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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.
During the 1973 oil crisis (when prices of exotic cars plummeted rapidly), almost new and top-of-range models frequented in used car lots, a Lamborghini Miura could be bought for $15,000 at the time. [31]
The ads were tiny but effective; they showed a midget car and some earlier ads contained the phrase "500 lb. car for $500.00". The ads brought in a steady stream of interested customers. Some of the magazines featured articles about the car and several pictured the car on their front cover.
A commonly required liability insurance is $25,000/$50,000/$25,000. Here's how it breaks down: $25,000/$50,000 for personal injury (PI) liability.
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