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WHAT ARE THE RISKS OF BUYING A USED CAR?
We have detailed below the main risks of buying
used cars -
Outstanding finance
With more than 20% of customers buying their cars on finance nowadays,
the chances that a used car that you are buying
being under a finance agreement is much higher. If you purchase a car which is still subject to a finance
agreement and the loan is either unpaid or a
balance is still owing on the finance, you cannot be classed as the owner to it.
Under the Sale Goods Act - 1979 you are not protected against
such a purchase. Therefore when buying any used car, ask the seller to provide documentation showing proof that the car's finance agreement has been settled/paid off
in full or ask for company that the finance is with and ask them to provide confirmation that there is no finance
owing. If you are buying a car and the seller claims
that there is no finance on the car, then it is worth doing a
Car Data check to make sure that they are telling the truth...
To check the car you are about to buy, click here. |
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Written-off
Is the car you are about to buy, an insurance total loss?
Look at the statistics: more than 450, 000 cars involved in an accident are classed as a total loss by insurance companies every year in the
UK. The car is a Total Loss only when
the damage to the car was so extensive that it
was not economical to be repaired.
However, some of these cars do in fact find their way back onto the road after they are repaired and sold on to an
innocent person with no knowledge of this. Depending on the severity of the damage
to the car accident and the subsequent amount
and very importantly, the quality of repair -
you and your passengers (friends or family)
could be at risk.
Insurance companies categorize the damage as
one of the following:
- *Category A: The Vehicle & All Parts should be crushed.
- *Category B: The Vehicle's parts may be salvaged, however the shell should be crushed
and the car
can never
be put back on the road.
- *Category C: The car has extensive damage, enough for the insurer deciding on not to
have the car
repaired. However the car can be
repaired (by a third part usually) and put back on the road.
- *Category D: Just a damaged vehicle that the insurer has decided
not to repair, however can
be
repaired and put back on the road.
- *Category
F: The Vehicle has been subject to fire damage
and the insurer has
decided not to repair.
- *Theft:
If the car has been stolen and
recovered,
the ownership lies with the insurer as they have
likely paid out for the car. If the car is identified,
repossession can take place even
after
having been bought by an
innocent party unaware of the car's history.
Categories marked with an asterisk (*) require a VIC
check before the DVLA will issue a new registration document for the vehicle. This is noted on the V5C, if the car you have bought has any of these vehicle data check alerts mentioned above- it will show up under a car history check.
Click here to make a car data check before you buy a car. |
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Stolen?
More than 400,000 cars are stolen in the UK every year. Depending on who stole
the vehicle you may either be getting an absolute bargain for the type of car you are
buying or you could paying the normal price for the car and have no clue whatsoever of
the car's history. If it turns out that you buy a car that had been reported stolen, you will have to return the car back to its rightful owner. You can avoid buying a stolen car
by checking it first.
A vehicle history check - Click here now!. |
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Clocked?
Ordinarily, you would expect that the
mileage reading in the car is the true mileage
of the car. Would you buy a car that has
been driven more than it shows on the mileage
reading? Some cars are clocked to hide the
real mileage that the car has been driven, to
make it more desirable to the buyer and to
increase its value. If this is the case, you may run into all sorts of problems - as we all know car parts need replacing after certain mileage. With
approximately 5% of cars in the UK being clocked - you may not be buying what you think you are.
Click here to do a data check
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Cloned?
A Cloned car is basically a stolen car which has had its identity changed to disguise its past history or origin. To
do this criminals take the identity of a
legitimate vehicle to alter the identity of the stolen one, resulting in two cars on the road having the same identity with matching
make, model VRM, VIN numbers.
Avoid this mistake by performing a vehicle history check now, click here.
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This
webpage explains in detail the risks of buying a
used car without carrying out the appropriate
checks on the car history or any car check such
as hpi check,
This
webpage explains in detail the risks of buying a
used car without carrying out the appropriate
checks on the car history or any car check such
as hpi check,
Click here to make a vehicle check now |
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