First-time buyers of used cars have a lot of things to learn. But considering that making a used car purchase can be risky, you would be compelled to know 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 this case, it would help to check on this list of common terms and their definitions. To begin with, you should be familiar with the acronyms that you are likely to encounter as you begin the buying process. 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. 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, is short for suggested retail value or the price a seller might charge for a particular auto. This information is free and can be requested for from a couple of online resources that car valuation companies maintain. You need to obtain this info before you think of negotiating with the car seller. Apart from this, one more acronym that has been integrated in the used car buyers' vocabulary is CPO, short for certified pre-owned. You can research some info about the said type of used vehicle online. 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. 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, however, would indicate that the auto meets reasonable standards. Manufacturer's warranty is, as the name implies, the original warranty from the manufacturer. As for extended warranty, it is a form of prolonged warranty that the buyer pays for. 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. Cars that are in excellent condition are those that have almost impeccable quality in terms of the exterior and interior parts of the car. Cars in good condition are those vehicles, which only have minor defects.
Fair cars have some mechanical and cosmetic defects but are 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 this case, it would help to check on this list of common terms and their definitions. To begin with, you should be familiar with the acronyms that you are likely to encounter as you begin the buying process. 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. 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, is short for suggested retail value or the price a seller might charge for a particular auto. This information is free and can be requested for from a couple of online resources that car valuation companies maintain. You need to obtain this info before you think of negotiating with the car seller. Apart from this, one more acronym that has been integrated in the used car buyers' vocabulary is CPO, short for certified pre-owned. You can research some info about the said type of used vehicle online. 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. 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, however, would indicate that the auto meets reasonable standards. Manufacturer's warranty is, as the name implies, the original warranty from the manufacturer. As for extended warranty, it is a form of prolonged warranty that the buyer pays for. 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. Cars that are in excellent condition are those that have almost impeccable quality in terms of the exterior and interior parts of the car. Cars in good condition are those vehicles, which only have minor defects.
Fair cars have some mechanical and cosmetic defects but are 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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