HPI is extending HPI CrushWatch to alert motor finance lenders to vehicles impounded by the Driver and Vehicle Licensing Agency (DVLA) because the vehicle has no road tax.  A car that is subject to a finance agreement which is driven without Vehicle Excise Duty (VED) is breaching the terms of the finance contract. Until now, confiscated cars would have been auctioned or sent to the scrap heap if they weren’t claimed by the registered keeper.
HPI CrushWatch was launched in 2009 in direct response to the Finance & Leasing Association’s (FLA) initiative to clamp down on uninsured drivers, by bringing together motor lenders and the police to reclaim illegal cars.  Over the last 3 years the scheme has brought significant road safety benefits, as well as helping to keep the cost of finance affordable for law-abiding motorists.
The latest enhancement to HPI CrushWatch supports a formal agreement between the FLA and the DVLA that is set to build on the success of the uninsured driver scheme.

Daniel Burgess, Managing Director for HPI explains:  “As part of the HPI CrushWatch service, every uninsured vehicle seized by the police in England, Scotland and Wales is checked by HPI. Where it is found to be on finance the lender is alerted and given the opportunity to reclaim their vehicle.
“Up until now, it has only been uninsured cars seized by the police that were checked with HPI CrushWatch and nearly 1 in 10 of the 60,000 uninsured cars checked by the police in 2011 had outstanding finance against them.   As of today, through HPI CrushWatch, finance companies will also now be alerted to untaxed vehicles impounded by the DVLA.”

The FLA predicts that approximately 1,000 illegal cars worth approximately £5.5 million will be identified every year because of this new scheme.  Paul Harrison, Head of Motor Finance at the FLA adds:  “The FLA’s agreement with the DVLA will help make our roads safer for law-abiding motorists.  It will also mean that finance companies will be able to collect their cars which have been impounded for having no tax, before they go to the crusher or are sold at auction.”
Concludes Daniel Burgess:  “Available to all finance companies, not just HPI clients, HPI CrushWatch uses HPI Check data to help the motor finance industry reclaim their assets. With no annual fees, subscribers only pay for the alerts they receive, offering finance companies a powerful weapon to protect their property, whilst helping the police and the DVLA to safeguard innocent motorists from becoming victims of illegal drivers.”