HPI, the leading independent vehicle information provider, reveals that nearly 70% of used car buyers believe they are more vulnerable to buying risks by purchasing a vehicle online. These are the figures from HPI’s latest survey on online car buying habits and shows that 60% of respondents fear fraud the most. Although consumers are aware of the hidden dangers of buying online, HPI warns buyers to back buying decisions with thorough research.
The HPI survey showed that 71% of respondents thought choice was one of the main benefits of buying a car online, with 63% stating convenience as a bonus. In contrast, 62% said fraud was the main downfall and nearly 70% thought they were more at risk from used car crime when buying online. Two out of three people believe not being able to see the car before they buy as a downfall of buying on the internet.
“Our survey reveals that car buyers are wary when buying online, however, only 48% would be more likely to carry out even the most basic of checks, such as an online valuation,” says Nick Lindsay, Director of HPI. “Checking the market value of a vehicle can be a quick way to identify if the car is a true bargain or not. If a seller is looking for a quick sale it could well be because they have something to hide. If the price seems too good to be true, it usually is and we advise buyers to walk away.”
Used car buyers can access an HPI Valuation* instantly online or via SMS, making it easy to check a car valuation at any place, any time. Simply text the keyword VALUE to 80160 together with the VRM or registration number and mileage details and a text message will be sent back confirming the car description and valuation.
Nearly all of those surveyed - 98% - recognised the importance of conducting an online HPI Check**, which offers used car buyers the ultimate peace of mind. The HPI Check will confirm the vehicle description, whether it is currently recorded as stolen, has been written-off by an insurance company or is subject to outstanding finance. It also includes a mileage check, using HPI’s National Mileage Register of over 125 million mileage readings, providing access to the most comprehensive database. In addition, a V5 check is included as standard, which will alert you to any fraudulent activity.
Nick Lindsay concludes, “There’s good news for sellers, because 45% of those surveyed said they would be prepared to travel over 100 miles for the car they wanted, having done all the necessary online checks to ensure it was worth the journey. For those looking to sell online, internet auctions such as eBay and online classified ad publications such as exchangeandmart.co.uk continue to be the most popular sites for those shopping online.”
Get a data check from HPI