Reputational Risk a Clocking Conundrum for Dealers release Thursday 29 October 2015 PDF Print REPUTATIONAL RISK A CLOCKING CONUNDRUM FOR DEALERS HPI urges dealers to protect themselves from the risks www.hpi.co.uk Over 70% of dealers surveyed by HPI, the automotive technology solutions provider, are concerned about damaging their reputation by inadvertently selling on a clocked vehicle. With 1 in 20 cars checked with HPI recorded as having a discrepant mileage, dealers are right to be fearful of clocked cars. Also high on the list of concerns is the safety risks dealers expose customers to by selling on a clocked car. Interestingly, the threat of a judicial sentence is a relatively low concern by comparison, despite the fact that selling on a vehicle that has a wrong mileage reading would be a ‘false trade description’ and therefore could constitute a criminal offence. A false trade description or a failure to comply with the Consumer Protection from Unfair Trading Regulations 2008, is a breach of the law. The advice from HPI is simple; always investigate a vehicle’s mileage by checking with all previous registered keepers, as well as service records. A thorough mileage investigation has been shown to provide a sound legal defence in clocking cases. Although checking against previous MOT records is advisable, dealers should beware, clockers are known to legitimise false readings on www.gov.uk. Dealers should never rely on a single source to validate a mileage and crucially, they must not rely on mileage disclaimers as a substitute for carrying out proper checks. Over 30% of dealers surveyed by HPI said they use mileage disclaimers as standard. Neil Hodson, managing director for HPI explains: “A sound mileage verification strategy, which is backed by a thorough investigations process is not only best practice, but can provide dealers with a sound legal defence. Anything less leaves dealerships, their customers and their reputation, at the mercy of clockers.” Gerald Taylor, a lead officer for motor trade at the Chartered Trading Standards Institute, concluded: "All responsible car dealerships should implement a due diligence policy to prevent selling clocked cars, regardless of whether they are franchised or independent. The policy should be in writing so that all staff know what their responsibilities are and all non-verified odometer mileage readings should be disclaimed using pre-printed disclaimer stickers available from HPI”. Dealers can help protect their business and their bottom line by using HPI’s National Mileage Register (NMR). Not only does the NMR contain over 200 million mileage records covering vehicles of all ages, dating as far back as 1992, it critially holds the mileage readings of vehicles less than 3 years of age. These have been sourced from the likes of manufacturers, as part of their warranty offering, and leasing companies’ service records and disposal declarations. END October 2015 For further information visit www.hpi.co.uk/trade or call 0845 300 8914 Follow us on Twitter @ www.twitter.com/HPI_Trade Notes to Editors Charlotte Hart, Madeleine Roles, Ally Redding or Justine Hoadley HSL Email: firstname.lastname@example.org 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 200 million mileage readings. Together, HPI and NMR represent one of the UK's largest vehicle information sources, 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 2nd January 2015 (2) Mileage Data is not covered by The HPI Guarantee (3) *The HPI Guarantee is subject to terms and conditions This press release was distributed by ResponseSource Press Release Wire on behalf of Harrison Sadler in the following categories: Motoring, Business & Finance, for more information visit http://pressreleasewire.responsesource.com/about.