Sep 242014
 

Cost of ClockingThe simple fact is that adjusting the mileage of a used car, often referred to as ‘clocking’, costs the buyer dearly. So the car data checking company HPI joins forces with valuations experts, Glass’s, to reveal just how much money dodgy sellers can con out of buyers.

“Too many used car buyers ignore the threat or just aren’t aware of the risks from fraudsters who use ‘clocking’ to alter a vehicle’s mileage,” says www.hpicheck.com Senior Consumer Services Manager, Shane Teskey. “We’re hoping that by exposing how much money buyers stand to lose, consumers will take greater steps to protect themselves. It’s almost impossible to spot a clocked vehicle just by looking at it, which makes an HPI Check a vital tool for buyers keen to avoid falling foul of fraudsters.”

Andrew Jackson, Head of Analytics at Glass’s, comments, “Clocking is a serious issue – dodgy sellers are making a fast profit at the expense of innocent buyers, but consumers could lose more than just money if they buy a vehicle they don’t realise has been clocked. Tampering with the odometer may lead to safety issues, especially if a vehicle appears as if it doesn’t need a service, when it actually does. The act of clocking could disguise the need for a major mechanical repair, leaving buyers with a hefty bill if something does go wrong.”

Shane Teskey concludes, “We’re working closely with Glass’s to help raise consumer awareness of the threat of clocking. This is a widespread issue, but the HPI Check comes with a mileage check as standard, offering vital peace of mind and protection from clockers.”

The HPI Check includes a mileage check against the National Mileage Register as standard, now with over 170 million mileage readings. HPI also confirms whether a vehicle is currently recorded by the police as stolen, has outstanding finance against it or has been written-off, making it the best way for consumers to protect themselves from fraudsters looking to make a fast profit. In addition, the HPI Check offers a Guarantee of up to £30,000 in the event of the information it provides being inaccurate or incomplete, offering added financial peace of mind to used car buyers.

Reg_date Make Model Colour Mileage Glass’s Valuation £ difference % difference
11/02/2011 VW Golf BLUE 45,000  £11,060 £2,190 25%
11/02/2011 VW Golf BLUE 90,000  £8,870
01/02/2011 BMW 5 Series GREY 70,000  £15,960 £2,580 19%
01/02/2011 BMW 5 Series GREY 120,000  £13,380
06/05/2011 Vauxhall Insignia BLACK 45,000  £10,320 £1,950 23%
06/05/2011 Vauxhall Insignia BLACK 90,000  £8,370
31/08/2011 Mercedes C-Class BLACK 45,000  £18,600 £2,240 14%
31/08/2011 Mercedes C-Class BLACK 90,000  £16,360

 

 

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