COLORADO SPRINGS — Investigators with Colorado State Patrol say they’re seeing an increase in vehicle fraud cases statewide and it’s something you should be on guard for if you’re in the market to buy a used car.
According to the experts, in all of these cases the seller is passing off a vehicle as something different than it actually is. These are some of the most expensive purchases consumers will make this year. So, if you’re in the market for a car you’ll want to know how to do two things. First, how to identify vehicle fraud. Also, to understand the value of the vehicle you're looking at and how to research it.
Investigators are concerned about people trying to find that next car because they’ve seen victims falling for vehicle fraud making expensive mistakes.
”They find out that vehicle is perhaps stolen, or it’s not what it appears to be. It’s completely bogus all around," warned Cale Gould with the Colorado Auto Theft Prevention Authority.
He says aside from phony listings in online marketplaces, there are several other ways fraudsters are getting over on car buyers.
”Essentially folks passing off a vehicle on a sale and that vehicle is not actually what it appears to be," said Gould. "Everything from odometer fraud to stolen vehicles that are title washed, that are VIN swapped, that are taken from other states and passed off in Colorado. They are sold to unassuming consumers that think they are getting the deal of a lifetime and it ends up being the heartbreak of a lifetime.”
Here are some red flags to watch for to identify one of these schemes…
- If the price seems too good to be true
- If the seller wants cash only and needs to sell fast
- If it’s an out of state vehicle from an online seller with newly created account
Unfortunately, Gould says he’s seen situations where people don’t heed these warnings and it’s devastating.
”The person who was scammed is out $5,000. There’s plenty of instances of $20,000 or $30,000 or $40,000 vehicles. they are out that cash and they are out that vehicle as well because it is seized for investigations,” said Gould.
Before you start shopping for that next car it’s important to know the value of what you’re looking for, that way you can identify price points and deals that are likely scams.
Here are some resources provided by CSP to help research the value of specific vehicles:
How to Verify a Vehicle’s Identity
All vehicles arriving from out of state must undergo a certified VIN inspection through the Colorado State Patrol before being registered. Most title frauds or attempted title washes are sold to unassuming buyers using an out-of-state title the buyer is not familiar with, and then the vehicle is discovered to be stolen or the title fraudulent during a VIN inspection.
- If a vehicle has an out-of-state title, have the seller complete a VIN inspection or Certification [2yd1749y.r.us-west-2.awstrack.me] before the sale.
- If you encounter a vehicle listed as certain trim types such as “King Ranch,” “WRX,” or “SVT,” but you aren’t familiar with the vehicle to discern the difference. Visit the NHTSA VIN decoder [2yd1749y.r.us-west-2.awstrack.me] to determine what year, make, and model the VIN shows. If the VIN decoder differs from the advertisement, this may be a big red flag that the vehicle isn’t what it appears to be.
Finally, once you are confident the vehicle and the seller are everything they seem to be, ensure you have all the right documents for the sale. All documents and templates are available via the Colorado Department of Revenue Website [2yd1749y.r.us-west-2.awstrack.me]
For a complete list of vehicle buying resources, visit lockdownyourcar.org/resources
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