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URGENT CREDIT CARD SCAM WARNING – FOR YOUR INFORMATIONBack

HPI logoWe urgently want to bring your attention to a credit card scam that we have become aware of.

Over the last couple of weeks a number of cases have come to light where criminals have bought cars from dealers using stolen or fraudulent credit cards. These vehicles have then been immediately sold on to other dealers, before the credit card companies have identified the fraudulent activity and declined the original sale.

The speed at which these cars are being sold on means they are showing ‘clear’ on our registers until of course, the police are notified. This is a very real and current threat; franchised dealers appear to be the main targets.

There have been some common tell-tale signs between the fraud cases identified, as follows. We urge all of our customers to be extra vigilant:

  • The sellers have cold called dealers, pretending to be traders
  • The log books haven’t been registered in the name of the seller
  • The vehicle being sold has been delivered by a driver, not the seller
  • The asking price for the cars has been approximately £2,000 below CAP Clean price
  • Some payments have been made using BACS but the funds have been withdrawn before dealers have tried to take payment

It is important to note that whilst the HPI Warranty provides compensation in the event of the information we provide being incomplete or inaccurate, it does not cover fraudulent transactions which prevent good title being passed from the vendor.

Our advice is to be thorough when buying new stock, and be suspicious of any deal that seems too good to be true.

Should you have any query regarding this matter or need assistance, please contact HPI on 0845 300 8914.

Source: HPI

Posted by Sue Robinson on 20/03/2015