New cars: Watch out for these depreciators or lose out
22 Feb 2012
For an initial check, all you need is the registration mark, but for a complete check you will need your vehicle identification number (VIN), the mileage and your V5 registration document issue date and serial number. The details of your car are then checked against a huge variety of records to make certain of its legitimacy, status and mileage.
Outstanding finance is the greatest risk. When a loan is unpaid and a new buyer purchases the vehicle, they do not acquire the title and will not effectively own it. Cars sold in the used-car market can have been written off by insurers, but still make it back onto the road. Many cars are stolen each year, and these are often sold as bargains. Cars that have had their mileage changes (clocked) are also common, as are cloned vehicles that have been stolen and disguised as another vehicle.
Who are HPI?
HPI have been checking the histories of used cars since 1938. They are the original, and regarded by many as the best. They have access to more car data than anyone else, and are true experts in this field.
