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More expensive used cars increase chance of fraud

New research has found that the more you pay for a used car, the greater the risk of being ripped off by fraudsters.

Experian has found paying more than £10,000 for a used car puts you at a one in three chance of buying a motor with a hidden history.

Despite this only 17 per cent of car checks are carried out by people buying a car over £10,000, even though they account for a third of sales.

Rob Whalley, Experian's automotive division managing director, said: "Buying a used car is risky and not enough people are aware of the issues or take the necessary precautions.

"The safest way to ensure that your dream car doesn't turn out to be a financial nightmare, because you've lost money on it, is by checking out its history. The more money you spend on a car, the more important it becomes."

One of the biggest dangers is that there is outstanding finance owed on the car, as nearly four million finance agreements were taken out last year, often on higher value vehicles.

A car could also be stolen and sold on fraudulently or be a write-off that has been repaired.