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CHECKYOURCAR

About

Used car sales offer a classic example of 'asymmetric knowledge'​ in a market: the seller knows considerably more about the true quality of the goods than the buyer. This is even stronger in the market among private individuals, in which no warranty is provided (Please note that in Spain there is only a legal obligation of warranty when the vehicle is sold by a car-seller professional) and there is a perception of high level of fraud. These are the main reasons for mistrust of the private seller when a purchase is considered. And even with this mistrust, the used car market among private individuals accounts for more than 50% of the total market. The gap with other industrialized countries in Europe (ratio of used vs. new cars of 1.6 in Spain vs. 2.7 in France or 3.2 in UK) and the existing crisis situation in which more people are tending to purchase a used car rather than a new one make the Spanish used car market a market with strong growth expectations. In this scenario, checkyourcar aims to fight out car fraud and make the second hand car market transparent. Through a whole external structure of qualified inspectors and mechanics, a car seller/buyer will be able to perform a check of the car he is considering selling/buying in order to optimize its price.

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Company Details

Industry

individual and family services

Founded

2010

No locations found

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