Many buyers find the faults within weeks of purchasing car
Adds up to £500m a year in putting them right, study by vehicle database HPI found
2.7m second-hand vehicles sold in a typical year; annual repair bill for faults unknown when a car was bought comes to £486m
Published: 20:05 EDT, 3 January 2014 | Updated: 09:04 EDT, 4 January 2014>
Second-hand car buyers spend an average £200 on fixing hidden faults within weeks of owning their motor, new figures reveal.
And across the UK, it adds up to £500million a year in putting them right, the study by vehicle database HPI found.
Four in five used cars are bought with at least one hidden defect, and each fault costs an average of £225 to fix.
Second-hand car buyers spend an average £200 on fixing hidden faults within weeks of owning their motor, new figures reveal. (Above, George Cole as dodgy car salesman Arthur Daley in TV's minder)
With 2.7million second-hand vehicles sold in a typical year, it means the annual repair bill for faults unknown when a car was bought comes to £486million.
The research found one in nine cars with faults costing more than £1,000 to repair.
And buyers are invariably bearing the burden when it comes to repairing faults on used cars.
Shane Teskey, head of consumer services at HPI, said: 'Last year, 2.7million used cars were sold privately in the UK and Northern Ireland, which could equate to more than £480million spent on faulty cars being repaired.
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'Too many used-car buyers are falling foul of dodgy cars from shifty sellers and losing cash on a clunker.
'They should beware of being hoodwinked into parting with their cash without conducting rigorous checks.
'People rarely buy a house without having a survey, so why would they happily buy a car without having it inspected?'
The study by vehicle database HPI said: 'Straightforward jobs such as replacing worn tyres could cost £320 on a Ford Focus or similar car and up to £1,800 for a 4X4 BMW X5 or similar'
HPI’s research reveals that one in five cars need a repair costing £550 to keep them on the road, leaving buyers significantly out of pocket.
The report said: 'Straightforward jobs such as replacing worn tyres could cost £320 on a Ford Focus or similar car and up to £1,800 for a 4X4 BMW X5 or similar.
'All of which goes to show the value of having an independent vehicle inspection conducted before purchase.
Mr Teskey said: 'Most people think it’s the older cars that are more prone to having faults, but one in five cars fail their first MOT test at three years old.'
Used-cars buyers are advised to avoid viewing a vehicle in the dark and beware cars that look too clean or whose warm engine may be disguising a starting problem.
They should also look out for replacement tyres which may be hiding steering or suspension problems and to check the registration and MOT documents for discrepancies.
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