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Tuesday, January 21, 2014
Used Car Vocabulary - Check On This Before You Buy A Used Auto
First-time buyers of used cars have a lot of things 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 begin looking for this on the Internet, you would delight in the fact that there are indeed a lot of tips. However, you have to understand that for you to be able to use them fully, you should speak the same language as those in the market. In this case, you should look at the list of key terms and their meanings. To start with, you should get acquainted with the acronyms that you could come across with, once you start the buying process. Among these are: VIN, APR, SRV and CPO. VIN is short for vehicle identification number which every vehicle manufactured since 1982 would have. This consists of 17 characters that you can see on the dashboard and on vehicle titles. This is normally used to obtain used vehicle history report. APR or the annual percentage rate is the yearly percentage rate charged to borrow the money to purchase a used auto.
Another acronym, SRV, refers to suggested retail value or the amount the seller might ask a buyer to pay for a specific vehicle. Car valuation companies offer this information for free and you can obtain this from their websites. You need to get hold of this info prior to making negotiation with the seller. 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 go online and research some info about this type of used car. But in a nutshell, these pertain to used cars of the late model that have undergone inspection, repair and certification, either by the manufacturer or other certifying bodies. As such, they carry some form of warranty. As far as warranty is concerned, you should know a few terms like "as is," implied, manufacturer's warranty and extended warranty or service contract. "As is" is basically no warranty. Implied warranty, however, would indicate that the auto meets reasonable standards. Manufacturer's warranty is simply the warranty originally provided by the car maker. In the case of extended warranty, it is the prolonged warranty and is paid for during the car purchase. Whatever warranty the car carries, it should be one that has been agreed upon by both parties and is made clear in the contract.
Other terms you have to be familiar with, are those related to the condition of the car. These are excellent, good and fair. Excellent cars are those that do not only look great but also have excellent mechanical condition. Good condition in cars, means that they 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 some other terms that you should learn first before checking out Hertz Car Sales. By becoming well-versed with the language spoken by those in the used car market, you can deal with your car purchase better.
Another acronym, SRV, refers to suggested retail value or the amount the seller might ask a buyer to pay for a specific vehicle. Car valuation companies offer this information for free and you can obtain this from their websites. You need to get hold of this info prior to making negotiation with the seller. 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 go online and research some info about this type of used car. But in a nutshell, these pertain to used cars of the late model that have undergone inspection, repair and certification, either by the manufacturer or other certifying bodies. As such, they carry some form of warranty. As far as warranty is concerned, you should know a few terms like "as is," implied, manufacturer's warranty and extended warranty or service contract. "As is" is basically no warranty. Implied warranty, however, would indicate that the auto meets reasonable standards. Manufacturer's warranty is simply the warranty originally provided by the car maker. In the case of extended warranty, it is the prolonged warranty and is paid for during the car purchase. Whatever warranty the car carries, it should be one that has been agreed upon by both parties and is made clear in the contract.
Other terms you have to be familiar with, are those related to the condition of the car. These are excellent, good and fair. Excellent cars are those that do not only look great but also have excellent mechanical condition. Good condition in cars, means that they 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 some other terms that you should learn first before checking out Hertz Car Sales. By becoming well-versed with the language spoken by those in the used car market, you can deal with your car purchase better.
