Car checking company HPI, who recently entered the vehicle finance market, have warned that although the recession may tempt consumers to cut corners to save money, buying unknown used cars remains a great risk.

Research by HPI confirms that one out of every three used cars has something to hide. Buying a car with outstanding vehicle finance, for instance, poses a serious risk to the consumer.

Consumer Services Manager at HPI, Nicola Johnson, reportedly commented: Even though the 1 in 3 statistic has not changed for a number of years now, we are definitely seeing a shift in the types of car fraud being used to dupe the unsuspecting buyer. Consumers still need to take simple precautions to protect themselves from buying a stolen, written-off or cloned vehicle. Used car prices for some types of vehicles have hit record lows and there are some great bargains to be had from legitimate sellers, but buyers should be wary of a deal that seems too good. We do urge buyers not to take a bargain at face value. They should conduct some simple checks to be sure of the facts, however, as the old saying goes, if a deal looks too good to be true it usually is.