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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 mission is to help you make better financial decisions by offering interactive tools and financial calculators, publishing original and objective content. This allows you to conduct your own research and compare data for free - so that you can make financial decisions with confidence. Bankrate has partnerships with issuers, including but not restricted to, American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Earn Money The products that appear on this website are provided by companies that pay us. This compensation could affect how and when products are featured on this website, for example for instance, the sequence 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 and other home lending products. However, this compensation will not influence the content we publish or the reviews that appear on this website. We do not contain the universe of companies or financial offerings that could be accessible to you.
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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 5 years experience working in the field of personal finance. She is also a full-time worker at her local library in which she assists the 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 since late 2022. He is a fan of clear reporting that helps readers easily land deals and make the best choices for their finances. He specializes in auto and small business loans.
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With the cost of new cars hitting the record-setting levels, you may be looking into buying a used car. Be cautious -- car theft is spiking and you shouldn't to buy a car that was stolen. In 2021, 932,329 cars were reported as stolen, which is up 10.9 percent from the year before, according to the (NICB). There is also a chance that the vehicle you're looking to buy is a cloned vehicle. Cloning a car is the process where a car burglar steals the license plate and registration labels from a legitimate vehicle and then puts the same on a stolen vehicle that is similar in make and model. The thief may also make use of fake documents to sell you a brand new car. Be cautious when purchasing from a private dealer or from a dealer. If you feel something is off, look elsewhere. There are plenty of second hand automobiles available. 6 steps to check if the car you're buying is stolen. To be safe from the stress of purchasing a fake car, make sure you adhere to these steps. 1. Verify the VIN thoroughly. You can do this by checking the VIN with the government agencies as well as the department of motor vehicle. You can also look up the vehicle's VIN through the NICB's VIN Check service, suggests Renee Valdes, senior advice editor at Kelley Blue Book. This free service can inform you whether there are insurance documents of a lost car, or even one that has not yet been recovered. "Some vehicles have the VIN inside the front driver doors or even on their windshields, and some owners can have the VIN written on the window or even inside the engine," Valdes says. Valdes. "Carmakers would like to make it harder for criminals to steal VINs or create counterfeit one." It is possible that the VIN can also be stamped into the vehicle's dashboard. Be thorough, especially with letters and numbers that look like each other. Because the VIN should be in multiple locations, look at each one to see if they match. If not it could be because they were tampered with. 2. Buy a car history report Request a report on the history of your vehicle using the VIN, suggests Valdes. Businesses that provide vehicle history reports include or . "These reports aren't too expensive, and they're worth it," says Valdes. Reports on the history of a vehicle include things like Service history Title information Liens held on the car Accident history and damage Previous owners although the report will show the number of previous owners, it will not provide the names of owners. "If the history is correct to the present and it's in good condition, then it's well taken care of and isn't stolen," says Valdes. If there are any gaps in the history, or the vehicle isn't up-to the present, it could be a sign that the car has been taken. 3. Perform a title search can look up a car's title using the . If the person who is trying to sell you the car isn't listed on the title, you'll know that it's a stolen vehicle. Having access to the title of the vehicle can help detect any discrepancies in what the seller is saying against what's written on the title, for instance if the car is a and the mileage 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 better chance that it's not a stolen car according to Valdes. Check to see whether the VIN the make, model and year on the receipts correspond to the car. Check the maintenance records against the vehicle history report and determine if they're in alignment. "A car is often a consumer's second largest purchase," says Valdes. "I always treated my vehicle as if I'd eventually sell it 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 when the seller first purchased the vehicle. It's not too late to inquire about the contact information of the seller as well as how much they originally bought the vehicle for. A legitimate seller shouldn't hesitate to give you this information. 5. Ask your auto insurance company for an inspection Find out if your insurance company it is willing to examine the vehicle for safety and any signs of fraudulent activity. You should still do yourself due due diligence, however, your insurance provider may be able find additional information to confirm that the vehicle is above the legal limit. Furthermore, certain states or insurance companies may require an inspection of your car when you . This usually happens prior to the insurance company has approved your auto insurance policy. It is only needed if you're purchasing certain types of coverage for example . 6. Trust your gut If the price is too good to be authentic, or the dealer is incredibly keen 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 trustworthy options to choose from. You may notice differences between what the seller is telling you about the car and what you discover in your research. It's not necessarily a sign of a problem. Some car owners don't keep precise records. And if the car has been purchased and sold numerous times, there may be an inaccuracy. But if you spot discrepancies that aren't explained, walk away. What do you do if you find that the car you're buying is stolen If you find out whether the vehicle you're purchasing is missing, you must file a police report. You must provide your purchase bill and any pertinent documents and information. Unfortunately, if the car you bought was stolen, or is a "cloned vehicle," it was never actually yours. This means you are not the legal owner of the vehicle and it is taken away and given to the correct owner. If a theft claim has been made an insurance firm, the vehicle is returned to the insurance company. The loss will be the same. If you're not buying the vehicle yet, simply walk away without looking at it, suggests Valdes. Once it's safe to do so, file the police report. The key point is that as thieves are getting craftier, stay alert about potential dangers and research the car thoroughly, says Valdes. This includes doing a search of the VIN, ordering a vehicle history report and asking for additional documents and information to determine whether the vehicle has been stolen. "Don't be afraid to take every precaution, especially in this white-hot used car marketplace," says Valdes.
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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 finance. She is also a full-time employee at the library in her town where she helps her community get information about financial literacy, in addition to other topics.
Edited by Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate from late 2022. He values the clarity of his reporting, which helps readers successfully find deals and make the most appropriate choices regarding their finances. He is a specialist in small business and auto loans.
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