Webuyanycar.com has been rapped by a consumer watchdog over claims it misled customers by valuing their vehicles at a higher price than it eventually paid.
The Office of Fair Trading (OFT) has taken enforcement action against the group after finding nearly 96 per cent of people who sold their car through the site received less for their vehicle than the initial valuation suggested, with some prices being knocked down by hundreds of pounds.
Richard Harrison, chief operating officer of the firm, said the OFT findings did not reflect current practice. He added: "In the early days, we were operating a new business and defining a new market sector and we didn't get it right for every single customer. This was a long time ago and isn't reflective of the business we are today."