Why It Is Important to Check a Used Car’s Verification Identification Number (VIN) Before Purchase
The world is going through a massive transformation in various technologies, making it necessary to create an impact where it matters the most. These changes are taking place at such a rapid pace that people cannot simply keep up with them and adapt accordingly, resulting in chaos due to a lack of awareness.
The same applies when buying used cars, as one needs to be very cautious because there is a chance that you might end up spending your hard-earned money on something not worth buying. This might happen if you don’t check for a Verification Identification Number (VIN) before purchase. So, what does this number signify, and why is it important to check a used car’s verification identification number (VIN) before purchase?
What is a Verification Identification Number (VIN)?
A VIN is a 17-character, a unique identifier used to identify your car, and it can be found in several locations depending on the year of production. This number will help you with online registration forms when buying auto insurance. It may also be required when filing an accident claim or making any other changes associated with your vehicles, such as leasing or financing options.
Why Should You Check Used Car’s Verification Identification Number (VIN) Before Purchase?
Now that you know where exactly this unique code lies, here’s why checking for it before purchasing a used car is essential:
Fraudulent Dealerships & Scammers
There have been many cases reported about how dealerships or scammers try to deceive people into buying used cars without verifying their authenticity. VIN becomes invaluable because it helps weed out unscrupulous dealerships selling used vehicles, ensuring that you buy a reliable vehicle.
So, before making any purchase, ensure that the dealership or dealer has valid documents for all their vehicles and check if they have provided the correct VIN number of each car listed on their website. If not, then do not proceed with your transaction. There is a high chance that this might be an illegal business running only to make money without any concern about customer safety.
Also Read: How You Can Refinance Your Car Loan?
As mentioned earlier, VIN is a unique string of 17 characters that help identify a vehicle. However, how can you be sure that the dealership or dealer providing this number to you is sharing accurate information? There have been many cases where dealerships provide forged documents and alter a car’s history by changing its registration details.
This happens for two main reasons:
- To sell used cars at higher prices than market value
- To pass off stolen vehicles as genuine ones and then sell them
This way, they try to cheat customers out of their hard-earned money because they didn’t verify each document before purchase. So make it a priority for all your future transactions with any dealership or dealer to check VINs and then check their authenticity using different sources like Quick VIN Verification.
As far as technicalities are concerned, you can easily cross-check VIN using the sources mentioned above to know if it is genuine or not. But, what happens when there’s a mismatch between your purchase and its history? Well, in such cases, one needs to take up these queries with the dealership/dealer first before making any payment because:
If they provide incorrect information, then the likelihood of fraud becomes high. If they have provided false documents but no match has been found for this particular vehicle at other places, funds cannot be transferred from the escrow account.
That means that either dealer should refund the money paid by you, which was earlier meant for vehicle purchase, through their bank account or ask you to pay the next installment amount transferred to your bank account.
Once you are sure of every technicality, it becomes easier for both parties involved to go ahead with the transaction and complete it smoothly.
One needs to check the Verification Identification Number and other documents before buying a used car. However, what happens if the dealership or dealer provides correct information but vehicle history is not available online?
Well, that requires your extra effort because instead of asking for a refund from the person/company whom you are transacting with, directly ask them to show proof using different sources like the vehicle manufacturer’s website.
If they provide authentic proof, then you can go ahead with the purchase; else, ask for money back and search for further options. Performing due diligence is the only way to ensure you don’t lose your money to a con.
Verification Identification Number (VIN) is a unique identifier for any vehicle, and it becomes more important to check its authenticity if you are buying a used car from someone. Different sources can help provide accurate information on different aspects of the vehicle, such as registration details, accidents reported in the past, and more.