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Popular Terms for Wholesale Used Car Automobile Dealers
If you have never communicated with a wholesale company that sells used automobiles and other vehicles to dealerships, then you might find that you don’t know all of the words that they use. The following list of key terms, however, should make it easier for you to communicate with the wholesale companies that you contact. That way, you have a better chance of getting the best deals on the used vehicles that you want.
Private Party Price – The price of a car that is established between a buyer and a seller. One buyer could get a substantial lower, or higher, private party price depending on her ability to negotiate.
Antique – You won’t find a steady definition for antique in the car world. Many state governments have cheaper tax rates for antique vehicles, but the qualifying ages can vary significantly. According to the Antique Automobile Club of America, antique cars should be at least 45 years old, but a dealer doesn’t necessarily have to follow that definition.
Veteran Era Car – Any automobile that was made before 1890. These are the oldest motor vehicles that you can find. Not many dealers have these available.
Brass Era Car – A car, truck, or similar vehicle that was made between 1890 and 1918.
Antique Era Car – The Antique Era includes any automobile manufactured before 1920. It includes Brass Era and Veteran Era cars.
Classic Car – Some people use this phrase to mean any vehicle that’s over 25 years old. According to the Classic Car Club of America, however, classic cars were manufactured between 1925 and 1948. Make sure you know how your broker defines this term before agreeing to any contractual obligations.
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Most people would agree that in today’s world an automobile is a necessity. While some bigger cities, such as New York, are convenient for walkers, in many places people cannot get around without a sedan, truck, SUV, or van. The first self-propelled vehicle was a steam-powered tricycle developed by Nicolas-Joseph Cugnot around 1769. From this invention, advancements continued until affordable, gas-powered vehicles were produced at the Oldsmobile factory in 1902. It was then that a car became less of a luxury item and more for the common man.
These antique models are often restored nowadays by enthusiasts to like-new condition. While classic cars are quite collectible, most drivers prefer to buy a modern auto. There are several options for those interested in buying a new set of wheels. You can get a loan, which will cover the cost of the purchase and charge you interest. You can also lease a vehicle for a set period of time. Dealerships can be found all over America, selling both new and used cars. Their inventory is made up of vehicles they bought at wholesale. To make a profit, they add additional fees on top of the wholesale price they paid. Many allow you to trade in old wheels for a discount. Some work with finance brokers to help individuals arrange payment options. Smaller dealers require the complete payment upfront.
If you are looking for a cheaper option, try police auctions or the “for sale” listings in your local newspaper. The secondhand rides available through these alternative avenues will be less expensive, but it is important to test drive and check thoroughly for technical problems. Faulty parts can make certain used cars a poor investment. When considering such a large purchase, keep in mind the related expenses, like upkeep and insurance.