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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 better financial choices by providing you with financial calculators and interactive tools that provide objective and unique content. We also allow you to conduct your own research and compare information for free and help you make financial decisions with confidence. Bankrate has agreements with issuers such as, but not limited to American Express, Bank of America, Capital One, Chase, Citi and Discover. How We Make Money The offers that appear on this website are provided by companies that pay us. This compensation can affect the way and when products are featured on the site, such as for instance, the order in which they appear within the listing categories and other categories, unless prohibited by law for our mortgage, home equity and other products for home loans. However, this compensation will not influence the information we provide, or the reviews appear on this website. We do not contain the vast array of companies or financial deals that could be accessible to you.
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4 min read. Published on October 11, 2022.
Writer: Kellye Guinan. Written by Personal and Business Finance contributor
Kellye Guinan is a freelance editor and writer with over five years ' experience within personal financial matters. She also works full-time as a worker at her 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 is a fan of clear reporting that helps readers easily find deals and make the best choices for their finances. He is a specialist in small business and auto loans.
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With new car prices at record highs, you might be considering purchasing a used car. But be careful that car theft is on the rise, and you don't want to buy a car that was stolen. In 2021, 932,329 vehicles were reported as stolen, which is up 10.9 percent over 2020 According to the (NICB). There's also the possibility that the vehicle you're trying to purchase is a cloned vehicle. Cloning a car is when a car thief takes license plates, as well as registration marks from a legal vehicle and then puts the same on a stolen vehicle with a similar model and model. The criminal 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 off, look elsewhere. There are plenty of used automobiles available. Six steps to determine whether the car you're purchasing is stolen. To avoid the headache of purchasing a fake car, make sure you take these steps. 1. Check the VIN thoroughly You can check the information with government agencies or your state's department of motor vehicle. You can also verify a vehicle's VIN by using the NICB's VIN Check, recommends Renee Valdes, senior advice editor at Kelley Blue Book. This free service will tell you if there are any insurance records of a stolen car, including a vehicle which isn't yet recovered. "Some vehicles put the VIN in the driver's front entrance or the glass and some owners may have the VIN printed on the windows or even inside the engine," states Valdes. "Carmakers want to make it harder for criminals to steal VINs and make fake VINs." It is possible that the VIN can also be stamped on the dashboard of the car. Be cautious, especially when it comes to numerals and letters that look similar. Since the VIN must be located in multiple places, examine each to ensure that they are in line. If not it could be because they were altered. 2. Purchase a vehicle history report Get a history report for your car with the VIN and 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 such as Service history, title information Liens in the car's accident history and damage Previous owners But although the report will show the number of former owners but doesn't include the names of the owners. "If you can trace the past complete to the present it's likely that it's been well-maintained and isn't stolen," says Valdes. If there are any gaps in the history, or it's not up to date, that could indicate the car is stolen. 3. Conduct a title search can search for a vehicle's title through the . If the person trying to sell the car isn't the person listed in the document, then you'll know it's a stolen car. Having access to the car's title can help you detect any discrepancies in what the seller is telling you in relation to the information on the title, for instance if the car is one and what the mileage was at the time it was last sold. 4. Ask the seller for the vehicle's service records If the seller is able to show you maintenance receipts you have a better chance that it's not a stolen car, explains Valdes. Examine the receipts to determine if the VIN the model, make and year on the receipts correspond to the vehicle. Compare the maintenance records with the car's history report and see if they match. "A car is often the second biggest purchase for consumers," says Valdes. "I always treated my vehicle as if I'd sell it someday, which means taking good care of the car and ensuring regular oil change." Additionally, ask whether you are able to get the previous bill of sale from when the seller bought the vehicle. It can't hurt to request the contact information of the seller as well as how much they originally bought the vehicle for. An honest seller should not hesitate to supply you with this information. 5. Contact your insurance provider to conduct an inspection. Ask your insurance company if it is willing to examine the vehicle for safety and any red flags of fraud. It is still recommended to conduct your own due diligence but your insurance company may be able to find additional evidence to prove that your vehicle is safe and legal all requirements. In addition, some states and insurance companies could need to inspect your car when you . This typically happens before the insurance company is able to approve your insurance policy for autos. It is only required if you are purchasing certain types of coverage, such as . 6. Take your time if the price seems too good to be real, or the seller is overly eager to sell the car and is urging you to take a break and go elsewhere, follow your gut. There are many sellers, as well as used vehicle dealerships, there are many genuine options available. You might notice a difference between what the seller tells you about the vehicle and what you learn during your research. It's not always a warning sign. Not every car owner keeps detailed records. If the vehicle was purchased and sold multiple times, it could have certain information that is not there. However, if you find any irregularities that aren't explained then walk away. What do you do if you find that the car you're buying is stolen? If you discover whether the vehicle you're purchasing is stolen, make an official police report. Give your sales receipt as well as any relevant documents and information. Unfortunately, if the car you purchased was stolen or is a "cloned vehicle," it was never really yours. That means that you're not the car's legal owner and it is confiscated and then returned to the rightful owner. If a claim for theft has already been issued to the insurance company, the vehicle will be returned to the insurance company. Any will be a loss. If you're not buying the vehicle yet, simply walk away without looking back, advises Valdes. Once it's safe to do this, file an official police report. The most important thing to remember is that thieves are getting craftier Be aware of possible dangers and research the car thoroughly, says Valdes. This includes doing a lookup of the VIN or requesting a car history report, and asking for additional documents and information to determine if the car is stolen. "Don't be afraid to take every precaution, especially in the booming used car market," 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 financial matters. 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 subjects.
Editor: Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate since the end of 2022. He is a fan of the clarity of his reporting, which helps readers easily land deals and make the best decisions for their financials. He is a specialist in small and auto loans.
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