HPI research shows car buyers want documentation
HPI, part of Solera Holdings, a company in vehicle history checks and valuation, announced findings from a recent independent research study conducted with 2,000 motorists.
In addition to findings that 90% of motorists would be more likely to buy a vehicle if they could see its past history, the research also shows:
- 75% of motorists would be completely put off buying a car without a full-service history.
- Over a quarter, 27%, would expect to receive a discount off the asking price for incomplete vehicle history.
- Nearly half, 48%, feel that knowing a car has its full-service history stamps and has never previously been written off or scrapped are jointly the most important pieces of information to know before making a purchase.
"HPI research shows that a comprehensive profile will give a buyer more confidence that the car has been looked after and that the asking price is fair," said Fernando Garcia, consumer director, HPI. "79% of respondents said they'd view a vehicle with a full digital history as more valuable and 26% felt that full documentation and receipts for repair work could add more than 10%."
HPI has developed a new virtual garage app to make the process of selling, buying and owning cars simple and secure. The free app, myHPI, uses real-time data to generate live vehicle history records. It is an advanced virtual garage tool available to motorists with comprehensive data available on each vehicle.
Features of the myHPI app which can benefit motorists include access to any past HPI Check reports and valuations, safe digital storage for all car-related documents and service, maintenance or repairs receipts, automatic alerts for MOT and tax due dates, customisable notifications for other important events such as insurance renewal, a calendar showing key events in the car's lifecycle and free manufacturer recall updates.