Open navigation Main Menu Mortgages
refinancing your existing loan Finding the best lender Additional Resources
Looking for a financial advisor? Take our 3 minute quiz and then match up the advisor you want today.
Main Menu Banking
Calculators to compare accounts Use the calculators and get advice Bank reviews
Looking for a financial advisor? Try our three minute test and connect with an advisor today.
Main Menu Credit cards
Compare by category Compare by credit needed Compare by issuer Get help
You’re looking for the ideal credit card? Find it with CardMatch(tm)
Main Menu Loans
Personal Loans Student Loans Calculators for Loans, Auto Loans
Find an individual loan within two minutes or less Answer some questions to get offers–with no impact to your credit score.
Main Menu Investing
Top of the Brokerages, and robo-advisors Learn the basics Additional information
Looking for a financial advisor? Do our 3-minute quiz and connect to an adviser today.
Main Menu Home equity
Get the best rates Lender reviews. Use calculators. Knowledge base
Looking for a financial advisor? Do our 3-minute quiz and connect with an advisor today.
Main Menu Real estate
Selling a home Buying homes Finding the right agent Additional resources
Looking for a financial advisor? Do our 3-minute quiz and connect the advisor you want today.
Main Menu Insurance
Car Insurance Homeowners insurance Other Insurance Company reviews
Looking for a financial advisor? Take our 3 minute quiz and match to an adviser today.
Main Menu Retirement
Retirement plans & accounts Learn the basics Retirement calculators Additional resources
Looking for a financial advisor? Do our 3-minute quiz and then match up with an advisor today.
Open search Close search
Submit
How to tell if you’re buying a stolen car Advertiser Disclosure Advertiser Disclosure We are an independent, advertising-supported comparison service. Our goal is to help you make better financial decisions by providing you with interactive financial calculators and tools that provide objective and unique content. This allows users to conduct research and compare data for free and help you make informed financial decisions. Bankrate has agreements with issuers such as, but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Profit The deals that are advertised on this website are provided by companies that compensate us. This compensation may impact how and when products are featured on this website, for example for instance, the order in which they be listed within the categories of listing and other categories, unless prohibited by law for our mortgage, home equity and other products for home loans. This compensation, however, does not influence the information we provide, or the reviews you see on this site. We do not include the universe of companies or financial offers that may be open to you.
SHARE:
Whisson/Jordan/Getty Images
4 min read Published 11 October 2022
Written by Kellye Guinan Written by Personal and Business Finance contributor
Kellye Guinan is a freelance editor and writer with over five years ‘ experience within personal finance. She is also a full-time employee at the library in her town which she assists her local community to access information about financial literacy, among other subjects.
Editor: Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate since the end of 2022. He values clear reporting that helps readers easily get deals and make most appropriate choices regarding their finances. He is a specialist in small and auto loans.
The promise of the Bankrate promise
More details
At Bankrate we aim to help you make smarter financial decisions. We adhere to the highest standards of journalistic integrity ,
This post could contain some references to products offered by our partners. Here’s an explanation for how we make money .
The promise of the Bankrate promise
Established in 1976, Bankrate has a long track record of helping people make informed financial decisions.
We’ve earned this name for more than 40 years by making financial decisions easy to understand
process, and giving people confidence in which actions to follow next. process and gives people confidence in the next step.
so you can trust you can trust us to put your needs first. All of our content is written by and edited by ,
They ensure that what we write is objective, accurate and reliable. The loans journalists and editors focus on the things that consumers care about the most — the various types of loans available and the most competitive rates, the top lenders, ways to repay debt and much more. So you can feel confident when making your investment.
