The biggest fear for most dealers is discovering a hidden fault or damage in a vehicle at the moment of exchanging cash for a car, C2B vehicle marketplace Wizzle has found.
In contrast to this, the anxiety around unexpected price offer reductions at the 11th hour is the number one reason consumers avoid cash-for-car services.
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Wizzle said these facts showed establishing trust by maximising transparency is the most important aspect for both parties to any car trading platform.
Unsurprisingly, price was the most important factor for consumers, however Wizzle said trust in a fair outcome ranked almost as highly.
Sébastien Duval, founder of Wizzle, said: “The Office Of Fair Trading criticisms in 2011 around lack of transparency in the sector were predictably all about the negative experiences of consumers.
“But it’s just as important for dealers offering to buy cars that they aren’t wrong footed at the last minute by undisclosed problems or damage.
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By GlobalData“It’s unfortunate that there is a popular myth that the only person at risk in a transaction like this is the motorist, when all of us in the trade know that not all private sellers are as open as they could be about the details of their vehicle."
