It may be racy, but it’s also risky! Green cars the mostly likely to be stolen, clocked or written off
HPI data reveals green cars the mostly likely to be stolen, clocked or written off www.hpicheck.com According to new research by the vehicle history check expert, HPI, the colour car that most commonly hits its ‘at risk’ registers is green. Used car buyers who conduct an HPI Check® on green cars are more frequently told they are either registered as stolen with the police, have a mileage discrepancy that needs investigating, or are recorded as an insurance write-off. The good news is that green cars are the least likely to hit the outstanding finance register – and 1 in 4 cars checked with HPI has outstanding finance against
Car clocking – don’t get caught out
It’s easy to think of clocked cars as a problem of yesteryear. One that’s been tackled so you no longer need to worry about it. But sadly, nothing could be further from the truth, as one in every 20 cars subjected to an HPI check is found to have been clocked. Where there’s easy money to be made, crooks will always strike – and with clocking so easy and the rewards potentially so great, it’s no wonder clocking is still such a big issue. So big in fact, that according to the Office of Fair Trading (OFT), clocked cars cost the motor industry and consumers more than £100 million each year. According to used car valuation experts Glass’s, if you’re lucky enough to own a 12-plate BMW 530d SE Touring it’s worth little more than £15,000 with 150,000 miles on the clock. But halve this mileage and the car’s value jumps to just under £20,000. Cut the mileage to just 30,000 and the BMW is worth a whopping £23,000 – a 53 per cent (and £8000) increase over the 150,000-mile car. No wonder clocking is rife. Last year, one gang of criminals was imprisoned for clocking at least 255 cars, with four million miles being lost in the process. In 2013, a Nottingham-based dealer pocketed over £130,000 by wiping six million miles off 74 used cars that he sold online . With these scams far from unusual, you really need to have your wits about you.
Reputational risk a clocking conundrum for dealers
HPI urges dealers to protect themselves from the risks Over 70% of dealers surveyed by HPI, the automotive technology solutions provider, are concerned about damaging their reputation by inadvertently selling on a clocked vehicle. With 1 in 20 cars checked with HPI recorded as having a discrepant mileage, dealers are right to be fearful of clocked cars. Also high on the list of concerns is the safety risks dealers expose customers to by selling on a clocked car. Interestingly, the threat of a judicial sentence is a relatively low concern by comparison, despite the fact that selling on a vehicle that has a wrong mileage reading would be a ‘false trade description’ and therefore could constitute a criminal offence. A false trade description or a failure to comply with the Consumer Protection from Unfair Trading Regulations 2008, is a breach of the law.
The Roof Comes Off But So Do The Miles
As British Summer Time Fast Approaches, HPI Urges Convertible Car Buyers to Check for a Chequered History Over the last decade the UK has seen the number of convertible cars on its roads increase by a staggering 1182%*, confirming Britain’s passion for ‘making hay whilst the sun shines’. However, HPI is warning convertible-loving used car buyers looking to bag themselves a bargain this summer, that this type of car is the most likely to be recorded by HPI as having a discrepant mileage reading – which could mean it’s been ‘clocked’ to reduce its true mileage.
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.
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.
CAR CLOCKING RISES – HPI URGES CAUTION
As HPI confirms, this week, that its National Mileage Register (NMR) now exceeds 150 million mileages, the BBC’s The One Show* puts the spotlight on the growing threat of car clocking. Leading with HPI’s figure of one million clocked cars on UK roads, The One Show went on to report how one used car buyer fell victim to clockers, spending over the odds on a vehicle that had done over four times more miles than the odometer registered. David Woodward of Bristol bought what he thought was the car of his dreams. The immaculate Peugeot had just 34,000 miles on the clock and David spent £5,000 thinking he had a real bargain. Sadly for him, North Somerset Trading Standards informed David that the car actually had over 140,000 miles on the clock. The vehicle had been sold by a gang of criminals, who were subsequently convicted and found guilty of clocking 19 cars in total by more than 1.5 million miles. One in 20 cars checked with HPI show a discrepant mileage, and this figure has risen by 10% in the last 5 years. “Clocking itself isn’t illegal, but selling a clocked car without declaring its true mileage is,” explains Kristian Welch, Consumer Director for HPI. “The One Show highlighted that there are many of mileage correction firms clocking vehicles, despite there being only very rare instances when the mileage needs correcting. Clearly many of these companies are exploiting a legal loophole to help unscrupulous sellers con used car buyers out of their hard-earned cash and we support calls to change the law. “People don’t realise that digital odometers can be clocked, but the BBC has proved what we have always known – that they can be altered just as easily but are harder to detect. A low mileage can add hundreds or even thousands of pounds to the perceived value of a vehicle, so buyers have a lot to lose. Not only could they pay more than the vehicle is worth, but the car may need servicing and repairs sooner than the tampered mileage suggests. An HPI Check includes a mileage check against the NMR as standard, and now with over 150 million readings, it safeguards the car buying public against clockers. It will also record mileages in the first 3 years of the vehicle’s life, before it enters the MOT system.” Backing advice given by Dom Littlewood on The One Show, HPI urges consumers to check the mileages recorded on the service history. Buyers can also look for invoices and service stamps from a genuine dealer and contact the previous keeper to confirm the mileage when they sold the vehicle. Kristian Welch concludes, “By following these simple steps car buyers can avoid wasting money on a potentially clocked vehicle. Too many buyers are unaware of the risks and get taken in by a great price and a low mileage, topped off with shiny paintwork. If a deal seems too good to be true, buyers should always walk away. The best advice is, don’t take the risk of buying a clocked vehicle, get an HPI Check.” An HPI Check will also confirm whether a vehicle is stolen, on outstanding finance or has been written-off, making it the best way for consumers to protect themselves from fraudsters looking to make a fast profit. The HPI Check also offers a £30,000 Guarantee in the event of the information it provides being inaccurate, offering added peace of mind to used car buyers. HPI’S TIPS ON SPOTTING A POTENTIALLY CLOCKED VEHICLE* Check the service history – Check the mileages displayed in the service history and look for invoices and service stamps from a genuine dealer. Speak to the previous keeper – Contact the previous keeper to confirm the mileage of the vehicle when they sold it. Trust your judgement –Look for any evidence that indicates clocking – anything out of keeping with the general condition of the vehicle. Check the mileage – Clockers sometimes wind back the mileage for the first viewing and then return it to its original value once you buy. Check the mileage is the same when you pick up the vehicle. Look for signs of wear and tear – Does the wear and tear on areas such as seats and the steering wheel match its mileage? Look out for brand new easily replaceable parts, which don’t match the vehicle’s displayed mileage. Conduct an HPI Check – Don’t take the risk, let HPI check its mileage database of 150 million mileages. *Many of these signs could be innocent, so look for more than one of the above as possible evidence of clocking If you missed the article on the One Show, then you can see it again here
Stamp Out Car Clocking
We’re urging our customers to join us in the fight back against car clocking, as we launch an e-Petition to DirectGov to close down mileage correction firms. Across the UK, these companies are turning back the miles on used cars, helping certain sellers push up the price of vehicles. 1 in 20 cars checked by us show a discrepant mileage, and this figure has risen by 10% in the last 5 years. Private Consumers and Dealers need to tackle the threat of “clocking” head on, as they risk unwittingly selling “clocked” vehicles putting their business and the safety of road users at risk. [button type=”bd_button btn_large” url=”http://epetitions.direct.gov.uk/petitions/40393 ” target=”blank” button_color_fon=”#058668″ button_text_color=”#ffffff” ]Sign our Petition Here[/button]