Independent Used Car Dealer

Understanding the used car industry involves familiarizing oneself with its common practices and jargon, which can vary by region. The industry is primarily divided into two segments: new car dealers who trade in or purchase used cars and then resell them through various channels, including wholesalers and auctions. This knowledge is essential for effectively navigating the industry and is further elaborated in the Audit Technique Guide, which includes a glossary of key terms to aid comprehension.