Used car

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. Some car retailers offer "no-haggle" prices, "certified" used cars, and extended service plans or warranties.

Depreciation levels of vehicles differ a lot in exporting and importing countries due to differences in income levels. The price of a vehicle depreciates faster in high-income countries than in low-income countries. Used vehicles sellers in high-income countries can thus sell their used vehicles for a higher price in low-income countries. This is the incentive to export used vehicles.

The major car exporting countries (which includes both new and used vehicles) are Japan, the EU, USA, and Canada.

In the EU, 60% of used cars are marketed in other EU countries. The used car exports in the EU are focused on East Europe, the Caucasus, Central Asia, and Africa.

In the US, used vehicle exports are focused on Mexico, Nigeria, and Benin.

The African continent gets 90% of its imports from Europe. Many of these cars would not meet European emission standards.

Established in 1898, the Empire State Motor Wagon Company in Catskill, New York was one of the first American used car lots.

The used vehicle market is substantially larger than other large retail sectors, such as the school and office products market (US$206 billion in estimated annual sales) and the home improvement market (US$291 billion in estimated annual sales).^{[citation needed]}