New evidence of consumer problems in the second-hand car market
According to a study published by the European Commission on March 2 2015, problems in the second-hand car market cost European consumers between € 1.9 and € 4.1 billion. 41% of consumers in the EU experienced problems within the first year of buying a second-hand car, and 40% of these problems were experienced after one month. Nearly a quarter of respondents did not receive information they were legally entitled to receive – such as information on the car’s accident history, consumer rights to a legal guarantee, and information on CO2 emissions.
The study sheds light on the experiences and problems faced by consumers when buying a second-hand car in the EU. It is a follow-up to the 8th Consumer Markets Scoreboard , in which the second-hand car market fared poorly in terms of consumer trust and satisfaction, accompanied by a high number of problems.
The study compiles the views of 24,500 consumers who had bought a second-hand car from a trade source in the past three years. It will be a useful tool for authorities, traders and consumer organisations to fully understand the problems on the second-hand car market and how to resolve them.