A record number of used cars were bought and sold in Norway last year. As many as 527 used cars have changed hands. At the same time, nearly four in ten have had trouble buying or selling a used car, according to a recent study by Norstat for NAF.
Selling used cars can be a challenge, and at worst, conflicts and frustration between buyer and seller. In a recent poll, nearly four out of ten (37 percent) said they experienced a specific challenge after buying or selling a car.
- Contracts, change of ownership and payments have long been a cumbersome task for many car buyers. You have to transfer large sums, take out insurance - and how can you make sure everything is in order? NAF and Vipps are now coming up with a new and simple solution, says Espen Andreassen, product owner at NAF.
Buying a used car won't be easier or safer
- We managed to solve this problem in a super clever way. Buying a used car won't be easier or safer. The change of the owner takes place after the payment is made and the money is credited to the seller's account. Then the car is automatically re-registered, continues Andreassen.
Settlement is free via Vipps and documents are digitally signed with BankID.
– Vipps aims to simplify the everyday lives of people and companies. People know Vipps and trust the payment solution. Therefore, car trading is now safer for both buyer and seller. This is because the payment takes place at the same time as the contract is signed and the owner changes Norwegian Road Administration Public, says group product manager at Vipps, Ninni Høver.
The buyer is then sure that the car is registered in his name, and the seller can safely return the keys with the payment on his account. Handing over the keys and vehicles should take place simultaneously with the payment and completion of the change of owner.
The most common causes of problems are serious faults in the car
According to a study by Norstat, the two most common causes of problems with the purchase of used cars are serious defects in the car or failure to meet service deadlines. Incorrect information in the car description is also a recurring theme.
- If you are using a purchase contract (kjøpekontrakt) with Vipps, you have clarified the uncertainty regarding formalities and payments. However, remember that you should always carefully inspect the car before buying. Always drive a test drive and don't hesitate to take the car to the garage, says Andreassen of NAF.
He emphasizes that it is also important to check that the car has no financial burden.
The five most common problems when buying a used car:
The car turned out to have serious defects / it broke down after a short time (7%)
Service book missing / service interval not respected (7%)
The seller provided incorrect information in the ad (equipment / properties / model year, etc.) (5%)
The car had a serious damage that the seller did not report (5%)
The seller didn't registered again car until the amount for the car is received (3%)
The survey was conducted from December 2021 to January 2022 with 1504 respondents.
Photo: NAF
Source: NAF
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