Car insurance agreements may be axed by insurers if vehicles have mileage discrepancies when reporting a collision. However, new data has shown the illegal action is on the rise with perhaps as many as one in 11 vehicles showing incorrect mileage information.
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Avoid buying a vehicle with a clocked mileage today
Automotive experts HPI have revealed mileage discrepancies may have increased by 45 percent over the past five years and 22.2 percent in one year.
A total of 836,214 vehicles had a confirmed mileage discrepancy rate in 2019 in data experts say is the highest the industry has ever seen.
The ratio of clocked cars has grown steadily over the last half a decade with just one in 20 vehicles thought to be affected in 2014.
Motorists can check whether their car has been clocked by cross-referencing National Mileage Register information with MOT records.
However, many motorists are not aware of the issue and many not even consider checking mileage when making a purchase.
Discrepancies can have major consequences for motorists who may have purchased a clocked car.
A vehicle’s mileage is a reference to how old the vehicle is and therefore how likely it is to break down or be involved in an accident.
Car insurance firms use all the information you give them to provide you with a premium price which they believe matches your circumstances.
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However, many motorists are not aware of the issue and many not even consider checking mileage when making a purchase.
Discrepancies can have major consequences for motorists who may have purchased a clocked car.
A vehicle’s mileage is a reference to how old the vehicle is and therefore how likely it is to break down or be involved in an accident.
Car insurance firms use all the information you give them to provide you with a premium price which they believe matches your circumstances.
READ MORE
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However, many motorists are not aware of the issue and many not even consider checking mileage when making a purchase.
Discrepancies can have major consequences for motorists who may have purchased a clocked car.
A vehicle’s mileage is a reference to how old the vehicle is and therefore how likely it is to break down or be involved in an accident.
Car insurance firms use all the information you give them to provide you with a premium price which they believe matches your circumstances.
Mr Garcia added: “This will lead to issues with safety warnings – making it potentially very dangerous for the driver, passenger and other road users.”
Experts believe cars are clocked so motorists can avoid paying financial penalties for breaking mileage terms on car contracts.
Criminals may also clock mileage to sell older cars for a much higher price by conning sellers into believing the car is in better condition than it is.
Simple mileage tweaks could dramatically increase the perceived value of a family car and increase its price by up to £4,000.
HPI analysis has shown mileage clocking costs motorists across the country more than £800million every year.
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