COVID-19 social distancing measures are placing sellers at a better danger of fraud within the part-exchange course of, in response to Cap HPI.
Wendy Swaine, head of gross sales retail accounts on the he automobile valuations, information and know-how enterprise, mentioned that checks of the bodily automobile and related documentation ought to nonetheless be “rigorously accomplished” to keep away from potential fraud.
The recommendation comes as growing numbers of shops embrace digital gross sales platforms permitting part-exchange value determinations by way of a video hyperlink or by means of a prospects’ submission of auto photographs.
Swaine mentioned: “Now we have seen the introduction of social distancing guidelines create a bent to loosen the care taken in finishing each the bodily appraisal of the automobile and a radical verify of the possession paperwork. Sadly, this places the seller at larger danger of fraud.
“Finishing an applicable inspection of each the bodily automobile and related documentation could take a barely longer time to finish to adjust to social distancing however the time spent is price it.
“This cautious evaluation ensures that sellers usually are not shopping for a clone, not shopping for from the registered keeper, or underneath/overvaluing the automobile.
She added: “It’s important that sellers have in place a course of the place the automobile could be inspected and appraised correctly earlier than any monies change arms, making certain they’re coated by the HPI guarantee and decrease their danger of being caught out.”
Cap HPI has issued the next checklist of automobile appraisal ideas to assist retailers managing danger within the part-exchange course of:
- Verify the VIN in a number of places to assist defend in opposition to clones. Ensure the VIN plate just isn’t unfastened or tampered with in any method, or coated with a duplicate sticker.
- Be certain that all documentation is verified. It’s important to see the unique V5, a number of proofs of identification, and it’s endorsed to verify the driving licence on DVLC.
- Appraise the overall put on and tear of the automobile in comparison with its age and mileage.
- Ensure the non-obligatory extras are appraised, as it is going to assist to make sure you have the right automobile, keep away from fraud and never over-pay.
Regardless of highlighting the continued want for a radical bodily inspection, Cap HPI mentioned that it’s presently growing a spread of instruments to assist sellers handle the part-exchange course of remotely.
A guided appraisal device is already obtainable to assist guarantee the method follows finest apply.
The corporate additionally has a ‘client’ model underneath improvement, which can allow the seller’s a buyer to supply a guided appraisal of their automobile.