| Media item | |
| | Buyer beware | Herald Sun,
Melbourne
by Geoff Gwilym Vacc Ceo
| 12 Apr 2024 | | General News - Page 51 - 264 words - ID 2059419866 - Photo: Yes - Type: Advertorial - Size: 248.00cm2 | |
I'm always amazed at the number of used cars bought and sold each year in this country.
Estimates peg the total pool of used cars sold annually at around 3.8 million. In almost 60 per cent of cases, the owners of these vehicles sell them either online or through other seller-to-buyer channels.
Representing VACC new and used car dealers in Victoria, I continue to remind governments of the hurdles placed before Licensed Motor Car Traders (LMCTs) when selling used cars, compared to the apparent no-holds-barred conditions for private sellers.
This isn't fair.
While consumers fight hard for protections, like the Australian Consumer Law and statutory warranties, they seem to throw this anxiety out the window when buying a vehicle from someone they've never met, who doesn't run a legitimate car sales business, and who may have various motives for selling their used vehicle.
Used car dealers must meet rigorous regulatory burdens when running their businesses such as being a LMCT, which includes a criminal history and identity check, as well as submitting detailed business plans and financials to Consumer A?airs Victoria. They must also guarantee a clear title and check for any recalls before proceeding with a sale. LMCTs do this and more while competing with the 60 per cent of the market that don't have to meet these requirements.
This just doesn't seem right to me. If the industry is bound by statutory consumer protections, why shouldn't everybody else who's selling their vehicle?
Think about that next time you're scrolling through an online vehicle marketplace.
Prepared by Victorian Automotive Chamber of Commerce
Provided for client's internal research purposes only. May not be further copied, distributed, sold or published in any form without the prior consent of the copyright owner. |
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