Understanding a Vehicle History Report

When purchasing a used car, one of the most important steps is obtaining and reviewing a vehicle history report. Here at Octane Finance, we want to ensure our customers make informed decisions before they buy. 

This guide to understanding a vehicle history report will detail what a vehicle history report is, why it's crucial, and how to interpret the information it provides. Read on to find out more… 

Key Takeaways: 

• A vehicle history report provides crucial information about a car's past, including ownership, accidents, and service history.
• Key elements of a vehicle history report include a vehicle identity check, outstanding finance, stolen vehicle check, write-off status, mileage history, ownership history, MOT history, and any number plate changes. 
• Obtaining a vehicle history report is essential when purchasing a used car to avoid hidden problems and make an informed decision.
• Service history significantly affects a car's value; evidence of a full-service history can potentially increase the vehicle’s value by 20-30%.
• When interpreting a vehicle history report, look for consistency with the seller's information, check for red flags like multiple owners or frequent repairs and consider how past issues might affect the car's current condition and future reliability. 
• Free resources are available for basic vehicle history checks, but comprehensive reports usually come at a cost.
• Regular checks of your own vehicle's history can help maintain accurate records and spot potential issues - particularly helpful if you’re planning to sell the car. 
• While valuable, a vehicle history report should be used in conjunction with a physical inspection and test drive for a comprehensive assessment when buying a used car.
• Octane Finance offers expert guidance and a range of flexible financing solutions to help you navigate the car-buying process with confidence.

What is a Vehicle History Report?

A vehicle history report is a detailed document that provides information about a car's past, including its ownership history, accident records, service history, and more. This type of report is sometimes referred to as a "car check" or "vehicle check."

Why is a Vehicle History Report Important?

A vehicle history report can reveal crucial information about a car that might not be apparent from a visual inspection or test drive. It can prove helpful for potential buyers in a number of ways:

1. Avoid buying a car with hidden problems
2. Verify the car's true mileage
3. Ensure the car hasn't been stolen or written off
4. Confirm the number of previous owners
5. Check for outstanding finance

Key Elements of a Vehicle History Report

Vehicle Identity Check: 

This confirms the car's basic details, including registration number, make and model, year of manufacture, engine size, and colour. 

Outstanding Finance: 

This section reveals if there's any outstanding finance on the vehicle. Buying a car with outstanding finance can lead to legal complications, so it's crucial to check this.

Stolen Vehicle Check: 

This check ensures the car hasn't been previously reported as stolen.

Write-Off Status: 

If a car has been declared a write-off by an insurance company, it will be issued a designated category. These are - 

• Category A: Scrap only
• Category B: Break for parts
• Category S (previously C): Structurally damaged but repairable
• Category N (previously D): Non-structurally damaged but repairable

Mileage History:

This section shows recorded mileages over time, helping you to spot any discrepancies that might indicate mileage tampering.

Ownership History: 

This reveals the number of previous owners and the length of ownership periods so you can see how many times (if any) it has been re-sold. 

MOT History: 

Vehicles over three years old in the UK require an annual MOT test. This section shows the dates and outcomes of previous tests, including any advisories or failures. 

Plate Changes: 

If the vehicle has had different registration numbers in the past (such as private plates), this will be noted here.

How to Obtain a Vehicle History Report

There are several providers of vehicle history reports that can be provided for free in some cases, including HPI Check, The AA, RAC, and MotorCheck - an affiliate of ours.    

At Octane Finance, we recommend using a reputable provider and considering multiple reports for the most comprehensive view of a vehicle's history.

Interpreting Vehicle History Report Results

When reviewing a vehicle history report, we advise you to follow these four steps: 

1. Look for consistency - Does the information align with what the seller has told you?
2. Check for red flags: Multiple owners, frequent repairs, or unresolved issues could indicate potential problems.
3. Consider the impact: How might past issues affect the car's current condition and future reliability?
4. Seek professional advice: If you're unsure about any information in the report, consult with a trusted mechanic or automotive expert.

