The risks of buying used Premium Cars

Many people only come to realise when it’s too late, but even today there’s still a lot of fraud and deceit in the second-hand car market. This is an even bigger problem with premium brands such as BMW, Mercedes, Porsche,… But it’s true for any car that is in any way unique, rare or desired in any way. Why? Simply because there’s a very high demand for these kinds of vehicles. They end up being traded quite often, even at high mileages when other vehicles would already have been scrapped.

Because of this, it’s very tempting and profitable to rollback the odometer, have a low degree of transparency about the history of the vehicle, try to hide any accidents,… Anything that leads to a higher resale value and many potential problems for the next owner. But most importantly: it leads to unjustified trust or a complete lack thereof.

This risk of buying used premium cars is just as relevant for car dealers. They have to do the same kind of thorough research and verification to make sure that they are buying a good, solid vehicle. We know from first hand that this is difficult, even for professionals and big dealerships.

Unjustified trust

A lot of people we talk to, who are interested in purchasing a premium used car or have done so in the past, tell us that they don’t even see the problem. How come? Well, many of them aren’t really “into cars”, they want to own a high)quality car that suits their own character and lifestyle as well as possible. They trust the person who sells the car to them, without really verifying whether their trust is actually justified.

Sadly, in many cases, this trust is not justified and later-on, they will come to realise that the hard way. Their vehicle might have been in an accident, the odometer might have been rolled back, perhaps the car was poorly maintained by previous owners, and so on. A car may look very shiny and beautiful, but underneath it could very well tell a totally different story! It’s important to be aware of this and never purchase a second-hand vehicle, especially from a premium brand, simply by trusting the person who’s selling it to you.

We Verify Cars’ Solution

That is where We Verify Cars comes in. We want to create trust where there is none. We want to wield transparency, where there is a lack of it. We want to make sure when there’s a vehicle that doesn’t meet high quality standards, you know about it and can calculate that into your purchase and have a good idea about the risk you’re taking and the true value of the car.

This is good for everyone. The seller (whether it’s an individual or a professional) can demand a higher price for vehicles that are truly in perfect or very good condition, the buyer pays a fair price and can purchase the vehicle with a peace of mind. This results in the buyer being satisfied with their purchase and therefore, if they purchased the car from a dealer, they are likely to recommend the business they bought it from to other people as well. The quality of a specific vehicle can easily be proven because they will have our Quality Label and our report that comes with this.

You can read more about what differentiates us from other businesses and methods that help you with verification of pre-owned cars here. If you would like to read everything about how we work and exactly what we do to verify a vehicle and give it the We Verify Cars Quality Label, you can do that here.

Alternatives to We Verify Cars?

Let’s take a look at the possible ways to check whether a vehicle meets the quality standards that you’re most likely looking for when purchasing a second-hand premium car. This could, of course, also be a higher milleage example, but one that has been maintained well, has a full service history (preferably with invoices), and is visually in good shape.

• Do it yourself: If you know everything you need to look for, then you could do the verification yourself to make sure you’re not buying a so-called “lemon”. A vehicle which is going to potentially cost you its purchase price multiple times over. Disadvantages of this are that you will have to do research and spend a lot of your time to know exactly what you need to look for. Even if you choose this option, we still have services to offer you which are superior in quality to anything else on the market today.
• Hire a “professional” to check the vehicle for you: This option comes closest to what we’re doing with We Verify Cars. You’re trusting a 3rd party to verify whether your potential purchase is any good. He knows what to look for, what typical shortcomings are for a certain model of a certain year with a certain mileage. But let’s be realistic, how many people actually do this? Wouldn’t it be much easier if you could right away recognise when a vehicle is verified ánd certified with a quality label?
• Trust the seller of the car: As were able to read above, it’s usually not a good idea to buy a used vehicle simply by trusting the seller. This is often times unjustified trust which could become very expensive in the future. Why would you not spend a little time and money to make sure that the car you’re spending your hard-earned money on is actually any good and is not going to cost you a lot more right after you just got it? A warranty limits this risk only partially, since many parts are not covered under warranty, so even then it’s still beneficial.

