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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 smarter financial decisions by offering interactive financial calculators and tools, publishing original and objective content. We also allow users to conduct research and compare information at no cost to help you make informed financial decisions. Bankrate has agreements with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Profit The products that appear on this site are from companies that compensate us. This compensation may impact how and where products are displayed on this site, including for instance, the order in which they be listed within the categories of listing in the event that they are not permitted by law. This applies to our mortgage home equity, mortgage and other products for home loans. However, this compensation will affect the information we publish, or the reviews you see on this site. We do not cover the entire universe of businesses or financial offers that may be available to you.
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4 min read Published October 11, 2022
Writer: Kellye Guinan. Written by personal and business finance contributor
Kellye Guinan is a freelance editor and writer with more than five years of experience in personal financial matters. She is also a full-time librarian at the local library in which she assists the community gain access to information on financial literacy, in addition to other topics.
Editor: Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate from late 2022. He believes in the clarity of his reporting, which helps readers confidently find deals and make the best decisions for their financials. He is a specialist in small and auto loans.
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With new car prices at record highs, you might be thinking about purchasing a used car. But be careful — car theft is spiking and you don’t want to purchase a stolen ride. In 2021, 932,329 cars were reported as stolen, an increase of 10.9 percent from 2020, according to the National Insurance Crime Bureau (NICB). There is also a chance that the vehicle you’re considering buying is a cloned vehicle. Car cloning is when a car-thief steals the license plate and registration labels from a legitimate car and places the same on a stolen vehicle with a similar model and model. The criminal may also utilize fake documents to offer you a hot car. Proceed with caution when buying through a private seller or from a dealer. If you feel something is strange, you should look elsewhere. There are plenty of second hand cars on the market. 6 steps to find out whether the car you’re purchasing is stolen To avoid the headache of purchasing an unoriginal car, you must adhere to these steps. 1. Check the VIN thoroughly. You can verify the VIN with the government agencies as well as the department of motor vehicle. You can also verify the vehicle’s VIN through the NICB’s VIN Check service, suggests Renee Valdes, senior advice editor at Kelley Blue Book. This service is free and will inform you if there are any insurance documents of a lost car, including a vehicle which isn’t yet recovered. “Some vehicles put the VIN inside the front driver door or on the windshield and some owners might have the VIN etched on the window or even inside the engine,” Valdes says. Valdes. “Carmakers are trying to make it difficult for thieves to steal VINs and create fraudulent ones.” The VIN can also be stamped into the vehicle’s dashboard. Be careful, particularly with letters and numbers that look like each other. Since the VIN should be in multiple places, examine each to ensure that they are in line. If not, they may have been tampered with. 2. Buy a report on the history of your vehicle. Order a vehicle history report using the VIN, suggests Valdes. Businesses that provide vehicle history reports include or . “These aren’t expensive, and they’re worth it,” says Valdes. The reports on vehicle history include details like: Service history Information on the title Liens that are held in the car’s accident history and damage Previous owners although the report will show the names of the former owners but doesn’t include the names of the owners. “If the history is complete to the present, there’s a good chance it’s been well-maintained and not stolen,” says Valdes. If there are gaps in the history or the vehicle isn’t up-to the present, it could indicate the car has been taken. 3. Conduct a title search can search for a vehicle’s title through the . If the person who is trying to sell the car isn’t listed in the document, then you’ll know that it’s a stolen vehicle. Accessing the car’s title can help you identify any contradictions between what the seller is saying versus what’s on the title, like when the vehicle is an and the mileage was when it was last sold. 4. Ask the seller for the car’s service history If the seller has you maintenance receipts There is a greater chance it is not a stolen car as explained by Valdes. Check to see if the VIN the make, model and year on the receipts match the car. Check the maintenance records against the history of your vehicle report to see if they match. “A car is typically the second biggest purchase for consumers,” says Valdes. “I always treated my car as if I would sell it someday and that means taking good care of your vehicle and having regular oil changes.” Additionally, ask whether you are able to look up the prior bill of sale from when the seller bought the vehicle. It’s not too late to inquire about the contact details of the seller and what they originally purchased the car for. A legitimate seller shouldn’t hesitate to give you the information you need. 5. Ask your auto insurance company to conduct an inspection. Find out if your insurance company they’re willing to check the vehicle for safety and any red flags 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. In addition, some states and insurance companies could require an inspection of your vehicle prior to you . This typically happens before the insurance company is able to approve your auto insurance policy. In most cases, it’s only required if you are buying specific types of insurance for example . 6. Take your time if the price seems too good to be true, or the seller is incredibly eager to sell you the car and wants you to skip , trust your instincts. Between other sellers as well as used vehicle dealerships there are many legitimate options out there. You may notice differences from what the vendor is telling you about the vehicle and what you find out in your research. This isn’t always a red flag. Not every car owner keeps detailed records. If the vehicle was purchased and sold multiple times, there may be an inaccuracy. If you notice any discrepancies with no reasonable explanation, walk away. What should you do if the car you’re buying is stolen? If you learn whether the vehicle you’re purchasing is missing, you must file an official police report. Give your sales receipt along with any other pertinent documents and details. Unfortunately, if the car you bought was stolen, or is an “cloned vehicle,” it was never truly yours. This means you are not the car’s legal owner, and it will be confiscated and then returned to the rightful owner. If a claim for theft was already made to the insurance company, then the car is returned to the insurance company. If it is not, it will be considered a loss. If you’re not buying the car yet, walk away and don’t look back, suggests Valdes. When it’s safe to do this, file a police report. The key point is that as criminals are becoming more clever Be aware of possible risks and study the car thoroughly, advises Valdes. This includes doing a search on the VIN and requesting a vehicle history report and asking for additional documents and information to help you spot any signs of theft. “Don’t let yourself be swayed from taking every precaution, even in the booming used automobile industry,” 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 5 years experience working in the field of personal finances. She also works full-time as a worker at her local library in which she assists the community access information about financial literacy, as well as other subjects.
Edited by Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate since the end of 2022. He is a fan of transparent reporting that allows readers to successfully get deals and make best choices for their finances. He is a specialist in small and auto loans.
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