As the price of new vehicles is climbing through the roof, increasing numbers of drivers throughout Britain are flocking to the second-hand car market in the hope of avoiding financial pain. But the era of bargain and cheap used cars is long since passed.
Used vehicle prices skyrocketed in the past two years. Not as many new cars are being produced, more people are holding on to their cars longer, and the high inflation has made operating expenses an utmost concern. As a result, used cars are scarce and sought after — and customers are paying dearly.
If you are purchasing second-hand, more than ever before it is vital to get your act together. An expedient computer search and a courteous dealer are no longer enough to guarantee a bargain. It is worth investigating the history of a car, ownership, running costs, and likely depreciation in order to avoid financial miseries further down the line.
We found a helpful service, the Car Owl Car History Check, which uses official resources like the DVLA and the police databases to uncover issues like outstanding finance, insurance write-offs, mileage rollbacks (clocking) and so on. It is one of a new generation of consumer-focused tools bringing transparency to an otherwise transparent-free market.
Used Car Prices: What’s Driving the Boom?
Several key factors are pushing prices up:
• A worldwide shortage of new vehicles as supply chain hold-ups
• Fewer part-exchanges and trade-ins entering the used market
• Greater demand from cash buyers avoiding long-term finance agreements
• The wider cost of living crisis affecting consumer behaviour
Simply put, more people are after fewer vehicles. That makes consumers be vigilant, particularly when a deal is too good to be true.
Why Getting a Vehicle’s Past Is Important?
Purchasing used has always been a risk. But in the current market, with high prices and high competition, the risk is higher.
Without a thorough background check, you could unknowingly buy a car that is:
• Still financed and at risk of being repossessed
• A clear write-off by insurance companies
• Stolen and on the police’s books
• Sneakily clocked to hide the true mileage
These are not uncommon problems. Industry studies report that hundreds of used cars sold each year in the UK have hidden defects which cost new owners money or put them in trouble with the law. One of the easiest ways to slice that risk is a full history check, from a reliable source.
Methods like the Car Owl Vehicle History Check are designed to bring these problems out into the light using proven facts. These reports will usually include data such as insurance write-off status, police stolen status, outstanding finance transactions, previous owners, MOT history and more.
Free Checks Are a Good Starting Point
If you are not prepared to buy but would like to see a few cars, then Car Owl offer a free reg check. This free car check shows MOT history, road tax status, exported checks, mileage history, and a free depreciation forecast.
At the early stage of research, this kind of information is most helpful when browsing listings or shortlisting vehicles. It is helpful in uncovering red flags prior to you investing more time or money.
When You Only Have the VIN
There are times when you do not have access to a car’s registration number. This is common with older vehicles, classic restorations, barn finds, or imported cars that have not yet been registered in the UK. In these cases, the only way to identify the car is by using its VIN (Vehicle Identification Number).
The VIN is a 17-character code found on the chassis or stamped onto a metal plate, often under the bonnet or near the windscreen. It acts like a fingerprint for the car, and with the right tools, you can use it to check the vehicle’s full background.
Car Owl offers a Vehicle VIN Check that allows you to search using just the VIN. This makes it easier to verify the history and identity of vehicles where no number plate is available. It is especially helpful for rare cars, private imports, or anything that has been sitting off the road for years.
You can access many of the same records found in standard registration checks, giving you the confidence to move forward with the purchase or ask better questions before buying.
Five Signs You Should be Cautious About
• The seller is unwilling to provide any service history
• Mileage seems unusually low for the vehicle’s age
• The car is priced far below similar models
• There is a pressure to “act fast” or pay a deposit in advance
• The seller does not question you or turns you down to perform checks
If anything is making you feel rushed or vague, then it is always best to walk away. The finest deals are the ones which can be tested.
A Final Word for Buyers
Buying a used car can still be a smart financial move. But in today’s overheated market, hope resides in preparation. Don’t rely on first impressions or friendly sellers. Use the tools at your disposal and trust the facts.
In an industry where dividends are paid on caution and penalties are inflicted for missing corners, knowledge applied to the situation is worth more than its weight in gold.