Help Needed To Interpret HPI Report
Discussion
Hi everyone
First off, what an excellent forum full of knowledgeable posters. Would appreciate some assistance to help me interpret an HPI report done today on a Mini Cooper I intend to buy.
Long story short, went around to a non-franchise dealer this morning to see the Mini, test drove and liked it, he printed out an HPI check from the computer in his office. Based on the "Clear" status, I paid a £200 deposit. Now that I'm home, I have scanned the report and uploaded it:
Probably a bit too late now, but should I be worried about the unusually high number of previous searches by insurers, auction and finance companies? The dealer said that the vehicle was bought from auction, previously had only one lady owner, and had no outstanding finance; and the searches could be done when people are applying for insurance and finance.
Any advice will be much appreciated. Many thanks in advance.
Warmest regards
Andy
First off, what an excellent forum full of knowledgeable posters. Would appreciate some assistance to help me interpret an HPI report done today on a Mini Cooper I intend to buy.
Long story short, went around to a non-franchise dealer this morning to see the Mini, test drove and liked it, he printed out an HPI check from the computer in his office. Based on the "Clear" status, I paid a £200 deposit. Now that I'm home, I have scanned the report and uploaded it:
Probably a bit too late now, but should I be worried about the unusually high number of previous searches by insurers, auction and finance companies? The dealer said that the vehicle was bought from auction, previously had only one lady owner, and had no outstanding finance; and the searches could be done when people are applying for insurance and finance.
Any advice will be much appreciated. Many thanks in advance.
Warmest regards
Andy
Wouldn't worry about the number of searches to be honest, it could be people phoning up to do insurance quotes to see how much it would be.
I would be a little worried that it says it's had 0 former owners! Best bet would be to do one yourself if you can. Costs about £20 but it's better to lose £220 after your deposits paid than it is to end up with what turns out to be a dog because the dealer's written a fake HPI report (not saying it is fake!!)
I would be a little worried that it says it's had 0 former owners! Best bet would be to do one yourself if you can. Costs about £20 but it's better to lose £220 after your deposits paid than it is to end up with what turns out to be a dog because the dealer's written a fake HPI report (not saying it is fake!!)
These searches come up all the time. It is often just someone entering an advert using the regsitration number. They're not "checks" as such but a system using the DVLA lookup to enter the car details quickly using the reg number.
That car actually has a relatively low number for a car which as been from a finance company, auction and then dealer.
That car actually has a relatively low number for a car which as been from a finance company, auction and then dealer.
hornetrider said:
Kinky said:
andygray85 said:
I fully intend to pay for my own check anyway for the guarantee
Should you have done that before you paid the deposit 
But in all seriousness, if you are going to be reliant on that HPI guarantee - then as Mr. Rider says above - do it asap.
Kinky said:
hornetrider said:
Kinky said:
andygray85 said:
I fully intend to pay for my own check anyway for the guarantee
Should you have done that before you paid the deposit But in all seriousness, if you are going to be reliant on that HPI guarantee - then as Mr. Rider says above - do it asap.
Though I agree, he should get one done asap and for extra assurance.
OP, I've not heard of new cars going through auction, especially not ones which are in high demand when new, which Coopers in 2005 were. So who owned the car prior to the latest owner buying it at auction?
Also, dealer has not requested mileage info, so given you'll only have a couple of MOT's to look at, scrutinise mileage shown on the service history and ring the people who carried the services out to confirm.
@C8PPO: Haha I wish I could afford an Aston. Not me.
@Kinky & hornetrider: my typical noob mistake. I thought the deal was too good to pass up, and so placed a deposit there and then. I will try to press for a purchase receipt dated the day I pay the remaining balance.
@H_Kan: The story I was given was that the Mini was a company car which was recently sold at auction and snapped up by this dealer (from whom I'm buying the car).
But now that you mention it, the V5C registration certificate had no previous owner, the current registered owner is another lady (who presumably ran the Mini as a company car as a sole trader?). I take it that dealers do not need to put themselves as registered owners on the certificate?
The dealer has a forecourt, so hopefully that's some reassurance that if anything goes wrong I get a bit more protection compared to buying from a private seller.