Integrity in editing
Bankrate has a strict policy standard of conduct, which means you can be confident that we’ll put your needs first. Our award-winning editors and journalists create honest and accurate content to assist you in making the right financial decisions. Our main principles are that we respect your confidence. Our goal is to provide readers with reliable and honest information, and we have editorial standards in place to ensure this is the case. Our editors and reporters thoroughly verify the truthfulness of content in order to make sure that the information you’re reading is true. We maintain a firewall between our advertisers and our editorial team. The editorial team of Editorial Independence Bankrate does not receive compensation directly from our advertisers. Editorial Independence Bankrate’s team of editors writes for YOU as the reader. Our goal is to give you the most accurate guidance to make intelligent financial decisions for your personal finances. We follow the strictest guidelines in order to make sure that content isn’t influenced by advertisers. Our editorial team receives no directly from advertisers, and all of our content is fact-checked to ensure accuracy. Therefore, whether you’re reading an article or review, you can be sure that you’re receiving trustworthy and dependable information.
How do we earn money?
If you have questions about money. Bankrate has the answers. Our experts have helped you understand your money for more than four years. We are constantly striving to provide consumers with the expert guidance and the tools necessary to be successful throughout their financial journey. Bankrate adheres to strict standards standard of conduct, so you can rest assured that our content is honest and accurate. Our award-winning editors and journalists create honest and accurate information to assist you in making the best financial decisions. The content we create by our editorial staff is objective, factual, and not influenced by our advertisers. We’re open regarding how we’re in a position to provide quality content, competitive rates, and useful tools to you , by describing how we earn money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may affect the way, location and in what order products appear in listing categories, with the exception of those it is prohibited by law for our mortgage home equity, mortgage and other home loan products. Other factors, like our own website rules and whether a product is offered in your region or within your self-selected credit score range could also affect the manner in which products are featured on this website. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
With new car prices at the record-setting levels, you may be thinking about buying a used car. But be careful — car theft is spiking, and you don’t want to purchase a stolen ride. In 2021, 932,329 vehicles were reported as stolen, an increase of 10.9 percent over 2020 According to the (NICB). There is also a chance that the car you are looking to buy may be a copy of a vehicle. Car cloning occurs the process where a car burglar steals the license plate, and registration labels from a legitimate car and places them on a stolen car that is similar in make and model. The thief may also use counterfeit documents to sell you a hot car. Be cautious when purchasing from a private seller or a dealer. And if something feels strange, you should look elsewhere. There are a lot of used cars on the market. Six steps to determine whether the car you’re purchasing is stolen To avoid the hassle of buying an unoriginal car, you must follow these six steps. 1. Check the VIN thoroughly. You can do this by checking the information with government agencies or your state’s department of motor vehicles. You can also check the vehicle’s VIN through the NICB’s VIN Check, which is recommended by Renee Valdes, senior advice editor at Kelley Blue Book. This service is free and will inform you if there are any insurance records of a stolen car, or even one which isn’t yet recovered. “Some vehicles place the VIN in the driver’s front door or on the windshield and some owners can have the VIN printed on the windows or inside the engine” Valdes says. Valdes. “Carmakers would like to make it more difficult for thieves to steal VINs or create counterfeit one.” The VIN could also be etched into the vehicle’s dashboard. Be thorough, especially with letters and numbers that look identical. Because the VIN should be in multiple locations, check each to ensure that they are in line. If they don’t, they may have been altered. 2. Buy a report on the history of your vehicle. Order a vehicle history report by using the VIN and suggests Valdes. The companies that offer car history reports include . “These reports aren’t too expensive and are well worth the investment,” says Valdes. Vehicle history reports include information like Service history title information Liens in the car’s accident history and damage Previous owners But while the report will list the prior owners of the vehicle, it won’t provide the names of owners. “If your history goes up to date it’s likely that it’s in good hands and not taken away,” says Valdes. However, if there’s holes in the history or the vehicle isn’t up-to the present, it could indicate that the vehicle has been stolen. 