If you are looking to buy a Volkswagen in Suffolk during the Christmas break then please be careful of the people who take advantage of this festive period. According to HPI 1 in 4 cars has a hidden history and can come to back to bite the new owner. Some of us will be very lucky this and receive a car as a Christmas present and the last thing we want is to then realise that the car is stolen or not as described.
Nicola Johnson, Consumer Services Manager of HPI said, "Santa will be delivering a car as a gift to the garage or driveway of some lucky drivers this Christmas, but despite it being the festive season, buyers should still proceed with caution. According to the latest analysis of HPI data, nearly 1 in 4 vehicles checked by HPI is still on finance, meaning it belongs to the finance house."
According to HPI there are five top risks elements to look out for when buying a used car not just during Christmas but throughout the whole year.
Outstanding Finance " This is the most common risk faced by used car buyers with nearly 1 in 4 vehicles checked by HPI having outstanding finance. Most car finance arrangements mean that the car is owned by the finance house until the sum is settled, which means if the car is sold with finance still remaining the car is still legally owned by the finance company.
Plate Change " Over 1 in 5 vehicles HPI checks have had a plate change, which could be for legitimate reasons, but this could also be fraudsters hiding a stolen or cloned vehicle.
Stolen" HPI discovers around 19 stolen vehicles a day. Many are sold as 'bargains' to buyers. If the price seems too good to be true then double check all the paperwork, if you are not sure then walk away.
Insurance Write Offs " Every year nearly half a million cars involved in accidents are declared by insurers to have been too badly damaged to ever be repaired safely and go back on the road. Some of these however still find their way back on to the road with 4 out of every 100 vehicles checked by HPI found to be written off.
Clocking" 6 in every 100 vehicles checked by HPI have a mileage discrepancy. By reducing the mileage of a vehicle, sellers can attract more buyers and get more for the car. Always try to trace back the mileage as far back as possible.
Author Resource:-
Joanna Small - Automotive Journalist and Enthusiast
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