Mar 252015
 

odometerReducing the mileage of a Ford Fiesta, the bestselling vehicle in the UK in 2014, from 90,000 to 30,000 adds £1,875 to the price tag, up 35%*

Range Rover Evoque sees the price tag increase by £4,250 after clocking, an increase of nearly 20%*

The popular VW Golf rises by nearly 40% and the Nissan Leaf electric car sees a rise of 36%*

Sportier models, such as the Mazda MX 5 convertible see their values increase by 36% after clocking, whilst the prestigious Audi A3 could see its price tag rise by 30%*

*all of the above figures are based on reducing its mileage from 90,000 to 30,000 miles

Clocking continues to pose a real threat for used car buyers, including dealers and their customers, warns HPI. To highlight this, HPI has joined forces with CAP Automotive, the premier provider of vehicle values, to lift the lid on just how much dodgy sellers stand to make from a clocked car, conning dealers out of profit and risking both their reputation and legal repercussions.

Neil Hodson, Managing Director of HPI comments, “According to the latest SMMT figures, the Ford Fiesta was the bestselling vehicle in the UK in 2014, with 131,254 new car sales made. However, according to CAP figures, fraudsters are increasingly cashing in on the popularity of the family car, with clocked models potentially earning them up to 35% on the price tag. That means unsuspecting used car buyers could lose £1,875 on a vehicle with an altered mileage.

“The CAP figures show that, perhaps surprisingly, it is the lower value vehicles that see the biggest percentage increase from mileage correction, making them more attractive to fraudsters. For example, hatchbacks like the VW Golf can garner a whopping 40% profit for clockers who fraudulently take 60,000 miles off the clock. The result is an extra £3,000 which comes straight out of an unlucky buyer’s wallet.”

Protect yourself against those unexpected repair bills with an Extended Warranty from Warranty Direct Ltd. Protecting your car against the cost and hassle of unexpected failure couldn’t be easier.

Nov 282014
 

Ruppert'sLandieThe run-up to Christmas is the perfect time to buy a used car, as dealerships get quiet around the festive season, advises HPI. Savvy used car buyers will know that prices start to creep-up in January so those looking to bag a bargain should be looking to buy now. Whether buying from a dealer or from a private seller, before parting with their hard-earned money, bargian-hunters should get the vehicle checked and follow HPI’s top tips.

Senior Consumer Services Manager, Shane Teskey at HPI says, “Winter may not seem like the obvious time to buy a car, but that’s why it’s ideal for anyone looking for a bargain. As shoppers turn their thoughts to Christmas gifts, sales of cars slow down, meaning there are deals to be struck. However, used car buyers need to do some research and go in knowing exactly what they want.

“At any time of year, consumers need to be aware of the risks and take steps to protect themselves. Buying a car with outstanding finance remains the biggest risk, but 1 in 20 vehicles checked by HPI have a mileage discrepancy. Dodgy sellers can turn back the clock and add hundreds or even thousands to the price tag. Not only could buyers pay over the odds, but the vehicle could have more wear and tear than expected, or in need of repair, sooner than they thought. In addition, we find 30 cars per day reported as stolen, putting car buyers at risk of losing all their money on a car that belongs to someone else. With this in mind, we urge buyers to get any potential bargain checked at HPI, as that’s the best way to ensure it’s a dream machine with nothing to hide.”

Don’t Get into the Drivers’ Seat

The seller can smell a sale, once a buyer sits in the driver’s seat. This is where your emotions take over and you start imagine yourself driving that car, which makes it hard to think with your head. Instead of getting inside, ask the dealer to drive the car out, so you can look at it from all angles.

See the Light

Vehicles can look a lot more attractive in low-light, especially those which have a few dents here and there, so try to view the vehicle in daylight or at least under a very good light source. Take a torch. A good light source will also help you check under the bonnet to ensure chassis numbers match the car’s documents.

Do the Colours Match?

Check the bodywork to see if there is any variation in the shades – even very subtle differences – this normally tells you the car has been worked on. Ask why this is.

Check the Bodywork

Most modern cars have bolt-on panels. Check the bolts under the bonnet. If the paint is chipped on the bolts, it may mean the panels have been modified in some way. Ask why this is – it may give an indication of the car’s accident history.

Do the Air-conditioning and Sat Nav Work?

In the middle of winter, it’s easy to forget the air-conditoning, but you’ll be kicking yourself if it’s not working, once summer arrives. If the car has an integrated sat nav system, make sure it works. Make sure the disc is present, enter your home postcode and make sure it would get you there.

Take the Test

Winter with its cold, damp weather presents unique challenges when it comes to test driving a used car. However you should try to drive as you would in the summertime, take the vehicle up to speed then hit the brakes to test the ABS (when it’s safe to do so). When braking, see how straight the car comes to a stop, as pulling in one direction can indicate brake or alignment problems. Also try taking the car to a large car park and see how it handles on areas where black ice can appear.

HPI Before You Buy

Check the service history and then conduct a vehicle history check at HPI to gain a full picture of the vehicle’s status, ensuring it’s not a banger masquerading as a bargain.

Haggle

Remember, the price on the sticker is only the starting price. Take the price of the defects you’ve spotted off of this price for a start.

Shane Teskey concludes, “With a little preparation, used car buyers can approach any seller ready to drive a hard bargain. Whatever their budget, we recommend conducting a vehicle check at HPI– this way buyers can reduce the risk of splashing their cash on a car that turns out to be a nightmare on wheels.”

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