A big change is coming for used cars in South Africa.
The South African Insurance Association will formally open its Vehicle Salvage Database to the public in a move that will help stop previously written-off and poorly repaired vehicles from re-entering the used market, it said in a statement on Thursday .
The VSD system contains information on salvage vehicles. These are vehicles that have been deregistered by the respective insurers and thus declared salvage after policyholders have been indemnified of their motor claims. When a written-off vehicle is sold, the respective code is disclosed to the buyer. In this, the non-life insurance industry ensures that the relevant stakeholders who buy the salvage vehicle are fully informed of the state of the vehicle being sold, and therefore how the respective vehicle should be treated going forward.“The board’s decision that further investigation of the inherent risks is required was made after considerable deliberations,” said Viviene Pearson, SAIA chief executive.
Potential users of the VSD should also be aware that access to information is not guaranteed to be a complete solution to fraudulent behaviour, said Pearson.
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