Warmest regards
Andy
@Kinky & hornetrider: my typical noob mistake. I thought the deal was too good to pass up, and so placed a deposit there and then. I will try to press for a purchase receipt dated the day I pay the remaining balance.
@H_Kan: The story I was given was that the Mini was a company car which was recently sold at auction and snapped up by this dealer (from whom I'm buying the car).
But now that you mention it, the V5C registration certificate had no previous owner, the current registered owner is another lady (who presumably ran the Mini as a company car as a sole trader?). I take it that dealers do not need to put themselves as registered owners on the certificate?
The dealer has a forecourt, so hopefully that's some reassurance that if anything goes wrong I get a bit more protection compared to buying from a private seller.
Warmest regards
Andy
The 'Company Director owner' story is often used by salespeople to try and add some gravitas and reassurance to the deal, I would always take that one with a pinch of salt really. I personally couldn't care less who owned the car prior to me as long as they kept all the invoices for work done to the vehicle.
Just do your due diligence with regards to the history and if something doesn't seem quite right then walk - its not as if Minis are thin on the ground
Just do your due diligence with regards to the history and if something doesn't seem quite right then walk - its not as if Minis are thin on the ground
H_Kan said:
OP, I've not heard of new cars going through auction, especially not ones which are in high demand when new, which Coopers in 2005 were. So who owned the car prior to the latest owner buying it at auction?
Whoever's name is in the logbook. The current "owner" who is a dealer will not have their name in the logbook.It has obviously been a lease, PCP or privately owned car which they have either handed back at the end of a contract or part exchanged and the finance house / dealer has sent it to auction where the dealer currently owning it has bought it from. A typical pattern of about 90% of cars on the road.
It's possible they bought it from a BMW auction where nearly all of BMW's end of lease and private finance cars end up and BMW dealers compete with independents to buy them.
Edited by confused_buyer on Sunday 12th December 10:17
confused_buyer said:
H_Kan said:
OP, I've not heard of new cars going through auction, especially not ones which are in high demand when new, which Coopers in 2005 were. So who owned the car prior to the latest owner buying it at auction?
Whoever's name is in the logbook. The current "owner" who is a dealer will not have their name in the logbook.It has obviously been a lease, PCP or privately owned car which they have either handed back at the end of a contract or part exchanged and the finance house / dealer has sent it to auction where the dealer currently owning it has bought it from. A typical pattern of about 90% of cars on the road.
It's possible they bought it from a BMW auction where nearly all of BMW's end of lease and private finance cars end up and BMW dealers compete with independents to buy them.
Edited by confused_buyer on Sunday 12th December 10:17
The only 2 things I would check at this point is if the car was originally sold with TLC. I know it sounds insane but there where some customers who wanted to 'save' £150 off the purchase price, rather than have 5 years free servicing! Secondly and assuming the original TLC is in place, has the previous owner taken out the 3 years extension? If he hasn't, as long as the car has been serviced by a BMW/Mini dealer you can still do it. Not a huge number of people know about the availability of the extension. It was a very clever solution by BMW, to make sure further residuals for second and 3rd owners where kept high. It also guaranteed to keep cars in the dealer network.
Pop into your local BMW/Mini dealer and ask one of the sales people if they would mind running you an IVS check and that will tell you all you need to know.
HTH
confused_buyer said:
H_Kan said:
OP, I've not heard of new cars going through auction, especially not ones which are in high demand when new, which Coopers in 2005 were. So who owned the car prior to the latest owner buying it at auction?
Whoever's name is in the logbook. The current "owner" who is a dealer will not have their name in the logbook.It has obviously been a lease, PCP or privately owned car which they have either handed back at the end of a contract or part exchanged and the finance house / dealer has sent it to auction where the dealer currently owning it has bought it from. A typical pattern of about 90% of cars on the road.
It's possible they bought it from a BMW auction where nearly all of BMW's end of lease and private finance cars end up and BMW dealers compete with independents to buy them.
Edited by confused_buyer on Sunday 12th December 10:17
OP, no the dealers name wouldn't appear on the certificate, bit odd an auction place did a search in 09 though.
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