Motoring Discussion > Webuyanycar censured by the OFT.	Buying / Selling
Thread Author: FotheringtonTomas	Replies: 35

Fri 1 Apr 11 13:57   Webuyanycar censured by the OFT. - FotheringtonTomas

"Online dealer Webuyanycar.com has been rapped by the consumer watchdog over concerns that it misled customers by valuing their vehicles at a higher price than it eventually paid. The Office of Fair Trading (OFT) has taken enforcement action against the group after finding nearly 96% of people who sold their car through the website received less for their vehicle than the initial valuation suggested, with some prices being knocked down by hundreds of pounds." ind.pn/hWdjFz ("The Independent") Reply to this message | Report message

Fri 1 Apr 11 14:00   Webuyanycar censured by the OFT. - Zero

The BBC www.bbc.co.uk/news/business-12934140 Targets set The OFT investigation found that consumers were given the impression that they would be paid the online valuation if the company's onsite inspection matched the condition entered by the seller online. But once at the appointment, some customers found that other factors reduced the final price from the headline valuation, including "market conditions". The OFT also found that vehicle inspectors were set targets regarding the purchase of vehicles, sometimes to reduce the valuation offered by up to 25% when they looked at them. Last edited by: Zero on Fri 1 Apr 11 at 14:01 Reply to this message | Report message

Fri 1 Apr 11 14:17   Webuyanycar censured by the OFT. - Dog

They offered me £1875 (less £50 admin) for my 05 1.8 auto SE Almera 40km fool pain dealer history, I told em to get stuffed :) Reply to this message | Report message

Sat 2 Apr 11 03:04   Webuyanycar censured by the OFT. - idle_chatterer

I tried them 'just to see' last year when we needed to dispose of SWMBO's 6 month old Golf due to our move abroad, IIRC they offered nearly £3,000 less than the supplying VW dealer then had the audacity to pester me for weeks 'as-if' their offer was somehow attractive or even fair. I categorised their email as spam, obviously they're a business and I suspect they do well enough with whoever their target buyers / sellers are, however, I am unlikely to try them again and wouldn't recommend them except for entertainment purposes. Reply to this message | Report message

Sat 2 Apr 11 08:51   Webuyanycar censured by the OFT. - Dog

>>I tried them 'just to see' last year when we needed to dispose of SWMBO's 6 month old Golf due to our move abroad, IIRC they offered nearly £3,000 less than the supplying VW<< I could understand that with a duffers car like the Almera, but not a popular car like the Golf. Reply to this message | Report message

Fri 1 Apr 11 15:27   Webuyanycar censured by the OFT. - Notdoctorchris

I was wondering the other day, when their advert was on the TV, where do they actually sell the cars that they buy? Do they have a "we sell any car" sales arm or do the cars go to other motor traders by various means? I've heard a lot of people moaning about how unethical this company are to quote a value for your car which they won't pay when they have looked at the car. Being a cynical person, I have always assumed this would be how they would operate and I'm surprised people think otherwise. Reply to this message | Report message

Fri 1 Apr 11 15:53   Webuyanycar censured by the OFT. - rtj70

Aren't they the people behind CarCraft? Reply to this message | Report message

Fri 1 Apr 11 16:05   Webuyanycar censured by the OFT. - Zero

Webuyanycar.com is registered at Nixon Street, Rochdale OL11 3JW Car craft is registered at Nixon Street, Rochdale, OL11 3JW different company registration number. Last edited by: Zero on Fri 1 Apr 11 at 16:05 Reply to this message | Report message

Fri 1 Apr 11 16:08   Webuyanycar censured by the OFT. - rtj70

Same people behind each though? The company I work for has numerous company registration numbers. Reply to this message | Report message

Fri 1 Apr 11 16:16   Webuyanycar censured by the OFT. - Zero

>> Same people behind each though? No idea, one would need to search companies house records for each one, but one can assume that to be the case >>The company I work for has numerous company registration numbers. With different company names, yes. That's what these guys have, seems to be no controlling group so I assume they "sell" the cars from one company to the other. Reply to this message | Report message

Fri 1 Apr 11 16:10   Webuyanycar censured by the OFT. - mikeyb

The local drop off here is a branch of carshaft. I am sure that they adopted this as a business practice, but how many sheds do you think turn up described on line as A1. Fair few I bet Reply to this message | Report message

Fri 1 Apr 11 16:50   Webuyanycar censured by the OFT. - Iffy

Webuyanycar is the car buying arm of Carcraft. As mikey says, Carcraft branches are drop-off points for webuyanycar, although they do have non-Carcraft premises as well. From what I've read, customer experiences vary. Some people say they were paid the price quoted, others complain of being chipped when they take the car in. Reply to this message | Report message

