A Vehicle title search is a crucial step for anyone looking to buy or sell a vehicle in the state of Indiana. According to 13WMAZ, in 2024 Indiana has experienced a rise in vehicle related theft, fraud and property crimes. In fact, according to the Metropolitan Police Department there has been a massive 38% increase in the number of stolen cars this year compared to last year.
Most common types of vehicle related fraud:
- Odometer fraud. Odometer fraud occurs when the seller of the vehicle tampers with the odometer in order to reduce the mileage of the vehicle making the vehicle appear less used and increasing its potential resale value. Unfortunately, this scam is quite common, but it is usually easy to spot by running a vehicle history report. The mileage is recorded and reported to official sources throughout the vehicle's life, making discrepancies noticeable.
- Misrepresentation of ownership This situation often occurs when a seller attempts to sell a stolen vehicle while claiming ownership. Typically, they will not provide a title and will instead push for the buyer to accept a bill of sale, which is often fraudulent and lacks the seller's real information. Without the title, it is challenging to verify the vehicle's legal status. However, conducting a title search can reveal crucial details and help prevent the buyer from unknowingly purchasing stolen property.
- Undisclosed Lien/s A lien is a legal claim against the vehicle typically placed by a creditor that provided financing for the vehicle or a mechanic who performed services that went unpaid resulting in the mechanic placing a mechanics lien on the vehicle to recover the financial loss. By running a vehicle history report the buyer may be able to avoid buying a vehicle with undisclosed outstanding liens.
- Bad History Vehicles that were involved in accidents and suffered severe damage causing the insurance to write off the vehicle as a total loss and later repaired and made roadworthy again are typically considered undesirable and tend to have a lower resale value. It's wise to request the title to confirm that it is clear of any salvage history. Remember, the seller may not be inclined to reveal a vehicle's history of accidents. However, by obtaining a vehicle title records, you can access detailed information about the vehicle's past.
A title search protects buyers from being misled by dishonest sellers who might attempt to hide critical information about the vehicle.
