| A used car, also known as a pre-owned vehicle | | | | The used vehicle market is substantially larger |
| and second hand car, is a vehicle that has | | | | than other large retail sectors, such as theschool |
| previously had one or more owners. Used cars | | | | and office products market ($206 billion in |
| are sold through a variety of outlets, which include | | | | estimated annual sales) and the home |
| franchise and independent dealers, rental car | | | | improvement market ($291 billion in estimated |
| companies, leasing companies, and used car | | | | annual sales). |
| superstores. Some car retailers offer "no-haggle | | | | Used vehicle history reports |
| prices," and "certified" used cars, and extended | | | | An estimated 34-percent of consumers are |
| service plans or warranties. Individuals can also sell | | | | buying vehicle history reports for used cars |
| and purchase used cars through resources, such | | | | morefrequently, partially in reaction to the number |
| as newspaper and online classifieds. | | | | of vehicles that may have been damaged by |
| Used Cars Industry | | | | flooding during hurricanes. About 30-percent of |
| With annual sales of nearly $370 billion, the used | | | | manufacturer franchise dealers provide vehicle |
| vehicle industry represents almost halfof the U.S. | | | | history reports to customers at no additional cost. |
| auto retail market and is the largest retail | | | | In addition, some car retailers,such as CarMax and |
| segment of the economy. In 2005, about 44 | | | | online car classified advertisers, such as offer |
| million used cars were sold in the U.S., which is | | | | vehiclehistory reports for their inventory at no |
| more than double that of the nearly 17 million new | | | | charge to customers. |
| cars sold. | | | | |