Vehicle database company HPI have revealed figures for 2011 which show that one in three vehicles checked by the organisation last year had something to hide, and that buyer vigilance is still important when looking at purchasing a used car.
"If it looks too good to be true, it probably is", said HPI Consumer Director Karen Welch, "As our latest figures show, innocent buyers continue to be caught out by fraudsters. Don't take the risk, an HPI Check report can give real protection."
The study showed outstanding finance continues to be the largest threat posed by unscrupulous sellers, with one in four vehicles checked by HPI in 2011 having outstanding finance agreements on them. This could lead to a new owner becoming liable for the outstanding finance, risking the loss of both the vehicle and the money they paid for it.
Last year, an average of nineteen stolen vehicles per day were uncovered through HPI checks, with the database cross-referencing information from the Police National Computer.
4% of vehicles checked by HPI last year came back as 'total loss' insurance write-offs. While some cars written-off by insurance companies can be safely repaired, others will have been intended to have been scrapped.
The figures from HPI also revealed that one in twenty cars checked by them last year had had mileage altered. Known as 'clocking', disreputable sellers use this to inflate the value of the vehicle, but in addition it could result in unsuspecting buyers missing important service intervals.
In addition, a fifth of vehicles checked by HPI in 2011 had had a number plate change. While this can be a perfectly innocent way to personalise a car, it could also be used to hide a vehicle's murky past.
