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Buying a recovered stolen cars for sale at an online auto auction, can be a good investment. When a vehicle that is insured against theft is stolen and recovered, it is usually declared totaled, due to damage or other reasons. These cars often end up at auction sites. Insurance companies dispose of these vehicles at rock-bottom prices, and many of the vehicles are still in sound condition. Find out everything you’re eager to know about buying such a vehicle to get a head start.
Reasons Behind Theft Recovered Car Title
Any vehicle stolen but recovered later on by the police comes under the category of theft recovered vehicles. After a vehicle has been stolen and is missing for a period of time, the insurance company will pay off the insured amount on the vehicle. In case the vehicle is eventually found, it is within the insurance company’s discretion to sell off the vehicle at an auto auction after giving it a theft recovered title. Often, stolen cars are stripped for parts and sold in different states or countries. Some states issue a salvage title to such cars.
Stolen But Never Recovered
Even though buying a stolen car is a criminal offence, police seldom issue an arrest warrant if the buyer didn’t know that the car was stolen. If the seller was unable to furnish a registration document or V5C, the car was probably stolen and not recovered yet. Some auto thieves tamper with the V5C. So, check the watermarks, spelling mistakes, or any discrepancy in the vehicle details. You can run a VIN check on such vehicles in case you’re buying them outside of platforms like online auto auctions.
How to Proceed at Auto Auctions
If you’re buying a theft recovered car at an auction, have the vehicle inspected by a trained mechanic or a body shop to check whether there’s any serious damage. Most states disallow driving of salvage cars on the road, but buyers can obtain rebuilt title after a formal inspection by the Department of Motor Vehicles. Generally, you will need a VIN confirmation, registration form, photographs, and reports from an insurance company to change the title to a non-salvage status.
Many people steal cars with the intention of selling them at a profit. Buying stolen but recovered vehicles at an auto auction is not a problem. The problem lies in buying stolen but not recovered vehicles from private individuals. Do a proper online VIN check of any such pre-owned vehicle before closing the deal. If you’re not sure where to look for a used car to buy, theft recovered cars auctions online are one of the best places to try your luck. They sell such cars as salvaged vehicles at wallet-friendly prices. So, make sure you visit a leading online auto auction site whenever you’re buying a second-hand car.