Sport Utilities
OFT cracks down on webuyanycar.com valuations
The car buying giant, webuyanycar.com, has been forced to make changes to its website following an investigation by the Office of Fair Trading.
The company came under scrutiny following concerns that its online valuations were misleading. The OFT discovered that 96 percent of customers received less than was originally quoted following an on-site inspection of their car.
The firm’s representative would often cite ‘other factors’ such as market conditions, as a reason for lowering the first offer. The OFT also discovered that the vehicle inspectors were set targets for purchasing vehicles, which may have included reducing the quote by 25 percent on reappraisal. Read the rest of this entry »