a euphemism for those who do not like the term 'second-hand'.
He has a pre-owned car. He has just bought it from his friend.
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In computer gaming, being pre-owned is being given the fact that no matter what, yo' ass is gonna get sacked.
Dude, I pre-own you in cs, don't even try
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Noun- Good pussy that has had a previous owner, but is still high quality, luxury grade pussy.
Tom - How's Lisa treating you?
Will - She is very fine man
Tom - You know she's not a virgin right?
Will - Yeah, but that girl has Lexus Certified Pre-Owned Pussy.
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A certified pre-owned child is a step child
Person a: Hey, I didn't know you had kids?
Person b: Hey
Yeah, this is my certified pre-owned child from my new marriage