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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.
Most car dealerships do not pay cash for the vehicles they buy at auto auctions. [23] They rely on inventory financing, a line of credit extended by a bank or other institution to acquire vehicles. [24] This is known in industry parlance as floorplanning (floor planning) or simply "flooring" vehicle inventory. [25]
The advantage to the dealership of having an RFC finance was decreased risk on the sale and finance of the vehicles sold. Since both the RFC and the dealership had the same ownership, the owners could benefit from the profit on the sale of the vehicle and the profit on the loan for the vehicle. Historically, the down payment required on a BHPH ...
Wholesale used vehicle prices decreased by a record 4.2% in June from the previous month, according to Manheim Market Insights. The Manheim Used Vehicle Value Index, a closely watched measure of ...
On May 5, 2022, in a secret auction at the brand's museum in Germany, Mercedes-Benz sold one of just two 1955 300 SLR Uhlenhaut coupes from its extensive collection of historical automobiles—which dates back to the earliest days of the car in the late 19th century. The sale, to a private buyer, was for 135 million euros ($142,769,250).
Infiniti QX80. 2025 price increase: 11% The cost of the Infiniti QX80 Luxe model will rise 20%. Toting your family, the sports team and other passengers around in the 2024 version makes better ...
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