Selling a Car? Beware Car-Selling Scams
The Office of Fair Trading (OFT) is warning those selling their second hand cars about a massive £3 million car selling scam.
In this article:
  • Car Selling Scams
  • Tips for Selling a Car
  • Motoring News & Second Hand Car Selling

The OFT, police, Trading Standards, and the motoring industry have launched action to drive out car selling scammers.

Motoring News: How do Car Selling Scams Work?

Vehicle matching scams work by approaching consumers selling their cars and promising falsely to match them with definite buyers.

Typically, anyone selling a second hand car privately is cold-called by phone once they have placed an advert in a magazine, on a website or in a newspaper. They are promised that a buyer exists for their vehicle but are required to pay a matcher’s fee up front before the sale is completed.

However in many cases there is no buyer, the contract with the vehicle matcher cannot be cancelled, and any money paid is lost.

Last year over 1600 private sellers of second hand cars complained to advice service Consumer Direct about the practice, losing between £80 and £99 each, but the true number of victims is thought to be much larger.

“High pressure selling alongside cold calling makes this a very successful scam, often leaving the consumer with very little chance of obtaining redress,” said Motor trade lead officer Peter Stratton from the Trading Standards Institute.

“Partners are working together to help educate and protect consumers in respect of these rogues.”

The OFT has co-ordinated the sharing of intelligence between different enforcement agencies to target action against traders engaged in unfair commercial practices, assisted on enforcement action, and has organized a day of action with the police, local authority Trading Standards Services and consumer bodies to crack down on the car matching scammers. As part of the action TSS officers are also due to carry out inspections.

The OFT is also working with online and print motoring publications and websites who are members of the Vehicle Safe Trading Advisory Group to put in place clear and prominent warnings for consumers who put their cars up for sale about these scams.

Better Money Advice - Bringing you the best money saving deals on 2-4-1 restaurant vouchers, plus the best money advice. Best Loan Deals, Best Insurance Deals, Credit Card Deals & more Money Saving Deals Online- Bettermoneyadvice.co.uk.

Not what you are looking for? Search Better Money Advice for the Latest Money Saving Deals & News

Loading