Buying A Used Car? An Essential Check You MUST Carry Out

Thursday, 13. November 2008

Car thefts are down by 12% according to Home Office statistics to end of June 2008. But HPI have been quick to point out that car theft is not the only crime and motorists need to be more vigilant than ever if they are to avoid some of the more sophisticated crime that the crooks are now perpetrating. As a result HPI have offered up some advice for motorists to follow. HPI checks reveal that around 30 vehicles are stolen every day and many may be sold on to unsuspecting buyers looking for a bargain. Whilst theft may be reducing fraud is continuing to increase. Outstanding finance is the biggest threat facing used car buyers according to HPI who point out that 24 out of every 100 cars checked by HPI are still subject to a finance agreement and this figure is likely to increase as we move further into recession and people become desperate for cash. The worry here isn’t the 24 out of 100 that are checked and found to be on finance, as the person checking knows that they should check HPI and are unlikely to buy the car until they receive proof that the finance has been settled. The problem is with the cars that aren’t checked and people innocently buying cars that they are unaware are on finance. It was interesting to read in the report put out by HPI that people who buy cars that are already on finance stand to lose not only the car but also the money paid. Now whilst there may be circumstances where this is true ie. if the car is leased or hired it is my understanding that if the car is purchased by an innocent private buyer and it is later found to have finance on it ‘good title’ passes to the buyer. If the funder turns up to repossess the car if you are an innocent buyer you should not voluntarily give the car up. Anyway, moving back to the HPI report, they continue by pointing out that car cloning is on the increase (applying a vehicle identity to another vehicle so that two identical vehicles end up on the road). They warn buyers to be wary of cars being sold with missing number plates, incomplete vehicle documentation (V5, MOT and service history), and a substantially discounted price. HPI provide advice on their website along with a unique V5 document check and, if you buy a report, a guarantee to protect against buying a clone. Clocking is another problem with 7 out of 100 cars checked against the National Mileage Register showing a discrepancy. Buying a clocked car can be worse than simply buying a car with an ‘adjusted’ mileometer it may also hide away excessive wear and tear leading to expensive repair bills and even an accident. For more information visit the HPI website http://www.hpi.co.uk/tradeweb/ where you can buy a report. By Graham Hill