Tuesday, September 6, 2011

Probe is OFT used car market

Used car is officially examined are, has announced (OFT) the Office of fair trading.

Authority says consumers and competition is after consumer direct above last year again saw his list complaints about the used car market.

All in all bought complaints about used cars from independent traders numbered 47,019 2008 12% over the previous year.

Common gripes include defective vehicles to sell services and potentially misleading.

OFT Chief Executive, John Fingleton, said: "buying a used car is an important and potentially difficult buy, given that many consumers lack the necessary experience or know, one informed to make purchasing decisions."

"Our aim is in particular given the current financial climate, look at the entire process for consumers when buying a used car and whether existing regulation offers sufficient robustness, confidence and clarity for both the customers and the car dealers."

UK used car market was thought to be worth around ?35 billion in 2008.

Earlier this week, car predicted rate expert glass's Guide, that a lack of used cars on the market would drive prices considerably by end of this year.

Quoted in the Telegraph, glass's managing editor Adrian Rushmore predicted that an average three-year old car worth ?5, 100 in December - ?700 will be more than a similar car at the end of 2008.


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