They then use the stream of income from customers' repayments to secure debt from the capital market, even as they discount their new cars and weaken second-hand values.

ECONOMIST: Detroit's nine lives

There are enough new cars (or at least second-hand ones imported from Japan) to gridlock Kingston's rush-hour traffic.

ECONOMIST: The Caribbean��s tarnished jewel

Most end up, say the police, either stripped for their parts or given new identities and sold on the second-hand market.

ECONOMIST: Car theft

So clothing is a bad money, since no one places the same value on second-hand clothes as new ones.

ECONOMIST: Free exchange

In the dress-making department and shop, new cloth-ing (using also Tanzanian material) is produced and sold, and second-hand clothing is mended and refashioned.

UNESCO: Background

Domestic producers have found it hard to compete, first with imported second-hand cars and more recently with new imports and foreign brands made in Russia.

ECONOMIST: Cars in Russia

"Just as Wales took a bold step in creating smoke-free environments in public places, we have recognised that the time is right to champion new approaches to further protect children from the harms of second-hand smoke, " the minister said.

BBC: A playground

But most second-hand cars are not registered to their new owners.

ECONOMIST: Should Indonesia move its capital city?

To protect the company from the danger that cheap new computers will squeeze the margin on refurbished ones, Mr McKie is developing direct sales of more powerful second-hand machines to non-profit bodies, such as charities and schools, and to individuals.

ECONOMIST: The pygmy problem

Extraordinarily, although raising money to buy second-hand ships is proving hard, shipping lines still seem to have little trouble arranging finance for new ones.

ECONOMIST: Shipping