Automobile dealers forced to battle for used automotive stock are being warned to take extra care as recent evaluation by vehicle history checking company CarVertical suggests that one in 14 used cars under five years old have incorrect or falsified mileages.
One to five-year-old Nissans are essentially the most commonly clocked nearly-new vehicle, with almost a fifth (18.9%) of them checked by CarVertical showing a discrepancy between their odometer and recorded mileage.
Renault (16.1%) was the following commonest brand for clocked nearly-new cars, followed by Peugeot (15.8%).
CarVertical suggests that digital dashboards, coupled with the prevalence of mileage-related motor finance arrangements comparable to leasing and private contract purchase which charge penalties for exceeded mileage limits, have played into the hands of unscrupulous businesses that are in a position to electronically change the recorded mileage.
Mileage correction services are controversial but not illegal. Falsely lowering a used vehicle’s mileage can inflate its sale price by as much as 25% and may result in much higher maintenance costs, as clocked cars which have been driven more miles than it appears may have also sustained more wear and tear.
Overall, 9.6% of cars checked on CarVertical over the past 12 months to September were found to be clocked.
With around 1.8 million used cars changing hands each quarter in 2023, the information company claims that around 690,000 drivers are vulnerable to becoming a victim of mileage fraud this yr alone.
CarVertical’s data shows that the typical one-year-old used automotive has 20,742 miles on the clock. Three-year-old cars have been driven for 32,111 miles on average, with five-year-old vehicles travelling for 48,629 miles.
Matas Buzelis, automotive expert at CarVertical, said: “Any automotive that has been driven for a lot of more miles than it appears may have more wear and tear and are more vulnerable to mechanical problems.
“They can even not be price as much money — potentially leaving the brand new owner out of pocket if they struggle to sell it later.
“A automotive’s mileage is a vital determining factor of how much it’s really price.”
In 2020, Peterborough-based Shaffarat Parvez of Cromwell Road, Peterborough, the director of independent used automotive retailer Carpoint at Fengate, was handed an 18-week suspended jail sentence in relation to automotive clocking offences.
Parvez pleaded guilty to 3 counts of fraud and one count of contravening skilled diligence ahead of a hearing at Peterborough Magistrates’ Court.
The court heard the then 31-year-old had admitted altering the mileage of a Vauxhall Corsa and Astra offered on the market from Carpoint.
Parvez was also ordered to pay £6,529 costs and a victim surcharge of £115 at this week’s hearing.
Carpoint, which pleaded guilty to the identical charges, was fined £4,000 and ordered to pay £10,000 costs and a £115 victim surcharge.
This Article First Appeared At www.am-online.com