HPI supports the launch of the Vehicle Recovery Scheme

HPI welcomes the new Vehicle Recovery Scheme being launched by the Finance & Leasing Association (FLA) and the Association of Chief Police Officers Scotland (ACPOS). Under the new initiative it is estimated that 1,000 uninsured and illegally driven vehicles will be removed from the road every year, improving safety for other motorists.

Launched today, the Vehicle Recovery Scheme is a partnership between the FLA and ACPOS, created in an effort to clamp down on vehicles being illegally driven without insurance. Through this partnership, any vehicle seized by police will have a background check to see whether there is outstanding finance. The finance company will then be contacted, allowing them to recover the vehicle.

“We welcome the launch of the Vehicle Recovery Scheme in Scotland, which is another step towards closing the net on uninsured vehicles,” says Alan Bishop, Industry Relations Director at HPI. “The scheme utilises our own HPI CrushWatch service, developed in partnership with the FLA to tackle illegal driving and which is free of charge to police forces across the UK. £6.8million worth of cars recorded on finance were checked and at risk of being crushed last year, but using HPI data, HPI CrushWatch can help the motor finance industry reclaim illegal cars and reduce the financial impact of this issue.”

The number of uninsured motorists on the road today poses a threat to the safety of other motorists, as well putting pressure on finance companies to raise their premiums to cover the risks. Finance companies signing up to HPI CrushWatch will be warned when any vehicle they have an interest in is seized and destined to be sole or crushed.

Bishop concludes, “Through strong partnerships such as the Vehicle Recovery Scheme and HPI CrushWatch, the industry continues to pull together to tackle the growing problem of uninsured vehicles. We need to be tough on illegal drivers to improve road safety and help the motor finance industry reduce their risks.”