The types of car auctions in the market are virtually limitless, with most selling to used car dealers, not individual buyers. But be careful not to let the excitement of bidding make you pay more than a car is worth.

Financial options can be availed while buying used cars as well. There are many financial institutions that offer low-interest and small amount of down payment.

Annual mileage is a set amount of miles specified on a car leasing agreement. For each year of the agreement, a maximum amount of miles that the car can drive is set and should not be exceeded. This limit is decided when the agreement is taken out by both the lender and the customer.