Buyer Beware: Scams in the Panama Used Car Market

Buyer Beware: Scams in the Panama Used Car Market

If you're in the market for a used car in Panama, it's important to be aware of potential scams. The Consumer Protection and Competition Defense Authority (Acodeco), similar to the Better Business Bureau in the United States, has issued a warning about fraudulent activities by economic agents operating under various commercial names. With 298 complaints already filed against these entities, it's clear that the issue of scams in the Panama used car market is a significant one.

Panama used car market

The following was reported by Acodeco on INSTAGRAM instagram.com/p/Cr8O54hMsC7/ you can also visit the Acodeco website acodeco.gob.pa.


Translated for your convenience:


Several buyers of used cars have filed complaints with the Consumer Protection and Competition Defense Authority (Acodeco) against economic agents operating under various commercial names (such as Platinum Motors, Cars Boulevard, Traffic Motor, S.A, Farid Motor, etc.) for deceptive sales practices and even possible fraud. These affected consumers are advised to go directly to the Public Ministry.


These economic agents have changed their commercial names multiple times, so consumers are urged to be cautious. Acodeco has received 298 complaints against these economic agents, broken down as follows: 54 against Platinum Car - Platinum Motors, 95 against Car Boulevard, 114 against Traffic Motor, S.A, and 35 cases against Farid Motor.


It has been discovered that these economic agents have changed their commercial names, have had their operation notices cancelled or incomplete information, and their commercial names suspended on several occasions, making it difficult for consumers to reach an agreement or for the institution to continue processing their complaints under consumer protection laws. As a result, the case is referred to the Executive Court due to non-compliance with Acodeco's order or copies of the case file are sent to the Public Ministry or Peace House, depending on the complaint amount.


For more information, please visit our website at acodeco.gob.pa.