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Monday, April 07, 2014
Aside from this are other popular acronyms you would come across with, like VIN, MSRP, SRV and APR. VIN stands for vehicle identification number which is composed of 17 characters that differ from one car to another. When you decode each character, you would learn a thing or two about the car like its country of origin, which can help you learn more about the auto you are buying. The VIN is the primary info you need when requesting for the used vehicle history. MSRP, on the other hand, refers the manufacturer's suggested retail price. This pertains to the actual price tagged on a new car that you should know if you want to check if the used car prices are reasonable or not. You can get the details about MSRP online. Another acronym you can likely come across with is SRV or suggested retail value. This reflects that amount that KBB, a car valuation company, recommends for the price of a car, after taking into consideration aspects and features of the vehicle. Another acronym, the APR or the annual percentage rate, is the annual interest rate that the dealer or the financial institution would charge you if you borrow money for the car purchase. This is a figure that you should take a close look at when it comes to car financing.
These are just some of the terms you have to understand well when you talk about used car purchases. If you want to find out more, you can check the Internet. Like searching for details about Hertz and other car sellers, this is a convenient way of becoming informed. Invest time in this and look forward to making smart decisions when you buy a car.