Car buyers in Victoria to save $1 million…
The Victorian Government claims car buyers in Victoria will be better off to the tune of $1 million and better protected due to a reduction in “red tape”.
THE VACC (Victorian Automotive Chamber of Commerce) says the$1 million in savings is down to a reduction in “business duplication and compliance issues (when buying from a Licensed Motor Car Trader). The changes come into effect on 1 November 2014”. The cuts were confirmed in the recent Consumer Affairs Legislation Amendment Bill 2014.
“Amendments to the Motor Car Traders Act 1986 will reduce the regulatory burden on motor car traders and enhance protections for purchasers,” Minister for Consumer Affairs, Heidi Victoria, said.
“The current car buying process in Victoria works well and when purchasing from an LMCT, buyers receive a number of protections, including a three-day cooling-off period.
However, a number of administrative changes will make documents even clearer and provide more safeguards for buyers. For example, information about the three-day cooling-off period will become more prominent on the contract of sale,” VACC Executive Director, David Purchase, said.
“The three day cooling off period change, alone, is a big win for motorists, and when you take into consideration the many other significant red tape cuts contained in the Bill, this really is welcome news. It is a good piece of legislation and Minister Victoria deserves credit for listening to industry, assisting small business and showing decisive leadership.
VACC and LMCT members worked closely with Government to provide information to show how unhelpful regulation, duplication and compliance impacts business, and has a negative effect on consumers. VACC, the Government, Consumer Affairs Victoria and the Red Tape Commissioner, John Lloyd, collaborated to discuss a raft of bureaucratic impositions on LMCTs, which will soon be scratched, leading to less consumer complaints and a more efficient system, it claims.