[May 09, 2013] Used car buyers are falling prey to online scams warns HPI Tweet May 09, 2013 (M2 PRESSWIRE via COMTEX) -- Leading vehicle information provider, HPI, understands how confusing it can be for online used car shoppers to determine whether the vehicle they're looking at online represents good value or not. Bagging a bargain via the internet should be the norm but the reality is that it comes with its own risks. HPI urges used car buyers to be aware of online scams catching out unsuspecting consumers today. "The latest Google research* shows that a massive 74% of people in the UK now use the internet to find their next used car and visit an average of 18.2 sites, over a three month period," says Nicola Johnson, Consumer Service Manager for HPI. ""Internet shopping is fast, easy and convenient, but beware; online scammers are on the loose with a range of sophisticated tricks, all of which are designed to 'con' innocent motorists out of their hard-earned cash. "Online sellers will often come across as friendly, offering to make the sale as easy as possible, while at the same time offering a bargain. It is little wonder therefore that many buyers are keen to rush into a purchase. However we urge them to use their head, not their heart, and conduct all the right checks before parting with their money." An increasingly popular trick to con online buyers is the 'Virtual Car Seller' or 'Escrow Con'. It starts with an advert on a website, with a seller who has a car for sale at a knock-down price. The seller is usually based abroad and claims they need a fast sale, so the vehicle is already with a shipping company. Without viewing the car, the buyer is asked to transfer money to a third-party ('escrow'), who will hold it until the vehicle is delivered. Nicola Johnson warns "Never buy a vehicle you've never even seen. It's easy to be swayed by a rock bottom price, but no bargain is worth the risk. Put yourself in the sellers position: would you ship the car to a buyer at your own expense, sell it cheaply, and offer to ship it back at your own expense if the buyer doesn't like it HPI sees frauds like this on a depressingly regular basis. An HPI Check is crucial in protecting consumers against the threat of falling victim to this fraud." Another potential danger when buying online is 'cloning' -- identity theft for cars. Criminals steal a car and give it a new identity copied from a similar vehicle already on the road. The criminal will disguise the unique 17 digit Vehicle Identification Number (VIN) on the stolen car, as well as using a stolen V5/logbook to try to legitimise its identity. Nicola Johnson adds, "This scam is commonly used by online sellers, and consumers who buy a clone stand to lose the car and their money, once the vehicle is returned to the rightful owner." As well as confirming whether the car is currently registered as stolen, has been written-off, or is on finance, the HPI Check also protects buyers with the HPI Guarantee(3). This provides up to GBP40,000(3) financial reimbursement in the event of the car not being everything it seems -- including a clone. HPI's Top Tips for Online Used Car Buying - Shop Around -- compare prices on the car you're considering through other classified website so you get a feel for the marketplace. These sites will give you an idea of the price you can expect to pay for a particular make and model. If you find a vehicle that appears to be cheap, you need to find out why, and be on your guard. - Verify the Seller's Credibility - check out the seller's history by reviewing the ratings from other sellers to ensure you're dealing with someone who will deliver the car according to the terms you are offered. - Narrow Down the Options -- Create a short list and do an HPI Check on the vehicles you're seriously considering - Always Arrange to Test-Drive the Car - arrange to meet the seller in person at a safe location -- preferably at their home address if buying privately, to test-drive a model of the car you're considering. Make sure you put the car through its paces by driving on a variety of roads and don't just take it for a spin around the block. - Before you part with your cash, make sure you cross reference the VIN with the VRM to make sure they match. - Paying Online - if you're buying online, or even just making a deposit, ensure that the website is secure -- pay with a credit card which will help should the worst happen -- in the event of fraud. END May 2013 For further information visit www.hpicheck.com or call 0845 300 8905 Follow us on Twitter @ www.twitter.com/hpicheck *Source: http://www.whatcar.com/car-news/google-reveals-changing-used... Notes to Editors: Dominic Dennis, Madeleine Roles or Justine Hoadley HSL Email: [email protected] Tel: 0208 977 9132 About HPI: Originally established in 1938, HPI Limited is a primary source of vehicle information for the UK motor industry and motoring consumer which, since December 2008, has been owned by Solera Holdings, Inc. Solera Holdings, Inc. is an integrated group of leading automotive claims solutions companies. Founded in January 2005 by Chairman and Chief Executive Officer Tony Aquila, Solera has expanded its geographic reach and now serves more than 55,000 business customers in over 50 countries across six continents. HPI encompasses both the HPI database of all UK road registered vehicle descriptions and histories, and the National Mileage Register (NMR) which holds in excess of 150 million mileage readings. Together, HPI and NMR represent the UK's largest vehicle information source, combining and interpreting data from government agencies, industry bodies, private organisations, the police and the general public. Registering with HPI helps companies to protect their financial interests in motor vehicles and a wide range of other mobile assets. HPI Checks give purchasers instant confirmation of whether vehicles are correctly described, known to be subject to outstanding finance or serious accident damage, or recorded as stolen or "clocked". 'HPI' and the HPI logo are registered trademarks of HPI Limited. (1) All prices include VAT and are correct as of 4th January 2013 (2) Mileage Data is not covered by The HPI Guarantee *(3) The HPI Guarantee is subject to terms and conditions and the level of cover varies depending on the HPI Check conducted. The GBP40,000 cover is available with the HPI Premium Check. ((M2 Communications disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.com on the world wide web. Inquiries to [email protected]. [ Back To TMCnet.com's Homepage ]