The Vehicle Recovery Scheme run by the Finance
& Leasing Association (FLA) and Association of Chief Police
Officers recorded its lowest ever percentage of hits to enquiries
in February.
Of the total of 5,078 enquiries made during
the months, 8.17%, or 415 enquires, found a car with outstanding
finance. The lowest percentage since vehicle checker HPI, which
helps run the recovery scheme, began publishing monthly results in
summer 2010.
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The total value of recovered vehicles in
February was £2.33m, slightly down on the average of £2.61m, 20.27%
down on
the January figure but 5.34% above
December 2011. The average value of outstanding finance on a
recovered vehicle was a respectable £5,610, 2.73% above the average
value of a vehicle recovered through the scheme since summer
2010.
For the ninth time in the last 12 months,
Vauxhall was the marque with the highest number of recovered
vehicles, 95, with Ford second. However, it was Vauxhall’s Corsa
which was the most-recovered model for the first time on record,
accounting for 34 of those 95 recoveries, not the Astra or the
Focus which normally dominate.
Strathclyde was the police force with the
highest total value of recoveries for the fourth month in a row,
and the fifth time in the last six months, recovering vehicles with
a total outstanding finance value of £335,050, just over £100,000
more than West Yorkshire, the second-placed force this month.
High-end quirks
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By GlobalDataThe month was notable for several quirks at
the high-end of recovered vehicles including the single recovered
vehicle with the highest value of outstanding finance being a Land
Rover Range Rover Vogue, only the second time on record. The value
of the Vogue, £49,500, was the lowest to top the monthly Crushwatch
charts since March 2011.
February was the first month since January
2011 that no BMW has been in the top 10 most-valuable vehicles
recovered, which also featured two Mercedes-Benzes. The brand has
now appeared in the top 10 four times in the last three months,
having not appeared since April 2011. The top 10 also saw the rare
appearances of a Renault and a Mitsubishi.
For the second month running no Lamborghini or
Ferrari made the top 10 although
the two brands have dominated Crushwatch most-valuable recovery
statistics since summer 2010.
Further data for the FLA Vehicle Recovery Scheme will be
published in
March’s issue of
Motor Finance
magazine.
richard.brown@vrlfinancialnews.com
