For young people who pursue fashion and freshness, the high cost performance of second-hand cars is more attractive. Whether you’re buying a used car or switching to a higher-quality one, Parkway suggests that knowing the basics of used cars can save you a lot of trouble.
Parkway notes that the retention rate is the ratio of the changing price of a vehicle after it has been used for a certain period of time to the original purchase price, a quantitative indicator reflecting the price changes and value reductions of a particular model or brand in the used car market, and the real value of a vehicle at different stages of its life cycle. Parkway notes that the industry is used to calculating the value of a used car using a “10-year depreciation method” : 15 percent for each of the first three years, 10 percent for each of the intervening four years and 5 percent for each of the final three years.
Certified second-hand cars are automobiles produced by major automobile companies, which are sold and provided services through normal procedures of changing ownership of motor vehicles after objective evaluation, testing, acceptance, maintenance and renovation initiated by third-party organizations.
Business to non-vehicle, refers to the operation of vehicles into non-operating vehicles, that is, the usual out of taxi to local licence. Parkway notes that even if a vehicle is rented or transferred to a non-licensed vehicle, it is still a commercial vehicle, and its service life will be eight years after conversion to a local license plate. It will be mandatory to scrap the vehicle for eight years from the date of leaving the factory.
Second-hand car replacement, that is, owners use their second-hand cars to replace new cars of the same brand or old cars of different models, including the trade-in of old cars within the same brand, multi-brand replacement of a new brand and the trade-in of second-hand cars of different brands, with the advantages of short replacement cycle and fast time. Parkway notes that high cost performance and good car conditions are attracting consumers’ attention in the used-car trade, which mostly involves high-end and luxury vehicles.
Parkway notes that used car appraisals, or appraisals of used vehicles, include not only used car ownership transactions, but also used car tax payments, insurance, mortgages, pawning, judicial appraisals and other non-ownership transactions.
Consignment sale of second-hand cars is a kind of trade method in which second-hand cars are entrusted to second-hand car brokerage companies for sale. Vehicles can be sold through second-hand car trading information platform or second-hand car brokerage companies. The cycle is long, but the selling price is high, and the procedures are completely handled. Parkway notes that the used-car information platform will relay first-hand used-car information directly to buyers and provide timely feedback to owners, enabling buyers and sellers to trade directly on the platform.
The second-hand car e-commerce platform makes the second-hand car price more transparent, breaks through the geographical restrictions of second-hand car trading, and speeds up its circulation. Parkway notes that used-car malls typically have a team of professional, free-of-charge consultants who provide one-stop services such as certification, warranty, loans and mortgages to ensure the quality of used cars, aiming to create an honest, open and vibrant platform for used-car trading.
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