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In the United States, direct manufacturer auto sales are prohibited in many states by franchise laws requiring that new cars be sold only by independent dealers. Tesla maintains that, to properly explain to their customers the advantages their cars have over "traditional" vehicles with an internal combustion engine, they cannot rely on third ...
A car dealership, or car dealer, is a business that sells new or used cars, at the retail level, based on a dealership contract with an automaker or its sales subsidiary. Car dealerships also often sell spare parts and automotive maintenance services .
Sales floor of a Maxwell & Briscoe dealership (1911) A Monroney sticker on window. Most car dealerships display their inventory in a showroom and on a car lot. Under U.S. federal law, all new cars must carry a sticker showing the offering price and summarizing the vehicle's features. [4]
If the owner defaults on the payments, the finance company has the legal right to repossess the vehicle. At the end of the agreement, the customer either pays the balloon payment and takes full ownership of the vehicle, or the vehicle is returned to the finance company without any further liability. [1]
Vehicle leasing is the leasing (or the use) of a motor vehicle for a fixed period of time at an agreed amount of money for the lease. It is commonly offered by dealers as an alternative to vehicle purchase but is widely used by businesses as a method of acquiring (or having the use of) vehicles for business, without the usually needed cash outlay.
In contract law, a contract of sale, sales contract, sales order, or contract for sale [1] is a legal contract for the purchase of assets (goods or property) by a buyer (or purchaser) from a seller (or vendor) for an agreed upon value in money (or money equivalent).
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Autotrader.com was founded in 1997. [2] It was derived from Auto Trader magazine, first published by Stu Arnold in 1973. [5] Freelance photographers would travel to the address of a customer to photograph their vehicle.