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HPI stands for "Hire Purchase Information" or "Historic to Present Information" and relates to a simple service provided many years ago for buyers of vehicles to check whether the car they wanted to buy had outstanding finance associated to it. In simple terms, if a car owner takes a loan out to buy a car, until that loan is paid in full, the car belongs to the company who lends the money. If that buyer then sells the vehicle without paying the loan off, under British Law, the vehicle still belongs to the loan company, not to the new owner, even though the vehicle would have been purchased in good faith. The loan company has the right to reposess the vehicle from the new owner and sell it to recover their loss. Todays comprehensive reports provide much more information than just outstanding finance. Data is researched and fed back instantly on whether the vehicle is recorded as stolen or has been classed as an insurance write off after being involved in an accident, confirms recorded mileage, colours, owners and much more. Although HPI is Trademark of HPI Limited, the term is widely known in the general public as a generic term for these vehicle data check services.
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