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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 providing you with interactive tools and financial calculators as well as publishing honest and original content, by enabling you to conduct research and compare information for free and 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 Money The offers that appear on this website are provided by companies that compensate us. This compensation may impact how and when products are featured on this site, including such things as the order in which they be listed within the categories of listing, except where prohibited by law. This applies to our mortgage or home equity products, as well as other products for home loans. However, this compensation will affect the content we publish or the reviews you read on this site. We do not include the vast array of companies or financial offerings that could be open to you.
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4 min read. Published on October 11, 2022.
Written by Kellye Guinan. Written by personal and Business Finance contributor
Kellye Guinan is a freelance editor and writer with over five years of experience in personal finance. She is also a full-time librarian at the local library in which she assists the community get information about financial literacy, as well as other subjects.
Editor: Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate since late 2022. He values clear reporting that helps readers confidently find deals and make the best decisions for their financials. He is a specialist in auto and small business loans.
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With prices for new cars at new highs, you may be thinking about buying a used car. But be careful because car theft is spiking and you don’t want to buy a car that was stolen. In 2021 932,329 cars were reported as stolen, which is up 10.9 percent from 2020 according to the (NICB). There’s also the possibility that the car you’re considering buying is a replica of the vehicle. Car cloning is when a car-thief steals the license plate and registration labels from a legitimate vehicle and then puts them on a stolen car with a similar model and model. The thief also might utilize fake documents to offer you a car that is hot. Be careful when purchasing through a private seller or from a dealer. If something seems odd, consider a different source. There are a lot of used vehicles available for sale. 6 steps to find out whether the car you’re considering buying is stolen. To be safe from the stress of purchasing a fake car, make sure you adhere to these steps. 1. Make sure to check the VIN thoroughly. You can verify the VIN with the government agencies as well as your state’s department of motor vehicle. You can also check the car’s VIN via the National Insurance Crime Bureau’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 for a stolen vehicle, which includes one that has not yet been recovered. « Some vehicles place the VIN inside the front driver’s doors or even on their windshields and some owners may have the VIN written on the window or even inside the engine, » Valdes says. Valdes. « Carmakers would like to make it difficult for criminals to steal VINs and create fraudulent VINs. » The VIN could also be etched into the vehicle’s dashboard. Be cautious, especially when it comes to numbers and letters that appear similar. Because the VIN must be located in multiple locations, look at each one to ensure that they are in line. If not then they could have been tampered with. 2. Buy a car history report Order a vehicle history report with the VIN, suggests Valdes. Companies offering vehicle history reports include or . « These aren’t expensive and are worth the cost, » says Valdes. Vehicle history reports include information like Service history Title information Liens held on the car Accident history and damage Previous owners But even though the report will include the previous owners, it doesn’t list the names of the owners. « If you can trace the past up to date it’s likely that it’s well taken care of and not taken away, » says Valdes. However, if there’s gaps in the history or the car isn’t up to the current date, it could be a sign that the vehicle has been stolen. 3. Perform a title search can look up a car’s title by using the . If the person who is trying to sell you the car isn’t listed in the document, then you’ll know that the car is stolen. Having access to the title of the car can help you identify any contradictions between what the seller is saying versus what’s on the title, like when the vehicle is one and what the mileage was at the time it was last sold. 4. Ask the seller for the service records of the vehicle If the seller is able to show you receipts for maintenance, there is a better chance that it’s not a stolen vehicle, explains Valdes. Check to see if the VIN the model, make and year on the receipts correspond to the car. Review the maintenance logs with the history of your vehicle report to see if they match. « A car is often the second most expensive purchase for a consumer, » says Valdes. « I always thought of my car as if I’d eventually sell it and that means taking good care of the car and having regular oil changes. » In addition, inquire to see if you can get the previous invoice of sale that was issued when the seller bought the car. It’s not too late to inquire about the contact information of the seller as well as the price they initially purchased the vehicle for. A legitimate seller shouldn’t hesitate to give you the information you need. 5. Contact your insurance provider to inspect your car. Check with your insurance provider if they’re willing to check a car for safety and any signs of fraudulent activity. However, you should conduct the necessary due diligence but your insurance company may be able to provide additional details to verify that the car is legal all requirements. Additionally, certain states or insurance companies may need to inspect your car prior to you . This typically happens before the insurance company is able to approve your insurance policy for autos. And usually, it is only necessary if you’re purchasing certain types of coverage like . 6. Be sure to trust your gut. If the price is too good to be true, or the seller is overly keen to sell you the vehicle and is encouraging you to take a break the deal, go with your gut. Between other sellers as well as used vehicle dealerships, there are plenty of trustworthy options to choose from. You may notice differences in what the dealer is telling you about the vehicle and what you find out in your research. It’s not always a warning sign. Some car owners don’t keep meticulous records, and if the car has been purchased and sold multiple times, there could be an inaccuracy. But if you spot discrepancies without a reason take a step back. What should you do if the car you’re buying is stolen? If you discover whether the vehicle you’re purchasing is missing, you must file a police report. Provide your bill of sale and any pertinent documents and details. If the vehicle you purchase was stolen or is an « cloned vehicle, » it was never really yours. This means that you’re not the legitimate owner of the car and the vehicle is confiscated and then returned to the rightful owner. If a claim for theft has already been issued to the insurance company, the car will go to the car insurance company. The loss will be the same. If you’re not buying the vehicle yet, simply walk away without looking back, advises Valdes. Once it’s safe to do so, file a police report. The bottom line As thieves are getting craftier, stay alert about potential risks and study the car thoroughly, advises Valdes. This means doing a Google search on the VIN and requesting a vehicle history report, and requesting additional documents and details to help you spot if the car is stolen. « Don’t be afraid to take every precaution, even in this white-hot used car market, » says Valdes.
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Written by a Personal and Business finance contributor
Kellye Guinan is a freelance editor and writer with more than 5 years experience working in the field of personal financial matters. She also works full-time as a worker at her local library where she helps her community gain access to information on financial literacy, as well as other topics.
Editor: Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate from late 2022. He values the clarity of his reporting, which helps readers easily land deals and make the most appropriate choices regarding their finances. He is a specialist in auto and small business loans.
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