Figures from HPI have revealed that its CrushWatch scheme has helped finance and leasing companies recover over £9m of uninsured vehicles in May 2016.
The HPI CrushWatch initiative helps lenders both reduce their losses and contribute to road safety by reclaiming their assets from the police. Uninsured vehicles which would have been sold at auction or worse still, scrapped, are reunited with their legitimate owners under the innovative scheme.
A total of £65 million of vehicles which had been seized for being driven without valid insurance were flagged up to the finance and leasing companies who legally owned them during 2015. Prior to the introduction of the HPI CrushWatch scheme, these vehicles may have been disposed of without their knowledge.
The latest figures reveal that the top five manufacturer makes most commonly avoiding the possibility of auction or the scrap yard following reclamation from the Police consisted of Vauxhall, Ford, BMW, Volkswagen and Audi models to the tune of nearly £4.7m.
Working under the umbrella of the Finance & Leasing Association’s (FLA) Vehicle Recovery Scheme, HPI CrushWatch from vehicle history check expert, HPI, assists law enforcement agencies with identifying if vehicles confiscated from uninsured drivers, rightfully belong to a finance house.
Top 5 Total Value of CrushWatch Finance Hits by Police Force May 2016
Police Force Value
Metropolitan Police £2,326,535
Police Scotland £646,170
Police Scotland £600,455
West Yorkshire Police £539,235
Northumbria Police £461,025The figures also highlight that owners of high value cars are not immune from driving without valid insurance. Thanks to HPI Crushwatch finance and leasing companies were able to identify and reclaim over £805k worth of high value cars from police forces around the UK.
Vehicle MakeModel Police Force Value
Ferrari458 Spider Dct S-AMetropolitan£118,700
Bentley ContinentalGt S V8 AutoThames£101,600
Mercedes-BenzActrosHumberside£89,600
Mercedes-BenzG63 AMG AutoMetropolitan£87,200
Mercedes-BenzG63 AMG AutoSouth Yorks£84,900
AudiR8 Spyder Quattro V10 S-AGt Manchester£73,000
AudiR8 Quattro V10 S-AWiltshire£68,100
LamborghiniGallardoHampshire£67,900
VolvoFHCheshire£58,750
Land roverR Rover Sport HSE Dynam SGT Manchester£56,000
The HPI CrushWatch initiative helps lenders both reduce their losses and contribute to road safety by reclaiming their assets from the police. Uninsured vehicles which would have been sold at auction or worse still, scrapped, are reunited with their legitimate owners under the innovative scheme.
A total of £65 million of vehicles which had been seized for being driven without valid insurance were flagged up to the finance and leasing companies who legally owned them during 2015. Prior to the introduction of the HPI CrushWatch scheme, these vehicles may have been disposed of without their knowledge.
The latest figures reveal that the top five manufacturer makes most commonly avoiding the possibility of auction or the scrap yard following reclamation from the Police consisted of Vauxhall, Ford, BMW, Volkswagen and Audi models to the tune of nearly £4.7m.
Working under the umbrella of the Finance & Leasing Association’s (FLA) Vehicle Recovery Scheme, HPI CrushWatch from vehicle history check expert, HPI, assists law enforcement agencies with identifying if vehicles confiscated from uninsured drivers, rightfully belong to a finance house.
Top 5 Total Value of CrushWatch Finance Hits by Police Force May 2016
Police Force Value
Metropolitan Police £2,326,535
Police Scotland £646,170
Police Scotland £600,455
West Yorkshire Police £539,235
Northumbria Police £461,025The figures also highlight that owners of high value cars are not immune from driving without valid insurance. Thanks to HPI Crushwatch finance and leasing companies were able to identify and reclaim over £805k worth of high value cars from police forces around the UK.
Vehicle MakeModel Police Force Value
Ferrari458 Spider Dct S-AMetropolitan£118,700
Bentley ContinentalGt S V8 AutoThames£101,600
Mercedes-BenzActrosHumberside£89,600
Mercedes-BenzG63 AMG AutoMetropolitan£87,200
Mercedes-BenzG63 AMG AutoSouth Yorks£84,900
AudiR8 Spyder Quattro V10 S-AGt Manchester£73,000
AudiR8 Quattro V10 S-AWiltshire£68,100
LamborghiniGallardoHampshire£67,900
VolvoFHCheshire£58,750
Land roverR Rover Sport HSE Dynam SGT Manchester£56,000
