A used car, also known as a pre-owned vehicle and second hand car, is a vehicle that
has previously had one or more owners. Used cars are sold through a variety
of outlets, which include franchise and independent dealers, rental car companies,
leasing companies, and used car superstores. Some car retailers offer "no-haggle
prices," and "certified" used cars, and extended service plans or warranties.
Individuals can also sell and purchase used cars through resources, such
as newspaper and online classifieds.
An estimated 34-percent of consumers
are buying vehicle history reports for used cars more frequently, partially
in reaction to the number of vehicles that may have been damaged by flooding
during hurricanes. Vehicle history reports also help consumers avoid various types
of auto fraud, such as odometer fraud. About 30-percent of manufacturer franchise
dealers provide vehicle history reports to customers at no additional cost.
In addition, some car retailers, such as CarMax, offer vehicle history reports
for their inventory at no charge to customers. Consumers can also purchase
vehicle history reports online through companies like AutoCheck and Carfax.com.
Consumers are increasingly researching, selecting and purchasing
used vehicles online. Nearly a quarter of used-auto shoppers (22-percent) bought
a vehicle found online, meaning that they selected the car online but then had
to meet with the dealer or seller in person to finalize paperwork and pick up
the car. |
