This dissertation presents a simple theory for a used car market with asymmetric information and tests the theory using Tobit model and OLS. The novel contribution of the dissertation is that a consumer not only has a choice of buying or leasing a new car, but also can choose to buy a used car...

This paper tests the hypothesis that there is no difference in the average maintenance expenditures required for cars acquired used and those acquired new. The results showed no evidence that cars acquired used required more maintenance expenditures than those of a similar age acquired new.