a Regime-endemic Ministry building of Road and Ship highway say-so is responsible for providing information related to Vehicle Registration and Service History.[11]

Used car pricing [edit]

Used car pricing reports typically produce three forms of the 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 cost a shopper should await to receive from a dealer if trading in a car. This is also the price that a dealer volition typically pay for a car at a dealer wholesale auction.
  • Private-party toll is the cost expected to pay if buying from an individual. A individual-political party seller is hoping to become more coin than they would with a merchandise-in to a dealer. A private-party buyer is hoping to pay less than the dealer retail toll.

The growth of the Internet has fueled the availability of information on the prices of used cars. This information was in one case just available in trade publications that dealers had admission to. There are now numerous sources, such every bit online appraisal tools and internet classified ads, for used car pricing.[12] Multiple sources of used car pricing means that listed values from dissimilar sources may differ. Each pricing guide receiving data from dissimilar sources and makes different judgments about that information.

The pricing of used cars tin can exist afflicted by geography. For example, convertibles have a college demand in warmer climates than in cooler areas. Similarly, pickup trucks may exist more in need in rural than urban settings. The overall condition of the vehicle has a major touch on pricing. Condition is based on appearances, vehicle history, mechanical status, and mileage. At that place is much subjectivity in how the condition of a car is evaluated.[13]

There are diverse theories every bit 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 endeavor into selling a car, and tin can therefore stimulate stronger demand. Some other theory suggests that owners of problematic cars ("lemons") are more probable to want to sell their cars than owners of perfectly performance vehicles. Therefore, someone buying a used motorcar bears a higher adventure of ownership a lemon, and the market price tends to adjust downwards to reflect that.[14]

Laws and regulations [edit]

Geographically specific laws [edit]

Africa [edit]

There are some 54 African countries that set import age restrictions on used vehicle imports, while 27 African countries practise not place any import restrictions on used vehicle imports, and just 5 African countries (Egypt, South Africa, Sudan, Morocco) ban all used vehicle imports.

  • Republic of mauritius, Seychelles, Algeria, and Republic of chad fix an historic period restriction of 3 years
  • Gabon and Senegal set an age restriction of iv years
  • Libya, Mozambique, Niger, and Tunesia set up an age restriction of 5 years
  • Côte d'Ivoire sets an age restriction of 7 years
  • Kenya, Mauritania, Namibia set an historic period restriction of 8 years
  • Eritrea, Benin, Democratic Republic of Congo prepare an age restriction of 10 years
  • Liberia Nigeria and Swaziland set an historic period restriction of 12 years

Gambia, Ghana, Republic of mali, Côte d'Ivoire, and Cape verde have also implemented punitive taxation for vehicles beyond a sure age. Algeria besides has an internal consumption tax and Uganda has an environmental tax.[1] Zambia and Southward Africa also take an inspection test requirement as a precondition to vehicle registration on vehicle imports[1]

Asia [edit]

China [edit]
Japan [edit]

Nihon has an inspection tests as a precondition to vehicle registration on vehicle imports[1]

Europe [edit]

European Spousal relationship [edit]

Used cars have a statutory warranty according to the organisation of laws of the European union, the so-called "Liability for defects", which lasts for 12 months.[xv]

North America [edit]

Canada [edit]

In Ontario, Canada, new and used vehicle sales are regulated by the Ontario Motor Vehicle Manufacture Quango (OMVIC). In Alberta, Canada, new and used vehicle sales are regulated by the Alberta Motor Vehicle Industry Council (AMVIC).

U.s.a. [edit]

Used vehicles usually must exist 25 years or older to be imported merely that requirement can be waived if a Show and Display exemption is given but the exemption limits the mileage to ii,500 miles (four,023 Kilometers) a year and only select cars are eligible for the exemption.

