The history of HPI (Hire Purchase Information) is a fascinating one, starting back in the early 1980s when it was first established. Today, HPI checks are a vital part of the used car buying process, providing crucial information to consumers before they make a purchase. Rapid Car Check offers its own version of the HPI check, providing customers with accurate and reliable data on the history of a vehicle. In this article, we will explore the history of HPI and its importance in the used car market.
What is HPI?
Before delving into the history of HPI, it is important to understand what HPI checks are and what they offer. HPI checks are used to provide information on the history of a vehicle, including any outstanding finance, previous accidents or damage, and whether the vehicle has been reported stolen. Essentially, it provides potential buyers with an insight into the vehicle’s past and allows them to make an informed decision when purchasing a used car.
History of HPI
HPI was founded in the UK in 1938 as the Hire Purchase Investigations company, providing information to businesses to help them make informed decisions about financing. It wasn’t until the 1980s that HPI began to offer consumer services, providing vehicle history checks to the public.
Over the years, HPI has become the market leader in vehicle history checks, offering a comprehensive range of services that help consumers make informed decisions when purchasing a used car. In 2015, HPI was acquired by Solera Holdings Inc, a global provider of risk and asset management software and services.
HPI checks are an essential part of the used car buying process, providing peace of mind to consumers when purchasing a used vehicle. The HPI check provides information on a range of areas, including:
- Outstanding finance – HPI checks provide information on any outstanding finance on the vehicle, allowing consumers to avoid purchasing a car that still has money owing on it.
- Previous accidents or damage – HPI checks will highlight any previous accidents or damage to the vehicle, allowing potential buyers to make an informed decision on whether to purchase the car or not.
- Stolen vehicles – HPI checks will alert consumers if the vehicle has been reported stolen, helping to prevent buyers from unwittingly purchasing a stolen car.
- Mileage discrepancies – HPI checks will identify any discrepancies in the vehicle’s recorded mileage, alerting buyers to the possibility of clocking.
Rapid Car Check’s Free Instant Vehicle Check
Rapid Car Check offers a free instant vehicle check, providing customers with a quick overview of a vehicle’s history. The free check includes information on the vehicle’s make and model, its MOT status and history, and its tax status. While the free check provides basic information, it does not include details on outstanding finance, previous accidents or damage, or whether the vehicle has been reported stolen. For a more comprehensive check, customers can upgrade to Rapid Car Check’s full HPI check.
The history of HPI is a fascinating one, starting back in the 1930s when it was first established as a company providing information on hire purchase financing. Over the years, HPI has become a market leader in vehicle history checks, offering a comprehensive range of services to help consumers make informed decisions when purchasing a used car. Rapid Car Check offers its own version of the HPI check, providing customers with accurate and reliable data on the history of a vehicle. Whether you are looking to buy a used car or simply want to know more about a vehicle’s history, a HPI check is an essential tool in the used car buying process.