OFT’s used investigation
May 7th, 2009 by Richard Aucock
USED car sales are to be investigated by the OFT, Car Dealer Magazine learns, after complaints rocket.
The body wants to understand why so many complaints are arising – and is focusing its attention on CAR DEALERS.
Results of the investigation may even lead to tightened legislation and stricter enforcement.
The surprise announcement follows over 68,000 customer complaints to Consumer Direct relating to the sector last year.
OFT officials say defective vehicles, services and misleading sales topped the list of complaints, of a sector that has featured heavily in the list of gripes for the last 3 years.
Car clocking alone is estimated to cost used car buyers £100 million, from a market said to be worth £35 billion.
Now, it seems the OFT’s patience has run out.
John Fingleton, OFT chief, said: ‘Buying a second-hand car is a major and potentially difficult purchase, given the fact that many consumers lack the necessary experience or knowledge to make an informed buying decision.
‘We aim, particularly given the current financial climate, to look at the entire process for consumers when buying a second-hand car, and whether existing regulation delivers sufficient robustness, confidence and clarity for both the customer and car dealer.’
Officials will be speaking to all interested parties, including car dealers, as part of its studies. Anyone else wishing to offer input should, by 5 June, email second-handcars@oft.gsi.gov.uk
The OFT expects to complete the work by the end of the year.
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German car sales magic continues
Tags: investigation, oft, used cars
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May 8th, 2009 at 12:05 pm
At least we have the scrappage scheme to help with buying New cars, about time something helped us!