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New data from the ACCC found that Australians have been cheated out of $288,000 by used car scammers in the first three months of 2021.
A chronic shortage of new cars has resulted in surging used car prices, with values increasing by up to 40%.
The ACCC says Australians are susceptible to lose even more if the trend continues.
Australians have already lost over $288,000 to vehicle scams, according to a report by the ACCC, as a scarcity of new cars pushes buyers towards independent sellers.
The Australian Competition & Consumer Commission (ACCC) reported a pronounced uptick in scams in the first quarter of this year – more than all losses reported to Scamwatch in the entirety of 2019.
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