More Protection For Used Car Buyers
Used car buyers will be better protected from unfair traders after new laws came into force yesterday.
The Unfair Commercial Practices Directive harmonises trader laws in all European Union states.
Any breach in providing adequate information to a customer in order to allow them to make an informed decision could lead to a fine of up to ï¿¡5,000 and up to two years in prison.
Experian said the directive will put pressure on used car dealers to ensure vehicle checks are carried out and promises fulfilled.
Kirk Fletcher, managing director of Experian’s automotive division, said: “The scope of the new directive is still unclear and open to interpretation, so the full impact on the automotive industry is yet to unfold.
“Given that our own research has shown that consumers are willing to pay more for peace of mind, it simply underlines the importance of ensuring critical information is provided at the outset so customers can make an informed decision.”
Tags: Auto, automotive industry, car buyers, car dealer, Car Dealers, commercial practices, consumers, european union, european union states, experian, managing director, new laws, open to interpretation, peace of mind, scope, Used Car, vehicle checks
