Buying and Selling Used Cars
You can buy and sell used cars through the same dealer. Many dealerships deal with used cars and allow people to purchase used cars on finance. In 2013, an estimated 41 million used cars were sold in the United States. A used car is also known as a pre-owned vehicle, or a second hand car. It is a vehicle that has had one or more retail owners. You might wonder where can I buy used cars. You can buy and sell used cars through a variety of outlets, including franchise and auctions, leasing offices, independent car dealers, rental car companies, and private party sales. Some of the best cars to buy used are the ones that car retailers offer as “certified” used cars, and offer extended service plans or warranties.
Approximately 57% of all the cars sold are sedans or compact cars in the United States. For every new car sold, an estimated 3.3 used cars are sold in its place. People purchase an estimated 16 million new and used cars every year in the United States. In 2012, approximately 40.5 million used cars were sold, showing that you can buy and sell used cars just about anywhere.
People buy and sell used cars, even ones that are only a year or two old. Cars usually depreciate 20% to 30% during the first two years of ownership. In the United States, these cars that are one to two years older than the newest model are cheaper in price due to depreciation. Once new cars are driven off the dealer lot, the high depreciation rate causes used cars that are only a few years old to be much less expensive. Since people buy and sell used cars, as well as buying new cars, today in the United States, there are an estimated 300 million cars on the road.
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