Replacement parts come in three categories – genuine, Original Equipment Manufacturer (OEM) and aftermarket.
The Genuine Part
A genuine part is the one that was on your vehicle when it was manufactured and as it rolled off the production line.
Therefore, a genuine replacement part will carry the manufacturer's label, come in the manufacturer's packaging and more often than not cost more because of its genuine status.
As much as car purists or owners of new cars may prefer genuine parts, today many manufacturers are moving away from such bespoke production.
Instead, external companies are increasingly being contracted to make parts under the manufacturer's design and technical specifications.
OEM Parts
Original Equipment Manufacturer parts are made by companies that initially did the job for the vehicle manufacturer.
In the case of OEM replacement parts, these won't carry the manufacturer's branding and they generally come in unprepossessing brown cardboard packaging – however, don't assume this is a reflection of compromised quality.
Furthermore, because OEM parts are produced for specific makes and models, you know they are going to fit your specific make and model.
That's a comforting thought, and here's another one – OEM parts are generally cheaper than genuine parts.
Aftermarket Parts
Here's your best money-saving option, although there are a number of points to consider.
Aftermarket parts are made by companies other than the vehicle manufacturer and, as a result, may look different to genuine or OEM parts.
In some cases, they may be the better replacement option, especially if the maker has identified an opportunity to improve aspects of the original, thereby producing a part that is more durable, reliable and doesn't break the bank.
The counter to this may be some differences in performance, such as extra noise or vibration.
