Motor Industry News
… if you don't check you won't know!
- Guidance designed to tackle marked increase in scam reports
- Has a car been scrapped, stolen or clocked? Is any money owed on it?
- MyCarCheck.com holds up to 60 fields of data per car incl. VIC markers
MyCarCheck.com - the UK’s No.1 consumer vehicle data provider - has saved millions of people from making an expensive used car mistake. This summer its Glasgow call centre has seen ‘a marked increase in scam reports’, prompting the company to issue a list of five things used car buyers should watch out for.
MyCarCheck.com: Top 5 Used Car Scams
- Escrow fraud
- Misrepresentation (including clocking)
- Neutral location meetings
MyCarCheck.com warns that escrow fraud – where money is supposedly held by a third party – remains the No.1 tactic for criminals to target online buyers. Here is an excerpt from an email sent to a MyCarCheck.com customer last month:
“As I said earlier with that fake buyer and those notes I`m not really prepared to allow anyone else came near to my house. Here is how the process works through the Buyer Protection Program. I'm going to list it as a private auction on eBay and then send you the link, you will need to click on buy it now and just follow the instructions.”
Roger Powell, Divisional Head at CDL Vehicle Information Services (which owns MyCarCheck.com), commented: “This is a new twist on the escrow con, which works like this: you see an advert for a temptingly priced car and when you enquire about it the seller suggests you make an online payment to a third party who will hold the funds until the car is delivered.
“The crooks think up all kinds of justifications for doing things this way. Here they claim to have had a bad experience with a previous buyer attempting to pay with forged bank notes. In any case, the giveaway is the idea of paying money to a ‘trusted’ third party. Don’t do it! The car will never arrive and the funds will not be returned.”
Roger Powell commented: “Cloners attempt to disguise a stolen car’s identity by passing it off as another similar vehicle. Techniques vary in terms of sophistication, from ‘basic cloning’, like changing the number plates, to ‘deep cloning’, which involves tampering with all kinds of identifying features.”
Roger Powell commented: “Ringing is the notorious activity of buying a written-off car from a scrap yard, doing a very quick and potentially dangerous repair job, and selling it on to an unsuspecting buyer. Although the DVLA’s VIC marker scheme has been quite successful in tackling this crime it does still go on.”
Roger Powell commented: “Misrepresentation is interesting because, in the private market at least, it is not technically a crime. The term covers everything from badly informed sellers not knowing what they bought in the first place, to a whole host of professional scams. Clocking - winding back the mileage - remains a huge problem.
“Anyone buying a car privately must bear in mind ‘caveat emptor’, which is Latin for ‘buyer beware’. If you buy from a dealer you have rights under the Consumer Protection From Unfair Trading Regulations 2008. If you buy privately and the car turns out to be not ‘as described’ then getting redress can be difficult.”
Neutral location meetings
Roger Powell commented: “You might think the phrase ‘we can meet in that car park’ would set the alarm bells ringing, but a lot of people fall for it. There are enough potential pitfalls in buying a used car without adding a neutral location into the mix. At least if the place you meet the seller matches the address on the logbook that provides some reassurance.
“A car is usually the second most expensive thing you buy in your life, after a house. You wouldn’t buy a house without getting a survey done, so why buy a car without spending just a few quid checking the history and value? We are the UK’s No.1 consumer vehicle data provider and we can confirm in seconds whether a car has ever been scrapped, stolen, clocked or has any money owing on it.”
For further info on ‘Buyer Beware’ visit:
Over the last couple of years, MyCarCheck.com, MyMotorCycleCheck.com and MyTextCheck delivered around 4.5m consumer checks including those via AutoExpress and WhatCar?
We use up-to-the-minute data from the Police National Computer (PNC), the Driver and Vehicle Licensing Agency (DVLA), the Association of British Insurers (ABI) and major finance houses including Lloyds TSB and Santander.
Our information is trusted by the UK's leading brands. MyCarCheck.com’s parent company, CDL Vehicle Information Services, performs around two million look-ups a week for companies including CompareTheMarket, Confused.com, Go-Compare, Moneysupermarket, Swiftcover and Tesco Compare.
Know what you’re getting into: MyCarCheck.com