Vehicle information organisation, HPI, is launching CrushWatch in support of the Finance & Leasing Association’s (FLA) new initiative designed to tackle illegal driving.
Following its partnership with the motor finance industry, the FLA and regional police authorities, HPI unveiled CrushWatch at the 2009 annual National Vehicle Crime conference. It’s meant as a solution to vehicle seizure in the clampdown on uninsured, and untaxed drivers, and persistent evaders.
The FLA scheme brings together motor lenders and police to reclaim illegal cars. The national initiative aims to help motor finance companies reclaim vehicles they own, which have been driven illegally by their customers and ultimately seized by the police. "Last year, police seized a record 170,000 uninsured vehicles, with the number of uninsured motorists actually still on the road estimated to be two million," says Alan Bishop, Industry Relations Director for HPI. "If a driver is uninsured, the car financing contract is rendered null and void, putting motor finance companies under pressure to raise their premiums to cover their risks.
"We have created CrushWatch in partnership with the Home Office and the Association of Police Officers (ACPO) as a direct response to the FLA led initiative. CrushWatch uses the power of the HPI Check to provide a framework for checking vehicle ownership, status and agreeing settlement terms before repatriation. We specifically designed the service to meet the needs of police and finance companies. CrushWatch offers an easy solution that is free at the point of delivery and meets FLA Protocol requirements. It is fully automated, via the HPI trade website, enabling checks to be carried out by garages and compounds. If a finance interest is registered it is notified on screen and an email is sent to a dedicated mailbox at the finance company. The finance company then makes contact.
"CrushWatch protects the interests of finance companies, which in turn helps reduce the cost of finance for consumers. Our new service ensures alerts go to the right person, reducing risk for finance companies, whilst allowing police to repatriate the vehicle back to the lender, rather than returning it to the persistent evader or disposing of it themselves. CrushWatch allows police to monitor HPI Checks activity without intervening and is available to all finance companies, not just HPI clients.
"The number of uninsured vehicles on UK roads continues to grow and HPI fully supports the FLA initiative to tackle this issue. In the current economic conditions, CrushWatch offers the motor finance industry a powerful weapon against persistent evaders, using the depth of data available through the HPI Check to reclaim illegal cars."
About HPI:
Originally established in 1938, HPI Limited is a source of vehicle information for the UK motor industry and motoring consumer, which since December 2008 has been owned by Solera Holdings, Inc. HPI encompasses both the HPI database of all UK road registered vehicle descriptions and histories, and the National Mileage Register which holds in excess of 125 million mileage readings. Registering with HPI can help companies to protect their financial interests in motor vehicles and other mobile assets. HPI Checks give purchasers instant confirmation of whether vehicles are correctly described, known to be subject to outstanding finance or serious accident damage, or recorded as stolen or "clocked".
