Buying any large-dollar item always seems to come with risk, especially if you are purchasing an automobile. There is always a lot of money involved when buying any automobile, and the car buyer usually knows very little about the seller. One of the many hazards is purchasing a stolen car, which brings with it plenty of legal and financial woes that do not go away quickly.

What Happens if You Buy a Stolen Car Unknowingly

It is usually easy to spot a stolen car, even if you know little about vehicles in general. However, always do your due diligence when buying a used vehicle because, thanks to technology, it is extremely easy to replicate a car’s title and registration documents.

The “I had no idea” defense is weak when you have taken possession of stolen property. In most states, buying, receiving, and possessing stolen property is categorized as “receiving stolen property or goods.” You will need to prove in court you had no knowledge the automobile was stolen.

Unfortunately, taking possession of stolen property means you were never the car’s legal owner. When authorities confiscate the vehicle, it will be returned to the rightful owner. If a claim has been issued, the vehicle may be returned to the insurance company.

No matter the circumstance, if the authorities confiscate the automobile, the buyer will lose all the money spent. Recovering the funds will be next to impossible. You must find, sue, and win a judgment against the person who sold you the car. You may spend thousands suing someone who cannot pay.

Steps To Take Immediately

Once you discover the car of your dreams has been stolen, you must take specific steps immediately, or the authorities may feel you have been complicit in the transaction. A VIN check will uncover the vehicle’s status. If stolen, a quality service such as GoodCar will highlight the condition immediately. Additionally, checking public records in New Jersey can provide further insights into the vehicle’s history.

Always use quality services and databases such as GoodCar, the NMVTIS (National Motor Vehicle Title Information System, and the National Insurance Crime Bureau.

Contact the Authorities

Notify the authorities immediately once you discover the vehicle has been stolen. Unfortunately, the vehicle may be impounded immediately, or you will need to take the car to the authorities. Gather any and all documentation you have on the transaction, such as the title, bill of sale, registration papers, loan documents, and so on.

If the car has been insured, notify them immediately. If the vehicle has been registered, contact the DMV.

Legal and Financial Steps

It may be necessary to retain the services of a lawyer to represent you in any legal action taken against you or help recover money invested in the car. There are several circumstances where certified communication needs to be sent on your behalf to recover personal belongings or money invested.

Legal representation is necessary if the police do not believe your “I had no idea” explanation. You could be charged with receiving stolen property. If the car’s value is under $2000, the charge is a misdemeanor, punishable by a fine and maybe even jail time. Receiving stolen goods over $10,000 is considered a felony with a significant fine and jail time.

How to Prevent Buying a Stolen Car

Purchasing a used car with any reported damage, rebuilt titles, or a possible stolen vehicle should be a thing of the past. Technology has made it possible to access millions of data points through quality reporting services such as GoodCar and the NMVTIS.

Honest sellers have no problem with potential buyers checking VINs against national records to uncover fraudulent information. VIN check services provide detailed records on millions of vehicles worldwide.

• Choose a quality VIN reporting service such as GoodCar
• Access the service on your home computer or smartphone and input the VIN into the search box.
• The service will pull up hundreds of data points on a specific vehicle, including title status, odometer readings, and detailed owner records from the date it rolled off the showroom floor. Additional information includes maintenance records from mechanic shops to dealership service lanes. NHTSA safety recalls and ratings are given, along with wholesale and retail values of the car.

Purchase From Reputable Dealers

Buying a vehicle from a well-known and certified dealer is vital in this scam-crazed world. These dealerships do everything in their power to ensure the buyer feels confident about the purchase of their car. They welcome buyers who want to check their vehicles’ VINs.

Private sellers from the largest e-commerce stores always have the highest customer satisfaction ratings. These private sellers freely offer their vehicles’ VINs for review.

Technology has given the finest dealers and private sellers the advantage over scam artists and dirty sellers. Quality VIN check services highlight vehicles with consistent oil and maintenance changes, along with identifying the dealers and mechanics who performed these services.

Unwitting buyers who believe they can purchase a $20,000 vehicle for a cool $1,500 get exactly what they deserve.        

About Post Author

Marcus M.

http://www.bmwcoop.com

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