March Plate Change: What You Need to Know
March Plate Change 2014
It’s that time of year again, the March plate change brings a renewed batch of used cars onto the market, ready for buyers to indulge in. However, as activity in the used car market grows, buyers still need to protect themselves as their ‘bargain’ set of wheels may have a hidden history.
New registrations are released in March and September every year, this is when new models are revealed and the latest plates become available. Some car owners take this opportunity to trade up and many decide to sell their existing vehicles privately. If you’re buying from someone who’s decided to upgrade their wheels remember that outstanding finance is a very real concern that you will need to check before finalising any deal.
1 in 4 vehicles checked by HPI in 2013 were found to have outstanding finance owing and more than 30 per day had been reported as stolen with the police. Vehicles can be camouflaged to look attractive, yet this is the ideal time for scams such as the ‘Ghost-Car’. The HPI Check® will reveal the vehicle’s past and tell you if:
- It has a mileage discrepancy
- Has outstanding finance
- It is currently recorded as stolen
- Has previously been written off
This March plate change, don’t be fooled by glossy paintwork and nifty accessories. Used car buyers need to be aware of the risks and take steps to avoid buying a stolen, clocked or previously written off vehicle. Even though some older models may become cheaper in March, you could find yourself out of pocket if you don’t know the vehicles’ full history.
If you are currently in the market for a used car, take a look at our checklist.
|HPI’s Car Buying Checklist: