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By covid-19, 55% of people use cars to generate extra income

The Covid-19 pandemic hit the economy of many people, so much that, according to OLX Autos, 55% of people have had to put their car to another use to obtain extra income.

Some of the alternatives have been to register them in individual transport platforms such as DiDi, Uber or Cabify, among others, to share trips and even use them as a taxi, this according to a survey carried out by the technology platform for the sale of used cars and market research company OdelaRoquette.

The survey carried out in February this year also revealed that during the health contingency, for 62% of Mexicans, their car has represented an investment, while for 27.5% it is rather an expense, and 10.5% see it. as a source of income.

As for the reasons why someone would sell their car, more than half would do so because they have money to invest or save; second to pay other debts and a smaller percentage would sell it because they can no longer maintain it or because they do not use it.

“Today there can be many reasons why a car is needed, but whatever the reason, the fundamental thing is that they look for reliable transactions,” warns Sergio Mirensky, CEO of OLX Autos México.

In Mexico each year between six and seven million vehicles change owners, according to INEGI data. However, most transactions are made between individuals, without being registered with the SAT or with the Public Vehicle Registry, which exposes practically 8 out of 10 people to fraud when buying or selling their car among strangers .

“In a sale between individuals, the only document that remains is usually the letter of transfer of rights that is acquired in any stationery, that is a lot of risk for your assets. The advantage of a technological platform like OLX Autos is that it allows you to make immediate quotes, a professional inspection at no cost – either in person or assisted online – and the sale endorsed by a global company with high security standards. All transactions are verified by transparent bank transfers, with total security ”, adds Mirensky.