News Release
Contact:
Serj Heera
PR Manager, Business Information and Automotive
+44 (0) 115 992 2773 Tel
serjeet.heera@uk.experian.com Email
Experian launches Automated Vehicle Mileage Check
Nottingham, UK, 1 June 2009 - Experian®, the global information services company, has launched Automated Vehicle Mileage Check, the first service of its kind for the UK’s automotive market.
The industry’s first automated compliance service ensures dealers’ group or manufacturer due diligence policies are fulfilled easily, efficiently and accurately.
Inadvertently selling a vehicle with inaccurate mileage information could lead to prosecution, serious damage to a dealer’s reputation and possible loss of their Consumer Credit Licence. With increased focus from the Office of Fair Trading, the ability to automate this process will ensure compliance, whilst also protecting the dealer’s brand and reputation.
Dealers simply provide their current retail vehicle stock file and Experian does the rest, drawing on its extensive data and analytics capabilities.
Experian’s Automated VMC service checks all the vehicles against the dealer group or manufacturer’s own specific policy and identifies for the user which vehicles require an investigation into their mileage. The service can also process any checks that have not been carried out, either immediately or after a client specified timeframe.
The key benefits of Automated VMC from Experian, include:
Automated VMC is currently being trialled by John Grose Ltd, a dealer group based across Suffolk and Norfolk. Richard Howard, Director of Used Car Operations at John Grose, has been impressed with the service: “The current process is manual with administrators based at our various dealer sites. The task of finding out whether we are as robust as we think we are when it comes to due diligence is an extremely difficult and time consuming one. It requires an in-depth audit of all the individual sites.
“The beauty of Automated VMC is that it will give us peace of mind in a snapshot and we can be assured that the job is being carried out in a robust fashion. Details are emailed to us directly in a report that enables us to quickly identify any process failings and ensure that all our vehicles are perfect.”
Kirk Fletcher, Managing Director of Experian’s Business Information and Automotive businesses, said: “The recent spotlight on the sale of used cars after the Office of Fair Trading highlighted the high number of complaints related to the sector, has increased the pressure on dealers to take all the necessary steps needed to ensure their vehicles are legitimate.
“Automated Vehicle Mileage Check will enable dealers to avoid the risk of heavy fines, protect their reputation, reduce administration and make the most of the resources available. All of this means that they can instead focus their attentions on securing and retaining profitable customers.”
ENDS