Australians lost nearly $1.1 million to second-hand vehicle scams in the first seven months of 2023, with 761 scams reported.1 So, it’s no surprise that the payment stage is where people break the most sweat when buying or selling a car online. The need for safer, simpler payment solutions is clear, especially as online private vehicle sales continue to grow in popularity.2
Recognising this, carsales recently launched an industry first solution for users to pay through carsales, and since the October release, Aussies are already sharing how it’s made their journey quicker, easier and less stressful.
The latest research from carsales found that two-thirds of consumers respondents preferred using bank transfers when buying a car from a private seller; however, an overwhelming majority encountered issues that led them to contact their banks for assistance.3 Additionally, concerns about scams are on the rise, with both buyers and sellers expressing growing distrust in the process, often worried about potential fraud.4
Designed to alleviate the anxiety that comes with online vehicle transactions, paying through carsales streamlines the process and eliminates mitigates the uncertainties typically associated with bank transfers, cheques, and cash exchanges. With features like verified IDs,5 secure customer-controlled funds, and faster payments with no additional fees, carsales is raising the bar for both safety and convenience in car transactions.
Paul Barlow, carsales Managing Director, shares: “In today’s fast-moving digital landscape, it’s important we match the pace with innovative solutions to ensure our consumers feel at ease. People are comfortable paying online for everything from groceries to furniture – and it’s time they feel the same confidence when paying for cars. We’re giving Australians the first secure way to buy and sell private second-hand cars online.
“With growing concerns surrounding scams, paying through carsales offers a simpler and smarter transaction experience. Our goal is to revolutionise how payments are handled in car transactions, giving our customers greater transparency and peace of mind by helping to ensure their funds are secure and their transactions are legitimate.”
Debbie, a South Australian customer, shared her positive experience: “Paying through carsales made the selling experience safe. It’s brilliant that the buyer can release the funds to me, and I receive it straight away. By paying through carsales, you know it’s safe, legitimate, and you’ll get your money.”
Another customer shared: “Most definitely would use again – just seamless. Gives both seller and buyer confidence when doing the transaction. No gotcha’s.“
Key features of carsales’ payment solution include:
To learn more about how to pay through carsales, visit: www.carsales.com.au/payments. T&Cs apply.
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