(COLORADO) — Vehicle fraud is spiking across Colorado, prompting a warning for those who are thinking of purchasing a new car. Have you seen a car for sale that is in perfect condition, the price is well below comparable vehicles, and it seems too good to be true? Then it probably is.
Vehicle
fraud includes title fraud, odometer fraud, motor theft vehicle and more. The Colorado State Patrol is warning that when you find a car for sale that seems 'unbelievable,' you should look for the following indicators that the seller is attempting to defraud you and how to check if it's a scam:
The car is listed well below similar cars.
A private seller lists the vehicle, and the advertisement says 'Cash Only.' The account has been created recently and has very little content, and the advertisement makes some appeal to emotion. Some may claim to pay medical bills or hard times.
The car is listed on a popular website, such as Facebook Marketplace, eBay, Craigslist, or Offer-Up. If the account is nearly blank and has little to no history, this may be a good indication that this person is trying to leave as little trace as possible.
CSP says not all personal sales are bad, but be sure you know who you are dealing with.
Be wary of any vehicle where the car is titled out of state and the seller has not transferred the title to Colorado.
The car is being sold by a dealership that is not on the Colorado Department of Revenue's list of authorized dealers.
Individuals can always search for similar vehicles to determine fair market value. Sites like Kelly Blue Book and Edmunds can determine what the price range for a vehicle in the listed condition would be.
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 during a VIN inspection. All vehicles arriving from out of state must undergo a certified VIN inspection through the Colorado State Patrol before being registered.
If a vehicle has an out-of-state title, have the seller complete a VIN inspection or Certification before the sale.
If you encounter a vehicle listed as a certain trim type such as "King Ranch," "WRX", or "SVT" and aren't familiar with the car, visit the NHTSA VIN decoder to determine what year, make, and model the VIN shows.
Once you have ensured the seller is everything they seem to be and are confident of the vehicle, CSP says to double-check you have all the right documents for the sale. ...read more read less