posted 2 years ago

HPI Exposes Used Car Buying Myths

Used Car Buying Myths Dispelled

HPI – a company that enables motorists to research the history of second-hand cars – has dispelled the myths that can leave buyers in a world of pain. These relate to ownership, price, whether the vehicle has been written off by its insurer, and where it is best viewed.

Car Buying Myths

Myth One: Once the motorist has paid for the vehicle he/she owns it. No, this is not necessarily true. Why? Because the registered keeper is not the same as the legal owner. As such if the vehicle has been stolen – or is subject to outstanding finance - it does not belong to the purchaser. In this scenario the vehicle could be reposed and the money lost. 

Myth Two: The vehicle is a bargain price – move fast. Here, HPI stresses that caution is required. Why would a motorist sell an asset for less than it is worth? Whereas there are bargains on the market – and some sellers under value for honest reasons such as needing a fast sale - it is possible the vehicle has a serious fault or has been stolen/cloned. 

Myth Three: It is safe to purchase a vehicle in a car park, etc. No. This is risky. Why? Because if a seller wants to “meet half way” it might be to pass on a stolen or cloned car. After all, the buyer – once he/she has returned home and found the problem – has no way to trace the criminal. So, a private buyer should always inspect the vehicle at the registered keeper’s address and cross reference this information with the V5C (log book).

Myth Four – A spouse can sell a car on behalf of the wife/husband. No. Why? Because he/she does not own it and has no right to sell. It could therefore – HPI stresses – be considered stolen. This is not to say that a spouse cannot assist with the transaction, but a buyer should meet the keeper as defined on the V5C. Ask for proof of identity if worried.

Myth Five: A written-off car must be scrapped. Not necessarily. A vehicle that has been declared a total loss by its insurer is not economical to repair. This may be because the cost of parts outweighs the vehicle's value. Some cars, after all, are only worth a few hundred pounds. When a vehicle is written off it is classified by damage, i.e. Category A, B, C and D. A and B cars should be scrapped but C and D cars can be returned to the road.

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Further to graham Hayward, having worked at DVL:A for many years i can Categorically confirm its not only the young inexperienced buyer,m i have seen every age get scammed, mostly because they are greedy, thinking they have got a great deal and saved themselves several thousand pounds

It may be obvious 'stuff' but we have to consider the young inexperienced buyer.However HPI searches are not the whole answer,use the brain you have and do not be overcome by a bright shining model that you aspire to ask awkward questions of the vendor.

Obvious stuff,some people must be idiots ,scaremongering to make Hpi more profits.

Excellent info, especially regarding ABCD cat repairs/write offs!