If you’re thinking of selling your car yourself, pay special attention to
this section. According to a 1999 study conducted by the FBI, the most common
days for stolen cars were Friday and Saturday. (Interestingly, according to the
same study, the days that show the highest recovery rates are Monday and
Tuesday.)
While there may be other reasons, one of the biggest contributing factors is
people selling their cars. Imagine the following scenario. A potential buyer
approaches you on a Friday or Saturday and gives you a check for the car. You
happily hold onto the check, passing the keys and title over. Monday comes and
you go to the bank where you discover that the check is a fake. Not only are
you holding onto a worthless piece of paper, but the thief has gotten away with
stealing your car.
“Beware of the shiny Corvette selling for rock bottom price on the lawn of
someone you don’t know,” says Terri Miller, director of HEAT. “Auto thieves
take advantage of unsuspecting consumers in two ways: buying cars with bogus
checks or selling stolen cars with fake titles. Consumer should be aware that
not only are they vulnerable to losing their property or money, they can be
held liable for unwittingly participating in these activities.”
If you are selling or car, or if you’re considering buying a used car from
someone other than an authorized dealership, take a few precautions:
Be wary of incredible deals.
If a car is being offered well below it’s actual worth, there may be a
reason. Get the VIN and check it against stolen car reports as well as
vehicle history reports.
Beware of out-of-state
purchases. Always get the title and complete the sale during the hours of
the Secretary of State. The Secretary of State department can quickly
verify license and title information for accuracy.
Avoid selling your vehicle on
weekends. Just because the check says it is certified doesn’t mean that it
is valid. Wait for the banks to be open so that you can verify that the
check is authentic.
Always get accurate
identification information. Make sure that you have home and work phone
numbers as well as a real address. When possible, don’t accept cell phone
numbers. Ask for two forms of id.