I've just carried out an HPi check on a car I was intending to buy at a big auction tomorrow. It's a finance repo and it's showing as owing finance still which I guess is understandable until the finance co receive the funds.
More worryingly though, it is also coming up as being recorded on the 'Security Register' - I hadn't even heard of this before but apparently car rental firms put their own cars on there to stop them being offered for sale illegally.
The car I am interested in is nearly 10 years old though so I have no idea why it would be on the HPi Security Register - do you think it could be an admin error?
I'd greatly appreciate any advice/whether anyone else has had a car on this register.
Do some finance companies put their cars on the Security Register and take them off once the finance is paid? I would have thought this unnecessary as the car will always show up as owing finance so there's no need to put it on the Security Register too.
I've got so fed up with buying cars at auction that show up on finance/mileage discrepancies that I HPi them before buying them now! Once you buy at the auction, there's never any comeback as they will just say it's an admin error on Hpi's part and it's up to me to sort it.
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ring hpi up
last time i bought a car with this marker on from an auction the police came to my gaff to arrest me
i wasnt best pleased as an understatement
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I am very sorry to hear that, that's a complete nightmare. I don't think I'll be bidding on that car tomorrow!!
I just find auctions can be a bit of a nightmare as several warranted mileage cars I've bought have showed mileage discrepancies and it takes weeks for HPi to remove the discrepancy even if it's something blatantly obvious like 550,000 rather than 5,500 miles when the car was 6 mths old!
I'm getting to the stage where I HPi every car I'm interested in before attending the auction! Sounds paranoid but solves a lot of stress. Apparently the auctions use Experian as it's cheaper but some cars that are clear on Experian aren't clear on HPi!
I only wish the auctions would check every car with HPi before offering for sale - I bet if they checked them and found problems they could get HPi to clear up errors a lot quicker than individuals can!
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they use your indemnity payment to do the hpi after the event
sometimes the day after you paid and took the car
one operater i used to use put all the indemnities in a big pot and paid any claims out of it
he retired very nicely but his bed was lumpy underneath
the security register marker may be out of date i still suggest you ring hpi if you like the car
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This is what HPI says about the Security Register. (my bold)
This register typically records vehicles at high risk of fraud or theft (e.g. hire cars, demonstrator vehicles and garage forecourt stock). The Security Watch register is primarily used by the Police, finance companies and the motor trade, to ensure that these vehicles can be traced if someone steals them or attempts to sell them fraudulently (for example - perhaps without first settling an outstanding agreement). The registering party will be alerted that an HPI Check has been made, and they should contact you within the next working day, but do contact us if this is not the case. Please note that you should not purchase a vehicle that is recorded on this register, unless you subsequently receive confirmation that it is all clear from either the registering party or us.
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Many thanks for the reply. I contacted HPi who said that the registering party should contact me within an hour but I didn't hear from them. I've decided against bidding for the car tomorrow, I've spent far too long in the past trying to get HPi to remove mileage discrepancies that were reported in error so I can do without the stress of buying something on the Security Watch register.
I even once tried to sell a car after owning it a year only to lose the sale as it was showing finance on HPi that was actually paid off in full 18mths before! Sometimes I wonder just how many cars are really offered for sale with finance owing, I'd bet that the vast majority have been paid off but are showing as owing finance incorrectly. 1 in 3 cars may well come up with a problem on the HPi register but I bet 9 out of 10 are only on it as HPi hasn't updated the register.
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