Do not deal with Cars and Co Pty Ltd
NSW Fair Trading Commissioner has issued a public warning urging consumers not to deal with Cars and Co.
NSW Fair Trading Commissioner Rose Webb has issued a public warning urging consumers not to deal with Cars and Co located at 71 Victoria Road, Rozelle NSW. Fair Trading has suspended Motor Dealers Licence held by Cars & Co Pty Ltd effective Tuesday 11 June 2019.
The trader’s business includes sourcing new and demonstrator vehicles from new car dealerships for fleet and private customers, as well as purchasing and selling second hand vehicles, including on consignment.
Fair Trading alleges the trader operates two bank accounts, however neither are trust accounts. Traders who conduct consignment sales without holding a trust account are in breach of section 90 of the Motor Dealers and Repairers Act 2013 (NSW).
It is alleged that the trader has failed to account to consignees the full amount received on the sale of vehicles, while the trader may have misappropriated money received on behalf of consignees to satisfy debts of the business – both of which are in breach of the Motor Dealers and Repairers Act.