OFT’s Research on Used Car Sales

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Publish date: 2010-01-12

The latest research on used cars by the Office of Fair Trading, OFT in short, contains information and figures that should be at least useful for buyers of second-hand vehicles. And although a full market study is to be released and published early next year, the OFT have made four reports included in the complete body of work already available over the Internet. The rest of the big report on ways of purchasing used cars is now in consultation for draft guidance aimed at governing second-hand car dealers under the Consumer Protection from Unfair Trading Regulations 2008 and the Sale of Goods Act 1979, which are two main parts of customer legislation in the United Kingdom. According to the data delivered by the OFT, an estimated 86 percent of problems with used cars become apparent within some three months after the purchase. The fact is that people who bought their used cars at auctions usually paid a little bit more for rectifying problems with second-hand vehicles than drivers who got their machines elsewhere. The study is also aimed at throwing some light on many specific problems that consumers may experience. As the OFT exists mainly to support and protect consumers' rights as well as promote competitiveness among businesses, the full research on used cars and specific problems may be a nice lecture to anyone dealing with second-hand vehicles.

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