What does aftermarket mean

Apply market research to generate audience insights. Measure content performance. Develop and improve products. List of Partners vendors. Aftermarket parts are replacement parts that are not made by the original equipment manufacturer. Aftermarket parts are used to replace damaged parts in automobiles and other equipment, but their use may alter the coverage of an insured item. They are similar to generic pharmaceuticals in that they are cheaper than brand name medication, but are likely to have similar effectiveness.

This association is the gold standard for aftermarket parts when it comes to safety due to its rigorous high standards and quality testing. Repairing a damaged vehicle can be expensive, and motorists may request aftermarket parts to be used whenever possible because they tend to be less expensive than parts made by an original equipment manufacturer OEM.

Depending on the language of the auto policy, allowing the repair shop to use aftermarket parts instead of OEM parts may allow the insurer to alter the policy's coverage going forward. When purchasing a new insurance policy or reviewing an existing one, aftermarket coverage is usually found in the custom parts and equipment provision. This part of the policy provides coverage for damage to aftermarket parts, though the coverage may have relatively low limits.

In some cases, the insured may wish to purchase additional coverage on aftermarket parts, especially if upgrades were made to the vehicle that was not installed by the vehicle manufacturer.

The issue isn't whether high-quality aftermarket parts exist or are never the best option. Sometimes, they may actually be the only option. If a car is older, aftermarket parts may be the only choice for some repairs. While the quality of some aftermarket parts may be questionable, most parts are equal to, if not better than, OEM parts and are usually more readily available than OEM parts.

An argument often made against the use of aftermarket parts in repairs is that they can void warranties. However, the Magnuson-Moss Act, which governs warranty language, prohibits "tie-in sales," meaning using language to explicitly prescribe the use of a company's product. For example, a manufacturer cannot force a consumer to use their product by using the threat of a voided warranty.

It also applies only to consumer products that are used for personal purposes or by families and households. The amount of money that an insured driver may expect to receive for repairs to aftermarket parts and other upgrades depends on the insurer's replacement schedule. In many situations, the insurer will depreciate the original value of the aftermarket parts according to a formula, and will only cover the value that remains.

The formula used by the insurer calculates the actual cash value of the parts. If a claims adjuster determines that the vehicle is totaled, then the insured will only pay for the value of the insured loss. This typically does not include the loss of the upgrades. The manufacturer provided an aftermarket shield to help prevent these items from puncturing the tank during impact.

However, a few convertibles exist, as a result of aftermarket conversions carried out by specialist companies after purchase. Various aftermarket solutions exist all of which require replacing the intake headers or manifold. Once the vehicle leaves the assembly line, the factory option can no longer be integrated into the roof, making aftermarket the only option.

Out of print items are often pursued by collectors through aftermarket retailers such as used book stores, record shops, and online auction sites. Some countries may have parallel importation restrictions that allow the copyright holder to control the aftermarket. See all examples of aftermarket. These examples are from corpora and from sources on the web.

Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. What is the pronunciation of aftermarket? Browse afterdamp BETA. Test your vocabulary with our fun image quizzes. Image credits. Word of the Day have a heart of gold. Blog Outsets and onsets! Read More. November 08, To top.

Business Examples. We've been a really, really strong takeover target now for the thirteen years I've been at Meggitt, lots of people want to be aerospace, lots of people want to have strong aftermarket positions. It's no surprise that the odd rumour pops up.

Chief Executive Greg Hayes :. Boeing got its pound of flesh from partnering for success a couple of years ago on the , we have been very guarded in terms of giving aftermarket away because We have seen aircraft retirements last year slow down as fuel prices have slowed down, what that means is they are flying the older planes longer.

They aren't as anxious perhaps to take some of the new, more expensive equipment and as a result, it's probably good news for us in the aftermarket for a bit here as long as oil prices stay low. Most companies offer a choice to consumer. Any sort of aftermarket part that you might hear about are usually cosmetic parts, so they're nothing related to the safety, the mechanical parts of the operation of the vehicle.

In many cases these parts are no different. They're made in the same factories. One just comes out with an auto manufacturer's name on it. The new way can be faster, especially with some aftermarket attachments made to break open the receivers more quickly. We're doing our best to make sure our content is useful, accurate and safe. If by any chance you spot an inappropriate comment while navigating through our website please use this form to let us know, and we'll take care of it shortly.

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Word in Definition. Wiktionary 0. Freebase 5. How to pronounce aftermarket? Alex US English. David US English.