Due to the number of complaints from the public, related to used car market and the Motor Trade sector, the Office of Fair Trading is conducting a study set to complete by the end of 2009.
Within 2008 there were 68,000 complaints related to second hand car sales. The purpose of the OFT study will be to understand the reasons behind the high level of complaints and to assess whether the current legislation offers sufficient consumer protection.
Despite the beginning of the economic downturn in 2008, the used car market in the UK was worth £35 billion. It is in the interests of used car dealers and consumers that confidence is maintained in the market. The main areas of concern in complaints were defective vehicles, servicing and misleading selling.
For used car dealers, Motor Trade Insurance is an important consideration. If you are looking for the right cover for your vehicles, premises and indemnity cover - iQuote Insurance will save you money on Car Dealer Insurance.
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