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The importance of history checksBack

This week, Experian has revealed that history checks by automotive trade companies between the months of April and June this year showed that 26.1 per cent of used cars still had outstanding finance.

Information services company, Experian, has sited that outstanding finance continues to be the main risk factor for car dealers when they purchase used vehicles, with other risks high on the agenda including ‘write offs’ and ‘stolen vehicles’. In fact, of the vehicles checked, 3 per cent were recorded as ‘written off’ with three in every thousand vehicles found to be stolen.

This may be the reason why the total number of vehicles being Experian checked by motor retailers in the second quarter of 2012 has increased by 13 per cent in comparison to the same three month period last year.

Outstanding finance is not the only issue prevailing the motor industry, which is why vehicle information company HPI is also urging its dealers to join motorists in the fight against correction firms. In protest, HPI has launched an e-Petition to DirectGov to close down mileage clockers. HPI checks have revealed that as many as one in twenty cars have a discrepant mileage, a figure which has risen by 10 per cent in the past five years.

Daniel Burgess, HPI managing director, said: “While there is rarely a legitimate reason to alter the mileage on a vehicle, Trading Standards estimates there are 50 mileage correction firms operating in Britain.

“Some of these companies will be exploiting a legal loophole that could help unscrupulous sellers make a fast profit at the expense of dealers and consumers alike. We’re calling for a change to the law and dealers should be too. Our e-petition will give motorists and the motor industry a chance for their voice to be heard.”

At Trusted Dealers, all of the used cars advertised on our website have benefited from a HPI or Experian check providing added peace of mind to all of our customers when they buy cars. The checks not only confirm that a vehicle does not have outstanding finance, but will also reassure buyers that the car is neither lost nor stolen.

However, at Trusted Dealers we do not stop there. We also offer all of our customers our very own unique 10 Points of Difference promise which is designed to really make a difference to the way that our customers feel about their buying experience. The 10 Points of Difference is a thorough service which includes theft and write off checks, making sure a warranty is included with all of the cars we sell, offering a part-exchange service to customers if required, and providing mileage checks.

Watch the 10-Points of Difference video located on our home page to gain further information about how you can benefit from buying a used car through our team of dedicated sales professionals.

 

Posted by Leana Kell on 25/10/2012