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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 aim is to assist you make better financial decisions by providing you with interactive financial calculators and tools as well as publishing honest and original content. This allows you to conduct your own 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 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 this website, for example, for example, the order in which they may be listed within the categories of listing and other categories, unless prohibited by law. Our mortgage home equity, mortgage and other home lending products. But this compensation does not influence the information we provide, or the reviews that you read on this site. We do not cover the vast array of companies or financial deals that could be open to you.
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4 min read Published 11 October 2022
Authored by Kellye Guinan. Written by personal and business finance contributor
Kellye Guinan is a freelance editor and writer who has more than five years ‘ experience within personal finance. She also works full-time as a employee at the library in her town 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 late 2022. He believes in clear reporting that helps readers easily land deals and make the best choices for their finances. He specializes in small business and auto loans.
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With prices for new cars at the record-setting levels, you may be looking into buying a used car. Be cautious because car theft is on the rise and you shouldn’t to purchase a vehicle that has been stolen. In 2021, 932,329 cars were reported stolen, up 10.9 percent over 2020, according to the National Insurance Crime Bureau (NICB). There’s also a chance that the car you’re looking to buy is a replica of the vehicle. Cloning a car is when a car-thief steals the license plate and registration labels from a legitimate vehicle and then puts the same on a stolen vehicle with a similar model and model. The criminal may also make use of fake documents to sell you a car that is hot. Be careful when purchasing from a private seller or a dealership. If something seems off, look elsewhere. There are plenty of used vehicles available for sale. 6 steps to check whether the car you’re purchasing is stolen To avoid the hassle of buying a cloned car, adhere to these steps. 1. Check the VIN thoroughly. You can verify the with government agencies and the department of motor vehicles. You can also look up the vehicle’s VIN via the National Insurance Crime Bureau’s VIN Check, recommends Renee Valdes, senior advice editor at Kelley Blue Book. This service is free and will inform you of any insurance records of a stolen vehicle, which includes one that is not yet recovered. “Some vehicles put the VIN inside the front driver entrance or the glass, and some owners can have the VIN printed on the windows or even inside the engine,” states Valdes. “Carmakers are trying to make it more difficult for thieves to steal VINs or create counterfeit ones.” It is possible that the VIN may also be stamped into the vehicle’s dashboard. Be cautious, especially when it comes to numbers and letters that appear similar. Because the VIN should be in multiple places, examine each to ensure that they are in line. If they don’t, they may have been tampered with. 2. Buy a car history report Get a history report for your car by using the VIN as suggested by Valdes. Businesses that provide car history reports include . “These reports aren’t too expensive, and they’re worth it,” says Valdes. Vehicle history reports include information such as Service history, Title information Liens held on the car Accident history and damage Previous owners But even though the report will include the names of the previous owners, it will not list the names of the owners. “If your history goes complete to date it’s likely that it’s in good hands and not taken away,” says Valdes. If there are holes in the history or it’s not up to date, that could be a sign that the car is stolen. 3. Conduct a title search can look up a car’s title through the . If the person trying to sell you the car doesn’t match the name as the owner on the title then you’ll know that it’s a stolen vehicle. Having access to the title of the vehicle can help identify any contradictions between what the seller is telling you versus what’s on the title. For instance, if the car is one and what the mileage was at the time it was sold last. 4. Ask the seller for the vehicle’s service records If the seller can show you maintenance receipts, there is a better chance it is not a stolen vehicle according to Valdes. Check to see whether the VIN, make and model on the receipts match the car. Review the maintenance logs with the vehicle history report and determine if they’re in alignment. “A vehicle is usually the second biggest purchase for consumers,” says Valdes. “I always treated my car as if I would be selling it one day that’s why I took good care of the car and having regular oil changes.” In addition, inquire whether you can get the previous bill of sale the time that the seller purchased the car. It’s not a bad idea to ask the seller’s contact information and how much they originally bought the car for. A trustworthy seller will be able to provide you with this information. 5. Ask your auto insurance company to inspect your car. Check with your insurance provider if it is willing to examine cars for safety, and any signs of fraud. You should still do the necessary due diligence, but your insurance company might be able to find additional information to confirm that your vehicle is safe and legal board. In addition, some states and insurance companies could require an inspection of your car when you . This typically happens before the insurance company is able to approve your insurance policy for autos. In most cases, it’s only needed if you’re purchasing certain types of coverage, such as . 6. Be sure to trust your gut. If the price is too good to be true, or the seller is incredibly keen to sell you the vehicle and is encouraging you to take a break , trust your instincts. Between other sellers as well as used vehicle dealerships there are plenty of legitimate options out there. You may notice differences between what the seller informs you about the vehicle and what you learn in your investigation. That’s not always a warning sign. Not every car owner keeps detailed records. If the car has been purchased and sold several times, there could be some missing information. But if you spot discrepancies without a reason take a step back. What should you do if the vehicle you’re purchasing is stolen? If you learn if the car you’re buying is missing, you must file an investigation with the police. Give your sales receipt along with any other pertinent documents and details. Unfortunately, if the car you bought was stolen, or is or is a “cloned vehicle,” it was never actually yours. This means you are not the legal owner of the vehicle and the vehicle is taken away and given to the correct owner. If a theft claim has been made an insurance firm, then the car is returned to the insurance company. The loss will be the same. If you haven’t purchased the vehicle yet, simply walk away without looking back, suggests Valdes. When you’re sure to do so, file an official police report. The key point is that as thieves become more sophisticated and more sophisticated, be aware of potential dangers and research the car thoroughly, advises Valdes. This could include doing a search of the VIN, ordering a vehicle history report, and requesting additional documents and information to help you spot any signs of theft. “Don’t let yourself be swayed from taking every precaution, especially in this white-hot used automobile market,” says Valdes.
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Written by 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 finances. She is also a full-time worker at her local library which she assists her local community to access information about financial literacy, in addition to other subjects.
Edited by Helen Wilbers Edited by
Helen Wilbers has been editing for Bankrate from late 2022. He values transparent reporting that allows readers to successfully find deals and make the most appropriate choices regarding their finances. He specializes in small business and auto loans.
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