Economy, Auto

Car Presale Regulations Revised

Car Presale Regulations Revised Car Presale Regulations Revised

New regulations have been communicated to carmakers and vehicle importers in regards with the cap of payments for the presale of vehicles. Carmakers and vehicle importers have been forbidden from receiving more than half the total price of a vehicle as a deposit for a presale, ISNA reported. The new regulation is part of an amendment to consumer protection laws that aim to boost the rights of car buyers. Several specialists had criticized car importers on the grounds that the companies do not rely on their own financial resources to import cars but procure the needed money through presales. In other words, the companies draw on customers' money for doing business. Farbod Zaveh, an automotive expert, confirmed that car importers provide only 5% of a car's price from their own financial resources and the rest is collected from customers as presale payment.