A vehicle history report is an invaluable tool when purchasing a used car. By understanding how to read and interpret these reports, you can make a more informed decision and potentially avoid costly mistakes. 

At Octane Finance, we're committed to helping our customers navigate the car-buying process with confidence. If you have any questions about vehicle history reports or need assistance with car financing, don't hesitate to reach out to our team of experts.

Remember, while a clean vehicle history report is a positive sign, it's not a guarantee of a car's genuine condition. Always combine this information with a thorough inspection and test drive before making your final purchase decision.

Frequently Asked Questions About Vehicle History Reports

We hope our guide to understanding a vehicle history report has helped explain how it works and its main purpose. As a leading broker of vehicle finance solutions in the UK, we are always on hand to answer any of your questions relating to buying a car - be it new or used. 

Below, we’ve shared the most common questions we get asked about vehicle history reports and have provided clear and concise answers to these FAQs:  

What does a vehicle check report tell you?

A vehicle check report (also known as a vehicle history report) provides a comprehensive overview of a car's history, including vehicle specifications, ownership history, MOT history, outstanding finance, write-off status, stolen vehicle check, mileage readings, and plate changes, among other things. 

How do I check my vehicle service history?

To check your vehicle's service history, firstly review the service book that came with the car, contact the dealership or garage where the car was serviced, use online services that compile service records, check for digital service records if it's a newer vehicle, and review the MOT history on the official UK government website, which may include some service information too. 

Does service history affect car value?

Yes, service history significantly affects a car's value. A full-service history demonstrates that the car has been well-maintained, which can increase its value and appeal to potential buyers. Cars with complete service histories typically command higher prices than those without.

How much does no service history devalue a car?

The absence of a service history can devalue a car by 20% to 30%, depending on the make, model, and age of the vehicle. For high-end or performance cars, the devaluation could be even greater. A partial service history may have less impact but can still affect the car's value overall.

What is a good service history for a car?

A good service history typically includes regular servicing at intervals recommended by the manufacturer, services performed by qualified mechanics or authorised dealerships, detailed records of all work carried out, evidence of addressing any issues promptly, and consistent mileage recordings that align with the car's age

Can I get a vehicle history report for free?

While comprehensive reports usually come at a cost, you can access some information for free. For example, the DVLA website provides basic vehicle information, you can access MOT history via the UK government's MOT history check service, and some external online platforms offer limited free checks before requiring payment for full reports. 

How far back does a vehicle history report go?

Most vehicle history reports aim to cover the entire lifespan of the vehicle, from its first registration to the present day. However, the level of detail may vary for older vehicles, especially those manufactured before digital record-keeping became standard practice.

What should I do if I find discrepancies in a vehicle history report?

If you find discrepancies then first discuss them with the seller and ask for clarification. Consider getting a second report from a different provider and having the vehicle inspected by a professional mechanic. If serious issues are uncovered, consider walking away from the purchase and sourcing another vehicle that meets your requirements. 

How often should I check my own vehicle's history?

It's good practice to check your vehicle's history annually or before selling. Regular checks can help you ensure all information is accurate, spot any potential issues (e.g., mileage discrepancies), and maintain an up-to-date record for future buyers. 

Can a vehicle history report predict future problems?

While a vehicle history report can't predict future issues with certainty, it can highlight patterns or recurring problems that might indicate potential future issues. For example, frequent repairs of the same component might suggest an ongoing problem in the long term.

Unlock Your Vehicle Potential

Here at Octane Finance, we understand that choosing the right vehicle is just as important as selecting the right finance option. That's why we're committed to providing you with all the tools and information you need - from understanding vehicle history reports to exploring the best finance deals available.

Don't let financing stand in the way of your dream vehicle. Partner with us today and experience the difference that a leading car finance broker can make in your journey to vehicle ownership. Contact us to explore how we can help you drive away in your ideal vehicle with a finance solution that fits your lifestyle and budget.