Fri 1 Apr 11 17:00   Webuyanycar censured by the OFT. - RattleandSmoke

The amount this company spends on advertising suggests they are making a fortune from it. The only way they can be doing that is by buying the cars well below the true market value. Just done an online valuation for my car as a joke, they will offer 3,670 and in reality probably £3000. That is way way below book value and as apart of my finance agreement the car is guaranteed to be worth a minimum of £1850 in another three years time. Reply to this message | Report message

Fri 1 Apr 11 17:07   Webuyanycar censured by the OFT. - Bigtee

Carcraft offered me a Astra 8 months old for more cash than a brand new one with delivery miles. Who buys from them is it finance folk who can't raise cash? What i mean above is the higer rate finance. Reply to this message | Report message

Fri 1 Apr 11 17:08   Webuyanycar censured by the OFT. - sherlock47

Interesting, because based on their valuation of my Panda MJ when it was 1 year old, they offered only £1000 less than I had paid! Paid <£6300 offered £5300. Reply to this message | Report message

Fri 1 Apr 11 17:11   Webuyanycar censured by the OFT. - Bellboy

they run a business on supply and demand all hail carcraft the peoples car buyer hick....... Reply to this message | Report message

Fri 1 Apr 11 17:10   Webuyanycar censured by the OFT. - Armel Coussine

>> making a fortune from it. The only way they can be doing that is by buying the cars well below the true market value. But, hang on a minute, isn't the 'true market value' what you get for the thing when you sell it? The difference between the true market value you get when you sell your old jalopy and the true market value someone else pays when they buy it from the trader you sold it to is the trader's margin, justified sometimes by the trader's expertise in choosing good cars to sell on and making them even better, but sometimes not justified at all. This bewildering, concertina-like flexibility is one of the beauties of capitalism, if you like that sort of thing. Caveat, er, everyone, eh? Speak to us Bell Boy! Last edited by: Armel Coussine on Fri 1 Apr 11 at 17:12 Reply to this message | Report message

Fri 1 Apr 11 17:12   Webuyanycar censured by the OFT. - Bellboy

spoked :-) Reply to this message | Report message

Fri 1 Apr 11 17:28   Webuyanycar censured by the OFT. - RattleandSmoke

By market value I meant market value, e.g what they sell at :). I wasn't meaning book value. You can get the Panda new for £6k so they will always take a bit hit in the first year. As I am keeping mine very long term I am not bothered. The car is just a tool and I now fantasise about pretty girls and Aston Martins :). Reply to this message | Report message

Fri 1 Apr 11 19:19   Webuyanycar censured by the OFT. - Crankcase

They do seem to have an interesting grasp of numbers. "The Office of Fair Trading (OFT) has taken enforcement action against the group after finding nearly 96% of people who sold their car through the website received less for their vehicle than the initial valuation suggested" And the CEO says, "In the early days, we were operating a new business and defining a new market sector and we didn't get it right for every single customer. " I suppose getting it right for 4% is ok then... Reply to this message | Report message

Fri 1 Apr 11 19:29   Webuyanycar censured by the OFT. - Dog

Some peops are happy with WBAC, my sisters husband offloaded a nice Vectra via their South London depot, smooth transaction + they were happy with the spondulics. Reply to this message | Report message

Fri 1 Apr 11 20:56   Webuyanycar censured by the OFT. - Boxsterboy

Isn't it the case that if you go for an online valuation, which you decline, they then come back and say "market conditions have changed, we can offer you more"?. That's what happened the one time I tried them out of interest to see what they would offer. And no, Car Craft are not noted for their bargains. Judging by the amount they are spending on adverts they must be coining it from the gullible. Reply to this message | Report message

Fri 1 Apr 11 21:02   Webuyanycar censured by the OFT. - Lygonos

One of my faves is a Carcraft video - www.youtube.com/watch?v=zOsw035soiE Give it a watch and add some comments... I'll get you started. At 5:18 'Every car has a bazillion checks' - then see it drive off with a non-functioning tail light (earlier you'll see it has no reversing light either at 3:50) 6 grand for a 4.5yo car that was selling for under 5 grand new when it was being run out. etc. Last edited by: Lygonos on Fri 1 Apr 11 at 21:02 Reply to this message | Report message

Fri 1 Apr 11 23:21   Webuyanycar censured by the OFT. - BobbyG

Is Carcraft not the car equivalent of Bright House? Reply to this message | Report message

