Used cars are boon to car lovers that help them in buying the best cars on their budgets. On the contrary, the process of buying them is quite challenging. It is because the used car scams around the market are alarming, and you cannot stop them. The only thing can do being cautious and escape from the dodgy sellers.
One in five used cars in the UK has significant issues and damages. It may seem threatening to many of the readers, but this the fact.
Let us know the significant scams prevailing in the used car market and ideas to get out of to invest in a best used vehicle.
What are the four major used car scams that haunt people?
The potential pitfalls of buying a used vehicle are the following.
- Used car with clocking issues.
- Selling a vehicle with outstanding finance.
- A vehicle with stolen history.
- A used vehicle with a bad car accident history. Selling a value less vehicle or scrapped one.
Apart from these, there are lots of scams that happen with virtual car buying. However, these scams are crucial and need to be concerned.
It is one common scam when it comes to a used car purchase. Clocking a vehicle is a popular process of calibrating the odometer mileage to show miles lesser than it actually covered. With the invention of the digital odometer, the process of clocking has become more straightforward that it needs a laptop and suitable software.
But is the use of clocking a vehicle? The answer is simple as that. Mileage and age are the two main factors that determine the value of any used vehicle. Hence, increasing the used vehicle’s value, clocking has become a more common method of used car scams. Also, buying a clocked vehicle is more dangerous than you think. Electronics on the car need a change or repair after specific mileage for a smoother run. If you buy a clocked vehicle and do not the original mileage, it creates unwanted clashes with the vehicle electronics. It may cause serious accidents when driven with old spare parts. Here are a few tips to overcome a mileage scam
- Look at the odometer for unwanted spacing.
- Carefully check the electrics of the vehicle.
- Go through the body condition of the car.
- Vehicle mileage check in advance of the purchase.
Outstanding finance on the vehicle:
It is no lesser than the mileage scam and happening all around. As most vehicles are bought on finance in the UK, finance scam is also emerging as a new threat to used car buyers. If you wonder what an outstanding finance scam is, then here is the answer for you.
Selling a vehicle that has a loan pending is a finance scam. It is not an illegal activity to sell a car with finance. This becomes an offense once it is untold to the buyer and makes a victim. It is also a little tough to spot a vehicle with finance on it, as the car does not have any marker about the finance pending.
The consequences of buying a financed vehicle are horrible. You will lose both the money and the car just because of a little ignorance of a vehicle check. Hence it is an easy pitfall for the buyers. Here are a few ideas to overcome a financial scam,
- Ask for the complete paperwork and finance agreements.
- Get in contact with the previous owner of the vehicle.
- You cannot expect the dealer to be honest always, so run a finance check to know the truth behind it.
Stolen car scam:
Don’t be a purchaser of a stolen car and a victim of a used car scam!
Almost 20,000 more than stolen car complaints are in 2020, and it is comparatively higher than the previous year. In which, Ford Fiesta topped first in the most stolen cars in the UK. One in three cars has reported stolen, and the motorist failed to notice it before because the seller is smart enough to hide its original identity.
The ramifications of having a stolen car worsen the situations as you have to return to its original owner if you somehow came to know about it. Or else, the police can seize your vehicle at any time, and there are only the least chances of claiming back from the insurance company. So, avoid financial loss by inspecting the vehicle before. Here, how to determine the car is stolen?
- Look at the V5C registration document and watch if it does carry a DVLA watermark. It is to discover whether the vehicle’s logbook is genuine or not.
- Check the vehicle identification number (VIN) and number plate are similar as recorded on the logbook.
- It is a red signal when the seller has no logbook or any documentation. It is because the stolen car not comes with the logbook. Don’t believe when the seller tries to keep convincing by stating the logbook sent to DVLA for updating.
- Ensure the seller or registered keeper address logbook matches with their driving license or in-service invoices.
- The great idea is to invest few bucks on the full check and have a vehicle with peace of mind.
Scrapped or written-off vehicle:
There is no fix once you bought a scrapped vehicle. Though written-off vehicles are repairable (only in specific categories), the scam around them is huge. Scrapped vehicles, in simple, are a bundle of damaged metals that wears the shape of a car. So make sure you check the below to escape from the scrapped used car scam.
- Look for any scratches and damages on the exterior.
- Look through the V5C document.
- After all, make a total vehicle check.
The one thing that stands in common with all the used car scams is a vehicle check that involves a complete inspection and gives you the feeling of contentment. Car analytics provides the best car check, and it is affordable. This blog gave you the best insights about car scams and ideas to overcome them if you consider buying one.