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Buying a car at auction requires a whole new set of rules and things to watch out for, whether it's a government or law-enforcement auction or one with vintage and high-end cars meant for collectors.
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]
Headquartered in Dallas, Texas, Copart has more than 200 physical locations around the world, where it houses more than 10,000 acres of vehicle inventory. Copart sells used, wholesale and repairable vehicles in weekly and bi-weekly online auctions to buyers ranging from consumers to automotive businesses around the world.
Buying a used car from a private seller may be more complicated than purchasing a certified pre-owned used vehicle from a dealership. Although both methods require a bit of research, buying from a ...
In the used car market in the United States and Canada, buy here, pay here, often abbreviated as BHPH, refers to a method of running an automobile dealership in which dealers themselves extend credit to purchasers of automobiles. [1] Typically, purchasers of cars at BHPH dealerships have poor credit history, and loans have high interest rates. [1]
The price a dealer agrees to sell you a vehicle at often isn't the price you end up paying. That's because many dealerships charge fees when selling new or used cars that they tack on to the ...
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