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Have you found any prestigious vehicles in your yard?

crashed carCap hpi, experts in providing data within the automotive industry officially launched a scheme called HPI CrushWatch in 2009 in response to the Finance & Leasing Association’s (FLA) Vehicle Recovery Scheme; an initiative to clamp down on uninsured drivers. Rather than vehicles being scrapped, the scheme brings together motor lenders and police to reclaim illegal cars.

According to the Institute of Automotive Engineer Assessors (IAEA), ‘more than half a billion pounds worth of uninsured UK vehicles have been saved from potentially being crushed in the last decade including Lamborghinis, Ferraris, Bentleys and Aston Martins.’

Vehicles including supercars and high-value cars to the tune of £543,712,611 that had been confiscated from uninsured drivers were among those saved from being scrapped, according to figures released from automotive experts HPI through its CrushWatch scheme.

In the past 10 years, the average value of each vehicle saved by CrushWatch has almost doubled from £5,589 in 2009 to £9,052 in 2018. The number of checks carried out has also increased nearly five-fold since the start of the scheme a decade ago.

For 2017 more than £94m of uninsured vehicles were saved from the possibility of being crushed. Of these vehicles, six Lamborghini Huracans (worth between £147k-£186k) and one Lamborghini Aventador worth £318,000, were recovered. A Ferrari 458, Bentley Continental GT and Aston Martin Vanquish worth £134,000, £111,000 and £104,000 respectively were also recovered.

Barry Shorto, head of industry relations at HPI, commented, “It’s staggering to think that in the ten years that CrushWatch has been operational over £500m worth of vehicles have been saved and secured. The success of the initiative illustrates the need to crack down on driving without insurance, drivers who are causing a risk to other road users and pedestrians. Sadly our data reveals that drivers of supercars and premium vehicles are not exempt from this practice. Preventing this from happening is not just a safety issue but also about enabling finance companies across the UK to reclaim their vehicles which otherwise may have ended up at auction or on the scrap heap.”

High-value vehicles are among hundreds of thousands of cars that were confiscated by police after their drivers were found not to have valid insurance, a large number of which belong to finance and leasing companies. Historically in such situations, the cars would either be sold on, often via auction or scrapped, without the finance company ever being aware.

Mainstream models including, Vauxhall Astra and Corsa, Volkswagen Golf, Ford Focus and Ford Fiesta all featuring along with BMWs, Mercedes and Audis make up the bulk of the most commonly recovered vehicles.

Barry Shorto added, “In the ten years since CrushWatch started, the total value of the cars recovered highlights the important role that it plays in the process of clamping down on drivers who think they are above the law. As the past ten years clearly demonstrates, this is a problem that isn’t going away but, through an ongoing collaborative approach with police forces throughout the UK, we can help the leasing and finance companies to minimise losses and increasingly get to grips with the problem.”

Source: www.iaea-online.org

www.extras.cap-hpi.com

www.dailymail.co.uk

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