As a professional, you will of course be able to do most of this yourself as you will know what to look for, what the weak spots are for each vehicle. Still, it will take time and effort to really make sure that everything is alright, to make sure everything adds up. It’s also very likely that you are currently not making use of the newest technology in verifying vehicles, which we do use and are able to offer you (more about this below). So what if we could do all this for you? Imagine how much time you could save, the money you could save making sure that you’re buying a solid vehicle which won’t cost you a lot of money having to replace parts in warranty ánd risk having dissatisfied customers.

Differentiation

All alternatives require you to do all the work. Either you have to do all the verification, or you have to go through the troubles of hiring someone and pay him to do it for you. But what if he finds out the car is in fact a lemon which potentially has a lot of issues? That would mean he saved you from a bad purchase, yes. But you still lose the money you had to pay him just to find out you didn’t find your perfect car yet. Or if you put in the effort and time to check for yourself if a vehicle meets certain requirements and it turns out it doesn’t, then you lose your valuable time.

This is probably how We Verify Cars differentiates itself the most.

We go through the effort of verifying vehicles for you and you know it’s verified if it’s wearing the We Verify Cars Quality Label. Only cars that meet a number of requirements can get this Label! Of course, if you would like us to review a certain car that hasn’t been verified by us yet, we can also do that for you. Check out our services here.

We Verify Cars Quality Label

Quality Label Explained

Our signature product is the We Verify Cars Quality Label, aiming to serve both individuals and professionals. This Quality Label is very simple, yet unique and powerful.
It brings together all possible ways to verify whether a car is in good condition and to make sure it can be purchased with confidence, knowing that the vehicle hasn’t been tempered with and having full transparency over the history of the car.

So, what does this mean exactly? Well, in order for a vehicle to receive our Quality Label, various actions must be taken:

• The car must have had its vehicle inspection and passed it with no issues. Or if there were any, they must be taken care of.
• Along with this, the car must have a Car-Pass, which goes together with the vehicle inspection.
• Finally, we will do a VIN Number Check and Car History Check using carVertical. This is the first company to use blockchain technology for their reports, which makes them more trustworthy than any other VIN check provider out there.

What we’re doing with our Quality Label is combining the best ways to verify a vehicle and putting them together with a report. This is unique in the industry. You simply cannot find this degree of transparency and accuracy anywhere else. Especially not without having to do everything yourself and risking spending lots of money verifying a vehicle that turns out to be a bad example of a car you would like to purchase.

Premium Label Explained

For those who want to go one step further, we got you covered. The We Verify Cars Premium Label is here to deliver an even more accurate view of a vehicle’s condition and to enable you to purchase with even more confidence.

• On top of all the Quality Label requirements, a vehicle must have had a full service in order to get this label. This service must havezzq

Benefits for individuals

There are many benefits for individuals who choose to purchase our Quality Label or Premium Label for the car they wish to sell:

• The first benefit is very clear: having our label creates trust towards anyone who’s interested in purchasing your vehicle. This creates a stronger position in negotiations and will make it possible for you to demand a higher price.
  Vehicles with this level of transparency and verification are (currently) very rare.
• Your car can be advertised as having our label and potential buyers will immediately link this with trust and they will know that this specific vehicle has all transparency and the highest quality possible.
  Again, this will lead to a higher resale value and easier, faster selling of the vehicle.

Anyone who purchases our Labels, will experience these benefits. We’re convinced this makes it more than worth the fee we’re asking (more about this below). Furthermore, you will help to revolutionise the used car market by creating a degree of trust that has never been seen before. Imagine if We Verify Cars can become just as common as the Car-Pass. How much more confident would you be, purchasing a second-hand vehicle? That’s our vision.

