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A certified pre-owned car or CPO [citation needed] is a type of used car.It is also used in references to guns and phones. The term "certified pre-owned was conceived by corporations [citation needed] in order to find a more favorable alternative to marketing products as 'used,' which causes purchasers to impose their cognitive biases associated with 'used' items onto prospective purchases.
A used car, a pre-owned vehicle, or a secondhand car, is a vehicle that has previously had one or more retail owners. Used cars are sold through a variety of outlets, including franchise and independent car dealers , rental car companies, buy here pay here dealerships, leasing offices, auctions, and private party sales.
Silverman advises that if you happen to be in the market for a used BMW turbocharged vehicle, model year 2007 to 2011 (the models with the defective fuel pumps), don't buy it until the seller ...
The dealer has the option of marking up the interest rate of the contract and retaining a portion of that markup. For example, a bank may give a wholesale money rate of 6.75% and the dealer may give the consumer an interest rate of 7.75%. The bank would then pay the dealer the difference or a portion thereof.
Additional revenues come from auto repair at the dealerships, financing, and insurance sales. [37] In 2013 Lithia was named No. 9 on Automotive News' list of the 125 largest U.S. dealership groups, with retail new-vehicle sales of 56,960 units in 2012. In used-vehicle sales it also ranks No. 9, with retail used-vehicle sales of 49,067 in 2012. [38]
The following year, Braman took on his first import brands with the purchase of BMW and Rolls-Royce dealership C.R. Berry Motors and moved both franchises next to his Miami Cadillac dealership. [7] By 1980, Braman had Cadillac, BMW, Rolls-Royce, Fiat , Lancia , and Toyota dealerships along the 2000 block of Biscayne Boulevard in Miami.