used-car lot vs parking area

used-car lot and parking area both are nouns.

Word	Noun	Adjective	Verb	Adverb
used-car lot	Yes	No	No	No
parking area	Yes	No	No	No

As nouns, parking area is a hypernym of used-car lot; that is, parking area is a word with a broader meaning than used-car lot:

used-car lot: a parking lot where a dealer in used-cars displays cars for sale
parking area: a lot where cars are parked

Other hypernyms of used-car lot include car park, park, parking lot.

used-car lot (noun)	parking area (noun)
a parking lot where a dealer in used-cars displays cars for sale	a lot where cars are parked