Fri 1 Apr 11 23:24   Webuyanycar censured by the OFT. - rtj70

Does Bright House sell second hand overpriced good on credit as well? Many many years ago my brother bought a well spec'd car from a large car supermarket in south Wales (1991 I think) and he got a lot of car for the money (cash). I think that is CarCraft now. Avoid avoid ;-) Last edited by: rtj70 on Fri 1 Apr 11 at 23:26 Reply to this message | Report message

Fri 1 Apr 11 23:41   Webuyanycar censured by the OFT. - Ted

Like Rats, I stuck my car reg in for a larf and they didn't even have the make listed. I feel quite rejected now......sulk. Ted Reply to this message | Report message

Sat 2 Apr 11 07:53   Webuyanycar censured by the OFT. - Iffy

...stuck my car reg in for a larf and they didn't even have the make listed... Don't suppose they have much of a market for Jowetts. Reply to this message | Report message

Sat 2 Apr 11 08:16   Webuyanycar censured by the OFT. - -

I haven't used them* but my son sold his well used Toledo and got the price they quoted, however being a man of his word he described the car accurately. I'm not surprised that 96% of punters didn't get the online valuation, whenever i've looked at cars privately advertised for sale i've found so many to be outright liars selling their neglected rubbish as minter, immaculate, as new, and variations on the theme....those same folk probably tarring all dealers with the same brush, assuming no doubt everyone is at their level. *when i advertised the pick up i got a quote from webuyanyvan for the hell of it, they quoted a fair price without taking the hardtop and other extras into account, but i didn't attend the centre. A dealer in good (not cheap) low mileage well maintained motors from Harrowgate offered more than the dodgy private buyers looking for that sort of truck wanted to talk about, he paid for the car by BCC before seeing it after a half hours conversation on the phone...see there are still some decent folk left....i bet BB knows who i sold it to. Last edited by: gordonbennet on Sat 2 Apr 11 at 08:17 Reply to this message | Report message

Sat 2 Apr 11 08:55   Webuyanycar censured by the OFT. - Duncan

I don't really 'get' this. You want to sell your car to a company; they offer you less than you think it is worth; you walk away. What's wrong with that? Sounds like normal healthy market forces at work to me! No one is forcing you to accept their offer. Reply to this message | Report message

Sat 2 Apr 11 12:02   Webuyanycar censured by the OFT. - idle_chatterer

>> I don't really 'get' this. >> >> You want to sell your car to a company; they offer you less than you >> think it is worth; you walk away. >> >> What's wrong with that? Sounds like normal healthy market forces at work to me! No >> one is forcing you to accept their offer. >> Fair comment, I suspect they're interested in a particular target customer segment as both buyers and sellers and can make a better margin from these people who (perhaps) don't have access to alternatives. Surely the censure merely defines what is acceptable behaviour and what isn't in the execution of their particular business model ? Reply to this message | Report message

Sat 2 Apr 11 15:42   Webuyanycar censured by the OFT. - RattleandSmoke

There was/is a great thread I think on Martin Lewis website about a 19 year old who bought a four year old base spec Clio from carcraft. When people worked out the full price including interest it worked at about £12,000 for a car which would have sold for £7000 new. That said my £6500 will cost me £8200 when you include finance but now I know I can get credit easily I will be in a much better position next time to get a better deal. Reply to this message | Report message

Sat 2 Apr 11 15:45   Webuyanycar censured by the OFT. - rtj70

Rattle, is yours some sort of PCP deal though? Didn't you mention guaranteed future value? Reply to this message | Report message

Sat 2 Apr 11 15:50   Webuyanycar censured by the OFT. - Chris S

Were these people offered less than the initial valuation after they'd paid the £50 admin fee? Reply to this message | Report message

Sat 2 Apr 11 15:51   Webuyanycar censured by the OFT. - RattleandSmoke

I was wondering the same too. Reply to this message | Report message

Sat 2 Apr 11 17:16   Webuyanycar censured by the OFT. - Iffy

...Were these people offered less than the initial valuation after they'd paid the £50 admin fee?... I don't think so. The complaint is they were asked to travel to the company's premises under false pretences. I agree with those who think it's a fuss about not very much. Reply to this message | Report message

Sat 2 Apr 11 15:50   Webuyanycar censured by the OFT. - RattleandSmoke

Yep basically after the four years I will still owe some money but they guarantee the car will be worth at least what the remaining loan payments would be. I can either buy the car for the guarenteed minimum value, just hand the car back or if the car is worth more than the minimum use it as a deposit on a new one. In reality I will be buying the car as it is by far the best deal. £1800ish for a 4 year old car I know the history off. Reply to this message | Report message