If you are in the used car market, for the first time, you would be overwhelmed with a lot of things that you need to learn. But taking into consideration the risks that come with making a used car purchase, you should know find it necessary to learn abut the ins and outs in the market. When you search online for this, you can take pleasure from the fact that there are a lot of tips. However, you should know that to be able to maximize them, you have to become familiar with the lingo in the market.
In that, you should check on this for the widely-used terms and their definitions. To start with, you should get acquainted with the acronyms that you could come across with, once you start the buying process. These include: VIN, APR, SRV and CPO. VIN is the vehicle identification number that all the vehicles built since 1982 would have. It is a 17-character identifier that you can find on the dashboard and on other pertinent documents. It is usually the information required in getting used vehicle history report. APR stands for annual percentage rate, which refers to the yearly interest rate on a loan.
Another acronym, SRV, refers to suggested retail value or the amount the seller might ask a buyer to pay for a specific vehicle. This can be obtained for free from a couple of popular online resources which are also car valuation companies. You should have this info handy before you start negotiating for your car purchase. Aside from this, another acronym that has become an integral part of every used car buyer's vocabulary is CPO or certified pre-owned cars. You can research some info about the said type of used vehicle online. But basically, these are used cars of the late model that have been inspected, refurbished and certified by car makers or other certifying bodies. Hence, they have warranty.
When it comes to warranty, you will also come across terms like "as is," implied, manufacturer's warranty and extended warranty or service contract. When you see "as is," it only means no warranty. Implied warranty, on the other hand, denotes that the car has met reasonable standards. Manufacturer's warranty is, as the name implies, the original warranty from the manufacturer. With regards to extended warranty, it is the prolonged from of warranty that is being paid by the buyer. Regardless of what warranty the car has, it should be the type that has been agreed upon by the buyer and seller and is stipulated in the contract.
Other words you should get acquainted with, are those that refer to the condition of the auto. These are excellent, good and fair. Excellent cars look great and have excellent mechanical condition. Cars in good condition are those vehicles, which only have minor defects.
Fair cars are those with some mechanical and cosmetic problems but still in good running condition. This means that this vehicle might require some repair. There are other words that you might find the need to understand before you visit Hertz Car Sales. When you become adept in the lingo used in the market, you can approach the car buying process better.
In that, you should check on this for the widely-used terms and their definitions. To start with, you should get acquainted with the acronyms that you could come across with, once you start the buying process. These include: VIN, APR, SRV and CPO. VIN is the vehicle identification number that all the vehicles built since 1982 would have. It is a 17-character identifier that you can find on the dashboard and on other pertinent documents. It is usually the information required in getting used vehicle history report. APR stands for annual percentage rate, which refers to the yearly interest rate on a loan.
Another acronym, SRV, refers to suggested retail value or the amount the seller might ask a buyer to pay for a specific vehicle. This can be obtained for free from a couple of popular online resources which are also car valuation companies. You should have this info handy before you start negotiating for your car purchase. Aside from this, another acronym that has become an integral part of every used car buyer's vocabulary is CPO or certified pre-owned cars. You can research some info about the said type of used vehicle online. But basically, these are used cars of the late model that have been inspected, refurbished and certified by car makers or other certifying bodies. Hence, they have warranty.
When it comes to warranty, you will also come across terms like "as is," implied, manufacturer's warranty and extended warranty or service contract. When you see "as is," it only means no warranty. Implied warranty, on the other hand, denotes that the car has met reasonable standards. Manufacturer's warranty is, as the name implies, the original warranty from the manufacturer. With regards to extended warranty, it is the prolonged from of warranty that is being paid by the buyer. Regardless of what warranty the car has, it should be the type that has been agreed upon by the buyer and seller and is stipulated in the contract.
Other words you should get acquainted with, are those that refer to the condition of the auto. These are excellent, good and fair. Excellent cars look great and have excellent mechanical condition. Cars in good condition are those vehicles, which only have minor defects.
Fair cars are those with some mechanical and cosmetic problems but still in good running condition. This means that this vehicle might require some repair. There are other words that you might find the need to understand before you visit Hertz Car Sales. When you become adept in the lingo used in the market, you can approach the car buying process better.
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