Vehicle information provider HPI has announced its support for the automobile recovery scheme announced earlier this week between the Finance & Leasing Association (FLA) and the Driver and Vehicle Licensing Agency (DVLA).
Under the scheme vehicles impounded by the DVLA for having no road tax and found to have outstanding finance will be returned to the finance companies.
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The scheme is similar to that already run between the FLA and AVCIS (ACPO Vehicle Crime Intelligence Service) to return vehicles impounded having no insurance, and reported by HPIs Crushwatch service.
Crushwatch has run for three years in conjunction with the FLA to bring together motor lenders and the police to reclaim cars driven by uninsured drivers.
In that time, the scheme has found roughly a tenth of 60,000 uninsured cars checked by police had overdue finance and helped return those vehicles to the relevant finance company.
The FLA predicts 1,000 untaxed cars worth £5.5m will be identified and returned every year under the scheme, and reported by Crushwatch.
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By GlobalDatarichard.brown@vrlfinancialnews.com
