In 2018, nearly 110,000 vehicles were confiscated by police as a result of drivers failing to have valid insurance.
While the seizure of cars without insurance is common, the growth in those leased or bought on finance results in bigger problems. Without the assistance of HPI CrushWatch, finance firms might see millions of pounds worth of assets changed into metal cubes.
The CrushWatch scheme helps to return seized vehicles to their legal owners. In 2018, vehicles totalling nearly £122 million were returned whole to their owners.
CrushWatch launched in 2009. It lets UK police forces check vehicles before disposing of them, allowing finance companies to be reunited with what are often valuable assets. The number of checks conducted has grown nearly five-fold after the beginning of the scheme ten years ago.
For motor trade insurance, look up firms such as Quotemetoday.
There is more about the CrushWatch scheme and how it helps to reunite drivers with their cars here: http://www.bodyshopmag.com/2018/news/crushwatch-reunites-cars-with-owners/.
Among the 13,000 confiscated vehicles belonging to finance firms in 2018, a large number of super and luxury cars were found. For example, a Lamborghini Aventador worth £306,200 was the most valuable car saved from scrapping or sale.
Sant’Agata products were popular among drivers with no insurance, consisting of 50 per cent of the top ten most expensive vehicles found by CrushWatch. Meanwhile, a Rolls-Royce Dawn worth £212,300 and a Lamborghini Huracan costing £173,400 made the top ten.
Growth in Seizure of Leased Cars
The biggest concern is that the value of financed or leased cars being seized has grown by £28 million when compared to 2017. A total cost of £122 million is the highest amount ever recovered in CrushWatch’s ten years of existence, highlighting a worrying trend.
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