Used Car Vocabulary – Check On This Before You Buy A Used Auto

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 given the many risks associated with purchasing a used car, it makes sense that you understand the ins and outs of the process. When you scour the Web for this, you will be delighted to find out a plethora 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, you should check on this list of key terms and their meanings. To begin with, you should be familiar with the acronyms that you are likely to encounter as you begin the buying process. Among these are: VIN, APR, SRV and CPO. VIN is the vehicle identification number that all the vehicles built since 1982 would have. It is a group of 17 characters that appear on the dashboard and on other car documents. It is used to obtain used vehicle history report. APR is short for annual percentage rate, the interest rate charged on a loan per year.

Another acronym, SRV, is short for suggested retail value or the price a seller might charge for a particular auto. 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. Other than this, one more acronym that has become part and parcel of the moder car buyers’ lingo is the CPO, also known as certified pre-owned cars. You can go online and research some info about this type of used car. But in a nutshell, they are used cars of the late-model that have been inspected, repaired and certified by the manufacturer or other certifying bodies. Thus, they usually come with warranty.

With regards to warranty, a few terms like “as is,” implied, manufacturer’s warranty and extended warranty or service contract, are worth knowing. When you see “as is,” it only means no warranty. Implied warranty, however, would indicate that the auto meets reasonable standards. Manufacturer’s warranty, as the name suggests, is the warranty that cars originally got from their maker. In the case of extended warranty, it is the prolonged warranty and is paid for during the car purchase. Regardless of what warranty the used car carries, you should make sure it is the one agreed upon and that it is indicated in the contract.

Other key terms you should have a working knowledge on, pertain to the condition of the vehicles. Among 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. Vehicles rated as good are those with only minor defects.

Fair cars have some mechanical and cosmetic defects but are still in good running condition. This follows that they need some repairs done. There are other words that you might find the need to understand before you visit Hertz Car Sales. When you know the words spoken by everyone in the used car market, you can easily deal with the car purchase.

If you want to know more about cars and the like, then try searching at for more details.

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