Aug 282015
 

hpi - EU to Outlaw Mileage Correction FirmsCar buyers have to wait until 2018 before they are protected from criminal behaviour. HPI, provider of the HPI Check®, reports that dealers firmly back proposals by the EU to introduce legislation to outlaw mileage correction firms by May 2018. The findings of a survey to HPI’s dealer community reported that 71% support the EU decision.

A further 92% of those surveyed went on to declare that dealers, who are actively adjusting odometers without declaring the act to buyers, should be sought out and prosecuted. The rising support by used car traders to address the issue of clocking follows industry calls to the Government to regulate the registering of mileages adjustments, as well as introducing more mandated occurrences of when mileage information should be collected and recorded.

Neil Hodson, Managing Director for HPI, explains, “It’s clear from our survey, that most dealers are eager to see stricter measures be put in place to tackle clocking, beyond outlawing mileage correction firms. Interestingly, 93% of dealers we surveyed said they have never had cause to adjust or correct a car’s mileage, confirming that fraud is driving this activity. The risks to traders and consumers alike are significant. A dealer who unwittingly buys and sells on a clocked car could face hefty fines and prosecution, not to mention damaging their reputation.”

Sue Robinson of the RMI adds, “We completely agree that there is a need for legislation to tackle the issue of mileage adjustment, better known as ‘clocking’. This issue is detrimental to reputable vehicle dealers and consumers alike. The Government needs to send a clear message that this behaviour is unacceptable and legislation must be changed to prevent clocking.”

Concludes Neil Hodson: “Currently, criminals out to make a fast profit can hide behind the label of legitimacy that mileage correction firms provide. Closing these firms down will ultimately reduce the number of clocked vehicles on the UK’s roads, but the changes in law are some way off and more needs to be done now to send a clear message to fraudsters that the net is closing in on them.”

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

 

 

Jul 012014
 

Mileage on Dashboard

Vehicle history experts are warning that used car buyers saw an increase in the number of vehicles on the road with a mileage discrepancy, potentially signalling a worrying trend of more dodgy sellers ‘clocking’ cars to earn extra money.

The practice of clocking a car – adjusting the mileage reading to make it worth more – has been around for a number of years, and was in fact made easier with the introduction of digital odometers which removed the traditional tell-tale signs, as well as a surge in the number of so-called ‘mileage correction firms’ popping up that would alter a vehicle’s mileage no questions asked.

However in recent years, HPI had seen a drop in the number of mileage discrepancies uncovered by consumer checks, which was a positive sign that consumer vigilance might be winning the fight against the clockers – hopes which have now been dashed with these latest statistics. In fact, based the SMMT’s used car sales figures for 2013, HPI estimates there could be as many as 486,000* vehicles with a false mileage on the road in the UK.

“But it’s not just an issue of money with clocked cars, there is also a safety concern. Any vehicle that has done a lot more miles than the owner realises could have components that have been excessively worn, even if it looks okay to the naked eye. Plus these cars are likely to have missed out on their scheduled servicing, meaning a mechanic missing vital signs of wear and tear.” Shane Teskey, Senior Consumer Services Manager for www.hpicheck.com, comments, “These are really shocking statistics and represent a worrying trend. Dodgy sellers will take advantage of any angle they can when offloading a car and clocking is one of the easiest ways they can make a fatter profit. In fact, research we conducted with CAP last year found that popular models such the VW Golf can double in value if they have 60,000 miles wound down.

In addition to confirming whether a vehicle is stolen, has been written off or there is finance outstanding, the HPI Check includes a mileage check against the National Mileage Register as standard, now with over 160 million mileage readings – making it the most comprehensive protection against buying a clocked vehicle available. 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.

Teskey concludes, “While the rise in mileage discrepancies we’ve seen is a worry, consumers can help stop the clockers by simply being more aware and conducting the appropriate checks before purchasing a used vehicle. This is one of the oldest cons in the book, simply because it is so easy to do and is so profitable, but by the same token it is easy for consumer to be vigilant and conduct a history check. If they do so we can stop dodgy sellers making a fast profit duping buyers.”