HPI warns of increased risk of fraud with proposed MOT extension
By Kyle Linsay
Tuesday, July 21, 2015 - 10:00
Following news that the Government plans to consult on extending the MoT period from three years to four, HPI, provider of the HPI Check®, warns that the risk of clocking fraud could escalate significantly. The new plans were announced in the budget, which prompted an industry backlash concerning the risk to consumer safety, if vehicles are left without an MoT for an extra year. However, HPI sees a hidden threat from clockers, who will take advantage of the extension to turn back the mileage and sell them on to unsuspecting buyers.
Neil Hodson, Managing Director for HPI, says of the Chancellor’s proposal, “There are clearly some safety concerns surrounding the idea of extending the MoT period by a further 12 months, but there is also an increased risk of fraud.
“Whilst it’s fair to assume that older cars are the most likely to have their mileage reading altered, the reality is that around a third of all cars checked by the trade with HPI are found to have a mileage discrepancy within the first three years of their life. Extending the period for a further fourth year, would see the number of pre-MoT cars with a suspect mileage, increasing, putting used car buyers at significant risk.
“Consumers may welcome the news of cost savings from a delayed MoT, but they could end up paying more than a car is worth, if they come a cropper of clocking. Turning back the miles allows fraudsters to push the price up on a vehicle. An unsuspecting buyer won’t realise they’ve just paid over the odds for a vehicle that’s done more miles than the odometer suggests, meaning more wear and tear and potentially, expensive repairs.”
Not only does the HPI National Mileage Register (NMR) contain over 200 million mileage records covering vehicles of all ages, dating as far back as 1992, it crucially holds the mileage readings of vehicles less than 3 years of age.
The HPI Check includes a mileage check against the National Mileage Register as standard. HPI also confirms whether a vehicle is currently recorded as stolen with the police, has outstanding finance against it or has been written off, making it the best way for consumers to protect themselves from fraudsters. In addition, the HPI Check offers a £30,000 Guarantee in the event of the information it provides being inaccurate, offering added financial peace of mind to used car buyers.
Neil Hodson concludes, “Buying a clocked vehicle poses a real safety threat, not to mention the additional cost of unexpected repairs. We urge used car buyers to conduct an HPI Check to make sure the mileage isn’t going in reverse. The proposed extension on the MoT offers motorists savings on one hand, but it could cost them a lot more if it gives clockers a free ride.”