Today I replaced the passenger side CV axle of my 1994 Camry LE 4 Cyl. The package of the CV axle was saying 'remanufactured'. Should I assume that it was not new?
They change the boot and make sure joints are within tolerances and maybe remove some rust and maybe spray or rust treat them.
They are not new but recycled and or refurbished to a "new" like state.
I don't believe remanufactured has a legal definition in most states. It is important that you know the company that rebuilds the part. If possible check their web site or literature for specifics. Most of the large reputable rebuilders will state what they replace, what they inspect and what they reuse. You want to understand what they did so you can compare different vendors. A vendor may change all the wearable parts or just the worn parts. You want to be sure you are getting the best value for the money.