At some point in time, most of us will own a used vehicle. But buying a used vehicle can come with anxiety and worry because you don’t know the history of the car. There are companies that can provide a report on almost every incident involving a car so you have the peace of mind you need to make an informed decision
By using the Vehicle Identification Number (VIN), you can find out a lot of important details about the car like the following things:
If the vehicle has been involved in any accidents, the VIN will be noted in the accident report or insurance claim. You’ll be able to find out what kind of damage the vehicle had and what the repair cost estimate was so you can decide if you want to continue with the purchase.
2. Police incidents.
If the vehicle has been stolen, abandoned or reported missing, there will be a police record. By using the Vehicle Identification Number, you can find out the circumstances of these types of issues.
3. Insurance and registration
The VIN lookup will allow you to see if the vehicle has been insured, properly registered, and where. You’ll know how many insurance claims have been filed on the vehicle, along with the amount of each claim. If there are lapses in insurance coverage, you may want to question why that is before making your final decision.
4. Recall notices.
If the manufacturer has issued any recall notices on the vehicle for mechanical defects, you’ll be able to see what the recall was for and determine if it was a minor issue or a major problem.
5. Odometer readings.
With each accident, incident, insurance claim or repair estimate relating to an insurance claim, the odometer reading is included. This may allow the buyer to know if the current odometer reading is likely accurate, or if it may have been tampered with.
If any liens have been filed against the car, money is owed against it. Often the person now trying to sell the vehicle owes money to the original dealership or finance company and has become delinquent to the point that a lien has been registered on title. If a lien remains on title to the car, then the seller can’t transfer it to you without satisfying the lien. In the unlikely event this happens, you may lose the vehicle to the lien holder as payment to satisfy the lien.
Vehicle Identification Numbers allow you to find an almost complete history of a vehicle from its initial registration, to the current date. If a VIN has been removed, or isn’t legible when you’re considering buying a used vehicle, think carefully and think twice before handing over your hard earned money. Without a VIN, you can’t properly register and insure the car and once you’ve turned over payment, you’ll have very little recourse to get it back.