Vehicle data firm HPI has warned consumers to check out the background of any used car they are considering buying after its analysis showed that one in three have a potentially hidden history.
After looking at more than 10 million checks it had carried out,HPI said that outstanding finance was the biggest danger for would-be buyers, with one in four cars still having money owed on them. Anyone purchasing a vehicle becomes liable for unpaid credit and could see their purchase reclaimed.
A total of 19 vehicles every day are found to have been stolen during HPI checks, while other potential dangers include purchasingcar insurance write-offs that have been illegally repaired and could prove dangerous on the roads.
Vehicles that have been clocked - where the mileage is 0ly reduced to raise the car's value - also turn up during HPI checks. Owners of such models are privy to late essential maintenance and potentially critical damage to the model.
HPI consumer director Kristian Welch said: "As our latest figures show, innocent buyers continue to be caught out by fraudsters. If it looks too good to be 1, it probably is. Don't take the risk."
Copyright Press Association 2012