Hats Off to HPI
We were awarded the Honest John, ‘Highly Approved Trader’ (HAT) award again this year (2nd time on the bounce)!Voted for by you, the public, the HAT Awards are hosted by honestjohn.co.uk and recognise best practice within the UK motor trade. We joined an exclusive group of 11 winners from across the motoring industry, who all demonstrate exceptional service standards and value for motorists. Honest John himself said; “The HAT Awards give the businesses that are delivering an exceptional experience to motorists the recognition they deserve, from the real experts: motorists themselves. Given the economic pinch it is now more important than ever for consumers to find good deals and decent service for a sensible price. I believe the HAT Standard sets the benchmark for a level of customer service that motorists should have the right to expect”. Our very own Nicola Johnson, Consumer Services Manager for HPI adds, “We are delighted to win for a second time. It reflects HPI’s ongoing commitment to meeting the changing needs of consumers that first started in 1938. Today, used car buyers can access the HPI Check on the move via our mobile enabled service, available on iPhone, tablets and Android Smartphones, as well as through our traditional website and Salisbury-based contact centre. Consumers continue to get the same great service and motoring know-how, no matter how they get in contact with us. “Over the last couple of years HPI has delivered over 20 million vehicle history checks and powers provenance checks on behalf of companies such as the RAC, AA, PistonHeads, and eBay. Together we continue to protect used car buyers from the risk of fraud, helping them shop with confidence and drive happy. With the Honest John’s HAT Standard, anyone checking a potential car purchase with HPI knows they are using a company voted for and recommended by other motorists.”
Get the Price Right
To celebrate the launch of HPI Spec Check, we’re offering it free* to dealers for a limited period. Take advantage today! Valuing new stock can be challenging, especially if a vehicle has a number of factory fitted options on it that could influence the price. But the launch of HPI Spec Check, a unique valuation support service from vehicle information expert HPI, simplifies the process of valuing vehicles by drawing upon manufacturer build specification to identify the optional extras fitted on an individual vehicle.
Clocker Conviction Applauded
News this week announces the first ever conviction of an owner of a mileage correction firm following a recent OFT investigation. This dramatic development follows the recent steps by the vehicle information expert HPI, to lobby parliament to shut down such firms, by launching an e-petition and calling upon the nation to back the fight against mileage correction firms.
Don't Buy a Halloween Horror
With the witching season nearly upon us, we’re warning used car buyers against getting spooked by dodgy used car sellers this Halloween. Protecting buyers from cars that may go bump in the night we’re offering 25% off an HPI Check up until 30th November 2012. Just use promotional code SCARE25 when entering purchase details.
Turning Back Time on Clocking
The end of October marks the end of British Summer Time and, as we turn the clocks back, we want to remind you used car buyers to watch out for unscrupulous sellers turning the clocks back on their mileage readings. Known as ‘clocking’, this not only adds significant value to a vehicle, but it could lead to higher maintenance costs, as the vehicle might have more wear and tear than the buyer realises.
Returning Untaxed Cars
HPI is extending HPI CrushWatch to alert motor finance lenders to vehicles impounded by the Driver and Vehicle Licensing Agency (DVLA) because the vehicle has no road tax. A car that is subject to a finance agreement which is driven without Vehicle Excise Duty (VED) is breaching the terms of the finance contract. Until now, confiscated cars would have been auctioned or sent to the scrap heap if they weren’t claimed by the registered keeper.
FORD TRANSIT MOST STOLEN VAN
Our latest league table of the most commonly stolen light commercial vehicles (LCVs) confirms that the Ford Transit is still top of the thieves’ shopping list. But close behind are the Mercedes Sprinter and Mitsubishi L200. For those whose livelihood depends on a 4 wheeled workhorse, buying a used van can be a risky business and something that should be approached with care. Stolen, clocked, written-off or still on finance are just some of the many pitfalls to catch-out the unsuspecting van buyer. “It’s not just van owners that need to be concerned about which LCVs are most commonly stolen; used van buyers also need to consider the risks,” explains Daniel Burgess, Managing Director for HPI. “Thieves will be looking to sell vans on to innocent buyers, so the general public and van dealers must be on their guard. Dealers who unwittingly buy a stolen van not only face losing the van and the money they paid for it, should it be returned to the van’s legal owner, but put their reputation on the line should they innocently sell on that van to a customer who then faces financial loss.” “1 in 4 vans checked has something to hide, but used van buyers can avoid risks by simply carrying out an HPI Check, which will uncover the vehicle’s history and confirm if there is anything untoward about the vehicle that needs investigating.” Outstanding finance also continues to be a major risk with around 1 in 8 vans checked with us still on a finance agreement. Again, van owners could find themselves losing both the van and the money they paid for it, if the legal owner reclaims the vehicle. 1 in 17 vans are likely to have been involved in an accident and declared a total loss, otherwise known as a write-off, by an insurance company. Some insurance write-offs can be legitimately repaired by professionals and returned to the road, but many are damaged so badly they should only be scrapped. Sadly, it is not uncommon for the unscrupulous, looking to make a quick profit, to disguise a van that isn’t safe so that they can put it back on the road, and then sell it on to an unsuspecting buyer. Daniel Burgess concludes. “It’s essential that used van buyers are aware of the risks and don’t get taken in by criminals and dishonest sellers. The HPI Check will tell a dealer whether their potential purchase has been stolen, written-off, had a plate change, might be clocked or is on outstanding finance, offering valuable peace of mind for them and their customers.” HPI STOLEN VAN HIT RATES Ford Ford Transit 25% Mercedes Mercedes-Benz Sprinter 21% Mitsubishi Mitsubishi L200 13% Nissan Nissan Primastar 4% Peugeot Peugeot Expert 4%
10.4 million cars could have a murky past!
