Watch the following video or read the article below to discover how MotorCheck makes it cost effective to monitor the finance status of a vehicle.
Running duplicate reports just to check if the finance status has changed on a car history check can lead to unnecessary costs. To help you avoid these costs, MotorCheck offers three unique key features:
1. Verify Finance
When you run a MotorCheck report, the Verify Finance feature gives you the ability to check directly with the finance company in question that the lien is still in place. You might want to use this option if the seller is claiming that finance has already been settled or that the agreement record is out of date.
Once you request a finance verification, a member of our support team will contact the finance company in question and update the report in line with their current records. You will receive an email with the outcome of the verification that looks like this;
The record will still remain visible on the report until the finance company removes it from the central register but it will carry a 'Clear' status and not trigger a red flag on the top of the report.
Finance Verifications are subject to a small fee. Please refer to your MotorCheck pricing for confirmation.
Finance Rechecks
Note: The following is not a default feature. If you could like to have it activated on your account please contact your account manager.
2. Recheck Finance
If you suspect that the finance status may have changed after your initial report, instead of purchasing a whole new report, you can use the Recheck Finance feature.
This option allows you to update the finance status on your existing report. It's a cost-effective way to confirm if the outstanding finance has been settled or if any new agreements have been registered since your last check.
Schedule a Finance Recheck
For ongoing purchases or cases where finance statuses might change over time, the Schedule a Finance Recheck feature is invaluable. This allows you to set up automatic rechecks at intervals that suit your needs. By scheduling a recheck, you can stay informed about any changes in the finance status without manually rechecking or purchasing new reports each time.
This proactive approach ensures you’re always working with the most current information, and it’s particularly useful if you're monitoring a vehicle over a longer period.
Why Use These Features?
Many users unknowingly run multiple reports just to check if a vehicle's finance status has changed. This can lead to unnecessary expenses. By using Recheck Finance and Schedule a Finance Recheck, you can avoid these extra costs while ensuring you always have the most accurate and up-to-date information.