"previously owned by another," 1961, of motor vehicles, American English, from pre- + owned. A euphemism for used.
Entries linking to pre-owned
pre-
word-forming element meaning "before," from Old French pre- and Medieval Latin pre-, both from Latin prae (adverb and preposition) "before in time or place," from PIE *peri- (source also of Oscan prai, Umbrian pre, Sanskrit pare "thereupon," Greek parai "at," Gaulish are- "at, before," Lithuanian prie "at," Old Church Slavonic pri "at," Gothic faura, Old English fore "before"), extended form of root *per- (1) "forward," hence "beyond, in front of, before."
The Latin word was active in forming verbs. Also see prae-. Sometimes in Middle English muddled with words in pro- or per-.
owned adj.
"possessed," 1620s, past-participle adjective from own (v.).
used adj.
"second-hand," 1590s, past-participle adjective from use (v.). To be used to "accustomed, familiar" is recorded by late 14c. Verbal phrase used to "formerly did or was" (as in I used to love her) represents a construction attested from c. 1300, and common from c. 1400, from use (intransitive) "be accustomed, practice customarily," but now surviving only in past tense form. The pronunciation is affected by the t- of to. Used-to-be (n.) "one who has outlived his fame" is from 1853.