The secondhand car market is costing buyers £85m a year, according to the Office of Fair Trading (OFT).
However, despite this the OFT has reported that the current level of legislation is sufficient, saying instead that more should be done to ensure that everyone is aware of their responsibilities.
The report follows on from 72,000 complaints lodged last year about unscrupulous sellers.
It found that the market “does not work well for consumers”, making it the most complained about business sector in the UK.
The OFT's report found that consumers are potentially overpaying around £580m a year as a result of illegal clocking, while some dealers pretend to be private sellers to evade their legal obligations to consumers.
Also, one in 11 car dealers rely on illegal disclaimers about the car's history and condition, such as saying that a car is 'sold as seen'. Many dealers also fail to disclose what mechanical and other pre-sale checks they have carried out, according to the OFT.
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Re: Used car market 'costs £85m'
I guess it's alwats going to be this way for the majority of used car buyers. However, I made a big mistake on a car purchase many years ago and now I always get an independant inspection done, even if buying an 'approved used car' from a main dealer. These inspectors have saved me a lot of hassle over the years, they know what to look for even on cars not yet out of their 3 year warranty.
Re: Used car market 'costs £85m'
This makes no sense to me at all, this is just the sort of service I'd want if buying a used car from a non franchise dealer/private without a warranty.
Re: Used car market 'costs £85m'
it never ceases to amaze me that whilst we all know people who have got rid of a car because it has something wrong with it, we expect the dealers to find these faults and put them right before we buy. Get them checked, or buy from a reputable place with a good warrenty, or buy very cheap so you can throw it away if you get it wrong