There are no age limits for used car exporting they can be exported at any time regardless of historic period or condition

Key America [edit]

Panama has a used vehicle import age brake of 10 years, while Mexico has an age restriction of 5 years.[one]

In the Caribbean area, most countries have age restrictions on used vehicle imports.[1]

South America [edit]

Bolivia, Paraguay, and Peru are the only countries that allow used vehicle imports. Paraguay has a used vehicle age limit of 10 years, while Peru has it set to v years.[1]

Oceania [edit]

Australia [edit]

In the Australian state of Queensland, when the odometer reading is fewer than 160,000 kilometres (99,000 mi), and the car was manufactured less than 10 years earlier the auction date, the warranty is 3 months or 5,000 kilometres (three,100 mi), whichever happens outset. If the odometer reading is 160,000 kilometres (99,000 mi) or more, or the motorcar was manufactured 10 years or more than earlier the sale date, there is no warranty. Also, motorcycles, caravans, and commercial vehicles do not have a warranty at all. A commercial vehicle is a motorcar with nine seats or more than, as well equally a vehicle that is able to conduct i ton of appurtenances, unless it is a utility, which is a car designed to carry goods. For instance, a Holden Commodore Utility or a Ford Falcon Utility. As these are cars that come up with the back section being function of the car's trunk. Other vehicles that have an interchangeable back department are regarded as cab chassis and the dorsum of the vehicle can be ordered from the factory or can exist custom-built to suit the needs of the vehicle buyer. The same every bit a light truck can be ordered as a tip truck or a body truck

See likewise [edit]

  • Certified Pre-Owned
  • Car supermarket
  • Grey import vehicle
  • Decrepit motorcar
  • Lemon (motorcar)

References [edit]

  1. ^ a b c d eastward f chiliad h i j "Used Vehicles: A Global Overview" (PDF). United Nations Economic Commission for Europe. 2017. Retrieved seven Oct 2020.
  2. ^ Environment, U. N. (2020-10-23). "Global Trade in Used Vehicles Report". UNEP - UN Environment Program . Retrieved 2021-02-25 .
  3. ^ Flammang, James M. (1999). 100 Years of the American Car: Millennium Edition. Publications International. ISBN9780785334842.
  4. ^ "Market Written report" (PDF). dealers.edmunds.com. 2017.
  5. ^ "Buying a Used Car". Consumer Information. 2016-11-08. Retrieved 2020-12-27 .
  6. ^ "J.D. Power and Associates Reports: Vehicle History Reports Are Becoming Increasingly Of import to Used-Vehicle Buyers". Theautochannel.com. Retrieved 2010-08-15 .
  7. ^ Research Vehicle History; Approved NMVTIS Information Providers, U.S. Department of Justice, National Motor Vehicle Title Registration Organization, retrieved seven Oct 2020
  8. ^ "Selling a Car? Watch Out for Fake Heir-apparent Trying to Fob yous into Buying Questionable Vehicle History Report". Amend Business Bureau. April v, 2016. Archived from the original on xi June 2006. Retrieved 7 October 2020.
  9. ^ "BBB Alert: Vehicle championship scams". Better Business organisation Bureau. September 8, 2020. Retrieved 7 October 2020.
  10. ^ "What is a HPI Check?". HPICheck . Retrieved 7 October 2020.
  11. ^ "Parivahan Sewa - Ministry of Road Transport & Highways, Government of India". parivahan.gov.in . Retrieved 7 October 2020.
  12. ^ "Edmunds TMV - True Marketplace Value / Truthful Auto Value". Edmunds.com.
  13. ^ "Kelley Blueish Book - MSN Autos". Autos.msn.com. 2010-02-22. Archived from the original on 2011-08-10. Retrieved 2010-08-xv .
  14. ^ McKenzie, Richard B. (2008). Why Popcorn Costs So Much at the Movies: And Other Pricing Puzzles . Copernicus Books. pp. ix–31. ISBN9780387769998.
  15. ^ "Ownership and leasing a motorcar in another Eu country". Your Europe . Retrieved 2020-12-27 .

External links [edit]

  • Ontario Vehicle Information Package offers Ontario vehicle registration history
  • Saskatchewan Damage Claims History Search provides the status of the vehicle (if any) in Saskatchewan and its damage claims history in Saskatchewan since Jan. one, 1998.
  • Federal Trade Commission
  • Vincheck VIN checking in the U.Due south.
  • Rules about statutory warranties for selling used vehicles in Queensland: Department of Justice and Attorney-General

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Source: https://en.wikipedia.org/wiki/Used_car

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