3. Perform a title search can search for a car’s title using the . If the person trying to sell you the vehicle doesn’t match the name on the title, then you’ll know it’s a stolen car. Accessing the title of the car can help you determine any differences between what the seller has to say in relation to the information on the title, like when the vehicle 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. Check to see if the VIN the make, model and year on the receipts matches the car. Check the maintenance records against the vehicle history report and check if they are in line. “A vehicle is usually a consumer’s second largest purchase,” says Valdes. “I always thought of my car as if I would sell it someday and that means taking proper care of it and having regular oil changes.” In addition, inquire whether you are able to get the previous invoice of sale that was issued the time that the seller purchased the car. It can’t hurt to request the seller’s contact information and how much they originally bought the vehicle for. A trustworthy seller will be able to provide you with the information you need. 5. Contact your insurance provider to inspect your car. Find out if your insurance company they’re willing to check a car for safety and any red flags of fraudulent activity. However, you should conduct yourself due due diligence however, your insurance provider may be able to provide additional details to verify that your vehicle is safe and legal the legal limit. Additionally, certain states and insurance companies could require an inspection of your car prior to you . This is usually required prior to when the insurance company has approved the auto insurance policy. It is only needed if you’re buying specific types of insurance, such as . 6. Be sure to trust your gut. If the price is too good to be true, or the seller is too eager to sell the car and is urging you to skip the deal, go with your gut. Between other sellers or used auto dealerships there are many trustworthy options to choose from. There may be a difference between what the seller is telling you about the vehicle and what you learn through your investigation. It’s not necessarily a sign of a problem. There are many car owners who keep detailed records. If the car has been purchased and sold several times, it could have some missing information. But if you spot discrepancies that aren’t explained, walk away. What do you do if you find that the vehicle you’re purchasing is stolen If you find out if the car you’re buying is stolen, file a police report. You must provide your purchase bill as well as any relevant documents and details. In the unfortunate event that the vehicle you purchased was stolen or is a “cloned vehicle,” it was never truly yours. This means that you’re not the car’s legal owner and it is taken away and given to the owner who is rightfully entitled. If a theft claim has already been issued to the insurance company, the vehicle is returned to the insurance company. Any will be a loss. If you haven’t purchased the car yet, walk away without looking back, advises Valdes. When it’s safe to do so, you can file a police report. The key point is that as thieves are getting craftier and more sophisticated, be aware of potential threats and investigate the vehicle thoroughly, advises Valdes. This could include doing a search on the VIN, ordering a vehicle history report, and asking for additional documents and details to help you spot if the car is stolen. “Don’t back down from taking every precaution, especially in this hot used car industry,” says Valdes.
SHARE:
Written by Business and personal finance contributor
Kellye Guinan is a freelance editor and writer with over five years of experience in personal finances. She also works full-time as a librarian at the local library in which she assists the community get information about financial literacy, as well as other subjects.
Edited by Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate from late 2022. He is a fan of the clarity of his reporting, which helps readers confidently land deals and make the most appropriate choices regarding their finances. He specializes in small and auto loans.
Other Articles Related to Auto Loans 4 min read Feb 28, 2023
Auto Loans 5 minutes read on Oct 13, 2022
Auto Loans 5 min read October 10, 2022
Auto Loans 3 min read on May 10, 2022
About
Help
Legal Cookie settings Don’t sell my info
How we make money Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for the placement of sponsored products and, services, or by you clicking on specific links on our website. This compensation could affect the way, location and in what order products are listed, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, like our own proprietary website rules and whether a product is available in your area or at your own personal credit score may also influence the way and place products are listed on this website. We strive to offer an array of offers, Bankrate does not include information about every financial or credit product or service. Bankrate, LLC NMLS ID# 1427381 | BR Tech Services, Inc. NMLS ID #1743443 |
|
(c) 2023 Bankrate, LLC. The Red Ventures company. All Rights Reserved.
Should you adored this short article in addition to you want to obtain more info about online same day payday loans low interest; https://paymeoq.ru, generously stop by our own web site.