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Used Cars
- While you may be able
to obtain a used car more cheaply by purchasing from a private seller,
remember that, here in the United Kingdom, you will not have the same consumer rights that you
have when buying from a dealer.
- A sufficient number of
used cars have a 'dodgy' history to make it worthwhile
thinking about getting a car data check through an organisation such as
The AA.
For a relatively modest fee you could find out whether there are any known
identity, ownership, insurance or finance problems associated with the vehicle.
In some instances, it can also be possible to obtain mileage data.
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Unless you or a friend
are competent to carry out a mechanical inspection of a used car,
consider having it checked over by a motoring organisation or
reputable local garage. While relatively expensive, this could
save you money further down the line. (Some organisations
offer a combined technical inspection and car data check which
can work out cheaper than buying them separately.)
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Get a rough idea of
the price you would expect to pay for a used car by consulting a
reputable price guide such as Parker's.
- Buying from a dealer? Be aware of the various ways in which they could increase the purchase price by convincing you to purchase unnecessary extras. Although aimed at the US market, http://www.buycartips.com/ contains some advice that you may find useful when negotiating to buy a new or used car.
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APR
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Annual Percentage Rate.
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Cut and Shut
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Two or more parts of
separate cars that have been joined together to make a single
car. For example, the front of one car joined to the rear
of another.
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DVLA
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Driver and Vehicle Licencing Agency.
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MGFV
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Minimum Guaranteed Future Value.
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MOT
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Historically 'Ministry of
Transport'. Now used to describe the scheme for the
statutory testing of vehicles. The purpose of the MOT Test
is to ensure that cars, other light vehicles (including some
light goods vehicles), private buses and motorcycles over a
prescribed age are checked at least once a year to see that they
comply with key roadworthiness and environmental requirements
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PCP
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Personal Contract Purchase.
A method of acquiring the use of a car for a fixed term, usually
by paying in monthly instalments. At the end of the term
the car can either be purchased for the MGFV or returned to the
dealer.
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Ringer
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The identity of one car
taken on by another.
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VIN
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Vehicle Identification
Number.
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Write-Off
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A car that has suffered severe accident damage making it unroadworthy.
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