There could be up to 10.4 million cars with a hidden history on the UK’s roads. This follows news from the Society of Motor Manufacturers and Traders (SMMT) that there has been a 9% increase in cars in the UK to 31,362,716. With 1 in 3 cars hitting our ‘at risk’ registers the SMMT figures suggest that the nearly new and secondhand car market is a minefield for buyers. Still on finance? Outstanding finance remains a very real threat when buying a used car, as many don’t realise that the debt stays with the vehicle. If the debt remains unpaid, it will leave the new owner at risk of losing the car and the money they paid for it, if the finance company decides to reclaim the vehicle. With 1 in 4 cars checked with HPI** confirmed to be on outstanding finance, this could mean there may be up to 7.8 million cars that are still on finance on the roads. The HPI Check uses the UK’s most comprehensive financial agreement database to confirm if a car is still on finance or not, enabling consumers to buy with confidence. Fake ID? Over 6.2 million cars on the roads could have had a plate change, if the car parc follows the trend, with 1 in 5 vehicles hitting our plate change register. This usually reveals an innocent personalised plate, but fraudsters can use a change of plates to hide the identity of a stolen car or an insurance write-off. An HPI Check report matches the vehicle registration number (VRM) with the vehicle’s chassis number (VIN) to make sure they’re registered with each other. Clocking back the miles 5 in 100 cars checked with us have a mileage discrepancy, which could equate to over 1,500,000 cars on the UK roads. Dodgy sellers use clocking as an easy way to increase the price of their vehicle. Not knowing the true mileage could also mean there’s a risk of missing critical maintenance tasks, such as full servicing that include important part replacements. Our HPI Check service uses the National Mileage Register (NMR), featuring over 150 million records, to ensure that a car’s mileage does not feature any discrepancies. A total write-off 4 in 100 cars we check have been declared an insurance write-off – otherwise known as a total loss. This could translate to over 1,250,000 cars on UK roads today. Buyers need to beware of shiny paintwork hiding a dangerous level of damage or inadequate repairs, making it unfit to be on the road. Our HPI Check report will confirm if a vehicle is a write-off, helping buyers spot a true bargain and avoid buying a nightmare on wheels. “Unscrupulous sellers use a variety of tricks to bump up the price of an older vehicle and hide a dodgy past”, warns our Consumer Director, Kristian Welch. “Over the last couple of years HPI has delivered over 20 million vehicle history checks and powers provenance checks on behalf of companies such as the RAC, AA, PistonHeads, and eBay. Together we continue to protect used car buyers from the risk of fraud, helping them shop with confidence and drive happy.” ** Based on vehicles checked with HPI in 2011.
INFOGRAPHIC – HPI CRUSHWATCH
We posted recently about the volume and value of uninsured cars that HPI CrushWatch returns to finance companies. We thought it useful to illustrate that in an info graphic too…
SAVED FROM THE SCRAPHEAP…
HPI CrushWatch Returns Vehicles to Finance Companies and Helps Police Protect the UK’s Highways Our latest figures suggest that it is drivers of mid-range higher volume vehicles, often the popular Vauxhall, Ford and Volkswagen models, that continue to be the greatest offenders of insurance evasion. However, a staggering number of offenders in 2011 were drivers of prestige, high value vehicles, including five Ferraris, two worth £151,000 and £115,000 each, an Audi R8, a Bentley and a number of Lamborghinis. Nearly 1 in 10 of the 60,000 uninsured cars seized by the police in 2011 and checked with HPI CrushWatch, had outstanding finance recorded against them. Working in partnership with the Finance & Leasing Association (FLA), we created HPI CrushWatch in direct response to the FLA’s initiative to clamp down on uninsured drivers. The scheme brings together motor lenders and police to reclaim illegal cars, rather than having the vehicles scrapped. “There are an estimated 1.4 million uninsured motorists on the UK roads, illustrating the threat facing law abiding road users and the finance providers who own the offending cars,” comments Daniel Burgess, our Managing Director here at HPI. “In 2011 HPI CrushWatch alerted finance companies to the seizure of over £31 million worth of vehicles they owned, thereby protecting their assets from the crusher. It’s very interesting to learn how many of these vehicles are being driven by people the majority of us would consider to be in a position to afford insurance, yet have been caught persistently avoiding paying premiums.” Forty-three of the UK’s 52 police forces actively use HPI CrushWatch, illustrating its effectiveness in the clampdown against insurance evaders. Our 2011 figures show that West Yorkshire, Strathclyde and Merseyside police forces have notched up the highest total value of seized cars, indicating these regions have the greatest number of insurance offenders on their roads, followed closely by Hertfordshire and Lancashire. As part of the HPI CrushWatch service, every vehicle a finance company registers with HPI will be automatically checked by participating police enforcement agencies if they are seized. Finance companies signing up to HPI CrushWatch will be alerted when any vehicle they have an interest in is seized. This allows them to decide whether to recover the vehicle for selling on to recoup bad debt, or allow it to be destroyed. Daniel Burgess concludes, “Available to all finance companies, not just HPI clients, HPI CrushWatch uses HPI Check data to help the motor finance industry reclaim illegal cars. With no annual fees, subscribers only pay for the alerts they receive, offering finance companies a powerful weapon to protect their assets, whilst helping the police to safeguard innocent motorists from becoming victims of uninsured drivers.”