Benefits for professionals

Now we can also list the benefits for professionals/dealerships who choose to purchase a Quality Label of Premium Label for their cars:

• The first benefit is very similar to professionals as to individuals. Having our Quality or Premium Label will create trust towards your customers. This means not just a higher value, but furthermore you can be more selective for the vehicles you purchase, to avoid high costs during warranty.
• In an industry with a lot of fraud and very low transparency, a dealership with this degree of transparency will create more loyal and happy customers. You will immediately differentiate yourself from the competition.
• A happy customer is very likely to recommend your business to other people. This means even more added revenue and business growth. Our label will be a long-term investment.
• Just the fact that your vehicles have our label will immediately create more trust for your (potential) customers. Our name will be linked with buying a used vehicle with trust and confidence.
  Again, this will lead to a higher resale value and easier, faster selling of your cars.

We’re convinced that the fee we’re asking for our Labels will be totally worth it and earn your the investment back many times over.

Pricing for individuals

As an individual, looking to get a We Verify Cars Label, you have the following options:

• Option 1: You go to the vehicle inspection to get a green card and Car-Pass. If there are any remarks, these must be taken care of as well.
• Option 2: We do everything for you, including going to the vehicle inspection and getting the Car-Pass. If anything has to be fixed, you can handle this or we can do this for you.
  We always deliver the carVertical reports for you and create the Report that goes along with the Label and all the requirements.
• Premium Label: If you choose to get a Premium Label, your car must have had a full service, with invoices. You can also choose to let us handle this completely for an added fee.

Prices will vary depending on the option you choose and other factors (such as servicing costs).

Price Quality Label: € 129.99 incl. VAT.
Price Premium Label: € 159.99 incl. VAT. and Service cost (+ 30%)

Pricing for professionals

As a professional, looking to get We Verify Cars Labels, you have the following options:

• Option 1: You go to the vehicle inspection to get a green card and Car-Pass. If there are any remarks, these must be taken care of as well.
• Option 2: We do everything for you, including going to the vehicle inspection and getting the Car-Pass. If anything has to be fixed, you will need to handle this, or we can do this for you.
  We always deliver the carVertical reports for you and create the Report that goes along with the Label and all the requirements.
• Premium Label: If you choose to get the Premium Label, you will have to show us proof that you have given the service as you claim.

Prices will vary depending on the option you choose and other factors (such as servicing costs).

Price Quality Label: € 119.99 incl. VAT.
Price Premium Label: € 149.99 incl. VAT. and Service cost (+ 20%)

We Verify Cars Premium Car Market

There is currently not a market place where you can go and only find high-quality used cars. From our own experience, when looking for a premium second-hand vehicle, when you start asking questions like “What’s the VIN number? Do you have a service history (with invoices)? Are there any costs to be expected? Do you have a Car-Pass?”, a lot of people won’t even respond anymore.

This is very concerning, because not everyone will be asking these (important) questions. People who don’t do this are very likely to end up buying a “lemon”. They will pay more than the car is worth and they are likely to be disappointed with it when it starts breaking down and causing even more maintenance costs. So, what would be the best way to avoid this?

Introducing We Verify Cars’ Premium Car Market. This will be the first online platform where people can go to purchase their premium second-hand vehicles with complete trust and confidence. No fraud, full transparency. Every vehicle listed there will be verified by us.

Our Premium Car Market brings together all advantages listed previously to one place. When talking about the customers for our Premium Car Market, we can split this into two categories:

• On the one-hand we have you, the customers of our Quality Label and Premium Label. For you, this will simply be an added service which will offer even more value. Every car that gets our Label, will be listed on our platform. Main advantage is that you will have more range, will be able to sell your car or cars more quickly and your vehicle(s) will be listed in an environment of high-quality cars only.
• On the other hand, we have the visitors of the platform, potential buyers for these vehicles which we have Labeled and listed on our platform.

What are the most important advantages for users of our Premium Car Market?

• Easy to use, attractive interface;
• No loss of time having to verify vehicles themselves, no disappointment when they go take a look at a supposedly beautiful car that turns out to be a shady car;
• Being able to buy a vehicle with trust and confidence, because they will have all possible data without even having to contact the seller, as everything will be embedded within the advertisement.

As you can see, this is clearly an advanced version of our vision. The way of the future so to speak. Imagine being able to go to a website which you trust completely with the knowledge that every single vehicle listed there will be verified by us and will have all the requirements needed to get either a Quality Label or a Premium Label.