The Risks of Buying a Stolen Car
Imagine purchasing your dream car, only to lose it a year later when the police inform you it was stolen. This scenario is more common than expected, as highlighted by Ed Bolian, former Lamborghini sales director and founder of VINWiki.
Vehicle thefts are rising, with over 1 million reported in 2023. While laws protect car buyers, they have limits. If you unknowingly buy a stolen car, you’re required to return it without compensation. Recovering your money is unlikely, as sellers often vanish or knowingly commit fraud.
High-performance cars like Dodge Hellcats are frequent targets due to vulnerabilities such as cloneable keys. Tools for bypassing car security are readily available online. Stolen cars are often sold at a fraction of their value, leaving unsuspecting buyers to deal with the consequences. Social media marketplaces exacerbate the problem, with scammers selling cars without titles or offering cloned keys and VINs.
To avoid buying a stolen car, Bolian advises:
- Research the car’s history: Use services like Carfax to verify the VIN and ownership records.
- Be skeptical of cheap deals: Luxury cars sold below market value are red flags.
- Demand proper documentation: A legitimate title is essential.
- Trust your instincts: Walk away if something feels off.
Buying a stolen car can lead to legal and financial troubles. It’s better to pay more for a secure purchase than risk losing your investment for a deal that seems too good to be true.
Motor Biscuit
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