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4 min read Published October 11, 2022
Written by Kellye Guinan Written by Personal and Business Finance contributor
Kellye Guinan is a freelance editor and writer who has more than five years of experience in personal finances. She’s also a full-time employee at the library in her town which she assists her local community to get information about financial literacy, among other topics.
Edited by Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate since late 2022. He values transparent reporting that allows readers to successfully find deals and make the best choices for their finances. He is a specialist in small and auto loans.
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With the cost of new cars hitting new highs, you may be considering buying a used car. But be careful that the theft rate is increasing and you don’t want to purchase a vehicle that has been stolen. In 2021, 932,329 cars were reported stolen, up 10.9 percent from the year before According to the (NICB). There’s also a chance that the car you are considering buying is a replica of the vehicle. Cloning a car is the process where a car burglar steals license plates, as well as registration labels from a legitimate vehicle and puts the same on a stolen vehicle of a similar make and model. The criminal may also utilize fake documents to offer you a hot car. Be careful when purchasing from a private seller or a dealer. If something seems odd, consider a different source. There are a lot of used vehicles available for sale. Six steps to determine whether the car you’re considering buying is stolen. To avoid the hassle of buying an unoriginal car, you must take these steps. 1. Make sure to check the VIN thoroughly You can check the with government agencies and your state’s department of motor vehicle. You can also check a vehicle’s VIN by using the National Insurance Crime Bureau’s VIN Check, which is recommended by Renee Valdes, senior advice editor at Kelley Blue Book. This free service will tell you if there are any insurance documents for a stolen car, including a vehicle which isn’t yet recovered. “Some vehicles have the VIN in the driver’s front doors or even on their windshields and some owners may have the VIN written on the window or inside the engine,” states Valdes. “Carmakers would like to make it more difficult for criminals to steal VINs or create fraudulent VINs.” It is possible that the VIN can also be stamped on the dashboard of the car. Be careful, particularly with numbers and letters that appear like each other. Since the VIN must be located in multiple places, examine each to see if they match. If not then they could have been tampered with. 2. Purchase a vehicle history report Order a vehicle history report with the VIN and suggests Valdes. The companies that offer car history reports include . “These aren’t very costly and are worth the cost,” says Valdes. Reports on the history of a vehicle include things like: Service history title information Liens in the car’s accident history and damage Previous owners But although the report will show the number of prior owners of the vehicle, it doesn’t provide the names of owners. “If the history is complete to the present it’s likely that it’s in good hands and not taken away,” says Valdes. However, if there are holes in the history or it’s not up to the current date, it could indicate that the vehicle has been stolen. 3. Do a title search You can look up a car’s title using the . If the person trying to sell you the car isn’t the person listed on the title, you’ll know it’s a stolen car. The car’s title can help you determine any differences between what the seller is telling you in relation to the information on the title, like if the car is an and the mileage was when it was sold last. 4. Ask the seller for the service records of the vehicle If the seller is able to show you maintenance receipts There is a greater chance that it’s not a stolen vehicle according to Valdes. Examine the receipts to determine if the VIN the make, model and year on the receipts correspond to the car. Check the maintenance records against the history of your vehicle report to determine if they’re in alignment. “A car is typically a consumer’s second largest purchase,” says Valdes. “I always thought of my car as if I would sell it someday that’s why I took proper care of it and ensuring regular oil change.” Additionally, ask whether you are able to get the previous bill of sale when the seller first purchased the car. It can’t hurt to request the seller’s contact information and how much they originally bought the car for. A trustworthy seller will be able to give you this information. 5. Ask your auto insurance company for an inspection Find out if your insurance company they’re willing to check a car for safety and any signs of fraud. It is still recommended to conduct yourself due due diligence but your insurance company may be able to find additional evidence to prove that the vehicle is above all requirements. Furthermore, certain states and insurance companies could need to inspect your car before you . This usually happens prior to the insurance company approves your auto insurance policy. In most cases, it’s only necessary if you’re purchasing certain types of coverage like . 6. Trust your gut If the price is too good to be authentic, or the dealer is incredibly eager to sell you the car and wants you to pass , trust your instincts. In between other sellers as well as used vehicle dealerships there are many trustworthy options to choose from. You might notice a difference from what the vendor tells you about the vehicle and what you learn in your research. This isn’t always a warning sign. Not every car owner keeps precise records. And if the vehicle was purchased and sold numerous times, it could have some missing information. If you notice any discrepancies with no reasonable explanation, walk away. What do you do if you find that the car you’re buying has been stolen? If you learn that the vehicle you’re purchasing is stolen, make an investigation with the police. Provide your bill of sale along with any other pertinent documents and information. In the unfortunate event that the vehicle you purchase was stolen or is an “cloned car,” it was never truly yours. This means that you’re not the car’s legal owner and it will be confiscated and then returned to the correct owner. If a claim for theft has been made an insurance firm, the car will go to the car insurance company. Any will be a loss. If you’re not buying the vehicle yet, simply walk away from the car and do not look back, suggests Valdes. Then, when it’s safe to do so, you can file the police report. The key point is that as criminals are becoming more clever Be aware of possible threats and investigate the vehicle thoroughly, advises Valdes. This means doing a Google search on the VIN or requesting a car history report, and requesting additional information and documents to identify if the car is stolen. “Don’t back down from taking every precaution in this hot used automobile market,” says Valdes.
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Written by Business and personal finance contributor
Kellye Guinan is a freelance editor and writer who has more than five years ‘ experience within personal financial matters. She also works full-time as a librarian at the local library which she assists her local community to access information about financial literacy, in addition to other topics.
Edited by Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate since the end of 2022. He believes in clear reporting that helps readers confidently get deals and make best choices for their finances. He specializes in small business and auto loans.
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