Data released by Hire Purchase Investigations (HPI), the vehicle history experts, has shown that clocked vehicles are much more common in the UK than originally estimated. In fact the study has revealed that a staggering 1 in 17 vehicles in the UK have been clocked.
This is a huge jump from the 1 in 39, which was the original estimate from the Vehicle and Operator Services Agency (VOSA).
According to HPI, their shocking figure, of 1 in 17, is much more accurate than that of VOSA, who exclude vehicles less than three years old, and vehicles with MoT’s carried out before 2005.
HPI are keen to highlight the issue to dealers and motor traders, making sure they are aware that the problem, unfortunately, is much worse than originally anticipated. In fact, dealers are being encouraged to seek professional advice to ensure they are not caught out by such unscrupulous activity.
Daniel Burgess from HPI believes that the problem of clocked cars is largely down to the ease in which vehicle mileage can be adjusted now, using tools and equipment, which are readily available on the Internet. He goes on to say, “Consumers are just as likely to be clocking the cars as unscrupulous traders, doubling the danger to dealers”.
He goes on to explain to dealers that the Office of Fair Trading will not accept mileage disclaimers, and that real proof that a dealer has done everything in their power to validate a vehicles mileage is now required. This is perhaps another compelling reason why motor traders should consider using an expert in this field.
Burgess claims “A sound mileage verification strategy which is backed by a thorough investigations process is not only best practice but can provide them with a sound legal defence”.
At Think Insurance, we feel it is important that dealers and motor traders are aware of how common this problem has become. We would urge all dealers to implement strategies to safeguard themselves against this fraudulent activity to ensure future success for their businesses.