Buying a car?

No more hiding the truth in car ads

Added 10 May 2021 by

“Modern car sale ads must be transparent and must not lie. This is how they should stand out from hundreds or even thousands of similar ads. Buyers can’t waste time reading almost identical descriptions; that’ll make them lose their motivation to search altogether.”

Quoted above is a fragment of Second hand car purchase roulette is over: a report published by autoDNA. The report provides an overview of the way the Polish automotive market is turning towards greater transparency.

A study conducted by SW Research for autoDNA confirms that the most popular ad websites have been, invariably for years, OTOMOTO, OLX and Allegro. Another well-established website is gratka.pl.

General Manager of OTOMOTO, Przemysław Vonau, states that he is taking a number of initiatives to raise consumer awareness and enable easier access to vehicle history information based on the VIN number. On March 2, 2020, OTOMOTO made it mandatory to publish the VIN number in each car ad. This is a step towards reducing the information asymmetry effect and providing the users with the fullest possible verification of the vehicle they are looking for… before it’s too late.

The SW Research study confirms: Almost 50% of Polish drivers can’t imagine buying a car found online without seeing it with their own eyes and taking it on a test drive first. It is worth mentioning that almost 15% of respondents believe the purchase of a paid VIN report to be necessary.

Consequently, it can be assumed that the vast majority of buyers who bought such a report when purchasing a previous car can’t imagine future purchases without verifying the vehicle history this way first. This is according to the people who made a purchase through the advertising service in the last 3 years.

Therefore, making the inclusion of the VIN number mandatory in car sale ads is an important step towards a transparent automotive market and a message to car ad websites in Poland and around the world.

 

Read more about VIN number…

Read more about information asymetry and the “market of lemons”

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no-more-hiding-the-truth-in-car-ads
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no-more-hiding-the-truth-in-car-ads
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"Modern car sale ads must be transparent and must not lie. This is how they should stand out from hundreds or even thousands of similar ads. Buyers can’t waste time reading almost identical descriptions; that’ll make them lose their motivation to search altogether."
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autoDNA
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