Vehicle Theft Down 12 Per Cent

The latest Home Office statistics reveal that vehicle related thefts fell by 12 per cent in the year to June 2008. However, HPI is warning used car buyers to remain vigilant, as criminals are turning to ever more sophisticated ways to con individuals out of their money. Car crime covers more than just theft and HPI  is offering advice on the latest tricks to avoid becoming a victim of a dodgy seller.
Nick Lindsay, director of HPI warns: “Although it’s encouraging to see that vehicle related thefts are down by 12%, HPI Checks still reveal around 30 stolen vehicles a day and many of those may be sold on to unsuspecting buyers looking for a bargain. In the current climate, whilst theft might not be as big a problem as in the past, fraud is still a major issue. Outstanding finance is the biggest threat facing used car buyers, with 24 out of every 100 cars checked by HPI still subject to a finance agreement, and this figure is likely to increase as we head towards recession and people find they need to get hold of cash quickly. Many people may not realise that if they buy a car still on finance, they stand to lose both their money and the vehicle, which still belongs to the finance house.”
HPI warns that criminals are getting more savvy, they are finding ever more ingenious and sophisticated methods of defrauding unsuspecting buyers, and the cloning of vehicles (applying a vehicle identity to another vehicle so that two identical vehicles end up on the road) leads this charge. Buyers should be wary of missing number plates, incomplete vehicle documentation (V5, MOT and service history), and a substantially discounted price point. Buyers looking for advice on how to avoid buying a clone can check out the advice on the HPI website, and invest in an HPI Check which includes as standard a unique V5 document check, and Guarantee cover to protect against buying a clone.
Clocking is another major risk for used car buyers, with seven out of 100 checks against the HPI National Mileage Register showing mileage discrepancies. A clocked car will have had its mileage lowered, increasing its value to unsuspecting buyers. However, a vehicle with a dodgy mileage reading could be hiding wear and tear, leading to expensive mechanics bills or could even be dangerous.
Nick Lindsay, director of HPI adds: “The HPI Check offers used car buyers the peace of mind that their potential dream machine doesn’t turn out to be a nightmare on wheels. Used car criminals are frequently turning to more and more ingenious ways to pull the wool of over the eye of unsuspecting consumers. Vehicle theft may be down, but fraud continues to be a big threat, and HPI’s Guarantee is the only one to include a V5 document check as well as offering protection against the increasing risk of purchasing a cloned vehicle. HPI’s vast database of information offers buyers instant verification of a vehicle’s status, closing the net on the criminals. HPI Checks are available at www.hpicheck.com/ from just £19.99. “
Simon McBride

Author: Simon McBride, November 10, 2008
Filed under: Department for Transport,General interest,HPI Limited

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