A used car, also known as a pre-owned vehicle and second hand car, is a vehicle that has previously had one or more owners. Used cars are sold through franchise and independent dealers, rental car companies, leasing companies, auctions and private party sales.

Almost every used car sale is an "as-is" sale. What you see is what you get so a used car buyer should do all their research before buying a vehicle. Some countries or states/provinces within those countries have specific laws which grant the used car buyer some additional protection. For example, the law may provide for a cooling off period in which the buyer may return the car or the law may require warranties on the used car.

• Canada
  • Ontario - New and used vehicle sales are regulated by the Ontario Motor Vehicle Industry Council (OMVIC).
• European Union - Used cars have a statutory warranty according to the system of laws of the European Union, the so-called "Liability for defects", which lasts for 12 months.
• United States - The Federal Trade Commission's Used Car Rule^[1] requires dealers to post a Buyers Guide in every used car they offer for sale.
  • California Car Buyer's Bill of Rights
  • Minnesota Car Buyer’s Bill of Rights

In the United States, an estimated 34-percent of consumers (in 2006) are buying vehicle history reports for used cars.^[2] Vehicle history reports are an inexpensive way to check the track record of any used vehicle. Vehicle history reports provide customers with a detailed record of the repairs, potential Odometer fraud, accidents and recall data within the lifetime of a used vehicle.

Vehicle History Reports are available in the following countries.

• Australia - Checkitout
• Canada - CarProof, Carfax
• Italy - Autocheck
• New Zealand - AA Lemoncheck
• United Kingdom - Autocheck, HPI; Mycarcheck
• United States - Autocheck, Carfax

The above is not a list of where to buy or obtain a report as there are many resellers of these reports. This list identifies in which countries reports are available and the primary provider where you can learn what type of data is available in each country.

An often overlooked avenue is for sellers of cars. The seller, particularly the original owner should have service and repair records - great information to show the value and remove doubt in the mind of potential buyers.^[3] Services like DriverSide in the United States and DriveArchive in the United Kingdom are trying to create tools to help car owners track this service information.

When researching used car prices, you'll typically find three kinds of prices:

• Dealer or Retail Price is the price you should expect to pay if buying from a licensed new-car or used-car dealer — retail price. Dealer prices will always be the highest listed because of the dealership’s need to make a profit.
• Dealer Trade-in Price or wholesale price is the price you should expect to receive from a dealer if you trade in a car. This is also the price that a dealer will typically pay for a car at a dealer wholesale auction.
• Private-Party Price is the price you should expect to pay if you were buying from an individual. A private-party seller is hoping to get more money than they would with a trade-in to a dealer. A private-party buyer is hoping to pay less than the dealer retail price.

The growth of the Internet has fueled the availability of information on the prices of used cars. Whereas this information was once only available in trade publications that dealers had access to, there are now numerous sources for used car pricing. Multiple sources of used car pricing means that the prices you get from different sources often won't agree with each other. This is a result of each pricing guide receiving data from different sources and making different judgments about that data. The best way to determine a price is to cross-check prices with multiple sources and add a dose of your own good judgment to arrive at your price.

Pricing of used cars can be effected by geography; generally a convertible has a much higher demand in Florida than in New Hampshire. Similarly, pickups are often more in demand in rural than urban settings. Condition – Is the car in excellent, good or fair condition – has a major impact on pricing. Condition is based on appearances, vehicle history, mechanical condition and mileage. There is much subjectivity in how the condition of a car is evaluated. ^[4]

United States

• Black Book provides daily updates to their used car pricing. The information is available on a subscription basis only.
• DriverSide provides data through its “Driverside Estimate” based on a search of listings to find what cars are actually selling for, in a local market. Consumers can obtain this information for free on the Driverside web site.
• Edmunds provides data through its "True Market Value" pricing tools. The Edmunds.com True Market Value Used Vehicle appraiser estimates the actual transaction prices for used vehicles bought and sold by dealers and private parties. Consumers can obtain this information for free on the Edmunds web site.
• Galves has been reporting market value prices for used car since 1957. Galves updates their prcing guides on a weekly basis. The information is available on a subscription basis only and daily and weekly subscriptions are available.
• Kelley Blue Book reports market value prices for used cars. It obtains retail pricing by collecting information about actual retail sales. ^[5] Consumers can obtain this information for free on the Kelley Blue Book web site.
• NADA reports on values for used cars. Nadaguides is a for profit affiliate of the National Automotive Dealers Association (NADA). Consumers can obtain this information for free on the nadaguides web site.

United Kingdom

• Glass's has been providing used car valuations since 1933. Consumers can purchase a used car valuation from Glass's web site.
• WiseBuyer's Guide reports on values for used cars. Consumers can obtain valuations for free on the WiseBuyer's web site.

Canada

• Canadian Black Bookprovides information on a subscription basis. Canadian Black Book Trade-In values are also offered through a number of vehicle manufacturer's web sites.
• VMR Auto Guides reports on values for used cars. Consumers can obtain valuations for free on the VMR web site.