Online used car buying site Webuyanycar.com is having to make changes to its business model following a probe by the OFT (Office of Fair Trading).
The OFT found nearly 96% of webuyanycar customers received less for their vehicle than the original amount offered by the online valuation.
The OFT said consumers were given the impression that they would be paid the online valuation if the company’s onsite inspection matched the condition entered by the seller online.
However when webuyanycar’s representative arrived some customers found that “other factors” reduced the final price from the original valuation
The OFT also found vehicle inspectors from webuyanycar were set targets regarding the purchase of vehicles.
“The company fully cooperated with the OFT’s investigation. Whilst the company and its directors believe that their business practices complied with the law, they have agreed to make changes in light of the OFT’s investigation,” the OFT said.
According to the OFT Webuyanycar has agreed to:
Make clear that the website valuation is not a price at which the company is offering to buy the consumer’s car and that a range of other factors might be taken into account
Not set targets for vehicle inspectors which have the potential to encourage them to reduce the valuation offered for inappropriate reasons
Not deduct from the final price the amount of any refund available to the customer from the DVLA for the road tax remaining on the car