The Automobile Association (AA) has issued a warning to consumers against buying cars that appear to be bargains and to never buy a car at less than 70% of its market price.
Similar to used car advice from vehicle checker HPI, the Association has advised customers to always conduct a vehicle data check, including matching the VIN and chassis numbers, and to find a benchmark market value for any car considered for purchase.
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In particular, the AA warned customers to be wary of buying insurance write-offs or stolen cars, for which they may lose both the vehicle and their money, or cars with outstanding finance, which would still be the property of the finance company.
The call for vigilance follows a survey conducted by AA Car Data Check in which nearly half of 137 correspondents said they would be drawn to a car for sale at considerably less than market value.
One in 10 respondents would be tempted by a car priced a lot less than market value, while just over a third would be interested, but cautious, in purchasing a car at half of market value.
richard.brown@vrlfinancialnews.com
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