Most British Columbians have used peer-to-peer marketplaces, but when it comes to expensive items like vehicles, many find buying online too risky.
That is according to a new survey for the British Columbia Automobile Association (BCAA) conducted by Angus Reid. It found that 78 per cent of respondents see these sites as important due to affordability concerns. However, 63 per cent believe the platforms have “flaky” buyers or sellers, while 72% see it as too risky to buy big-ticket items.
“The high cost of new vehicles has more people buying and selling second-hand online, but the challenge is finding the best way to do it,” said Kyla Way, BCAA Senior Manager, in a statement.
She added that the association’s research highlights that many people simply do not trust online peer-to-peer marketplaces, describing the experience as unreliable, unethical, and unsafe — all ongoing issues. “When dealing with an item that costs thousands (of dollars), many people are weighing up if it’s worth the gamble, which is why we’re doing things a little differently,” said Way.
The association has its own automotive marketplace (BCAA Auto Marketplace) that they said helps address those issues. This includes safeguards meant to protect buyers and sellers, such as verifying users’ identity through ID verification. The site also provides access/availability to vehicle details and history reports, information verified by the Vehicle Identification Number (VIN), Carfax vehicle history reports, lien checks, and ICBC accident reports.
“People are looking for an alternative, to make buying and selling a vehicle a better experience,” said Way. She added that the BCAA Auto Marketplace was created to solve some pain points “and create a trusted community of verified users and accurate vehicle details so (they) can navigate the used vehicle market with confidence.”
