Buying a pre-used vehicle might save you a good amount of money. On the other hand, you could also be cheated and end up wasting money instead of saving it. Wouldn't be great if there was a way to decrease the risk associated with buying a second-hand vehicle? Well, the truth is that such a solution does exist
What you are looking for is a VIN decoder. You may be asking yourself, VIN? What is a VIN? The Vehicle Identification Number, also known as VIN, is a unique 17-digit code assigned to vehicles at the production line. What does VIN number tell you, as well as where you can find VIN number are aspects regulated by national and international standards.
By using the VIN number you can obtain invaluable information gathered from several sources like manufacturer’s internal databases, law enforcement agencies, regional Department of Motor Vehicles (DMV), the National Motor Vehicle Title Information System (NMVTIS), insurance companies, business that service and/or repair vehicles, and more. The information that you may expect from these sources include but is not limited to:
Vehicle registration history, indicating the number of previous owners, sales conditions like financing terms, etc.
Vehicle title information, useful to know if the vehicle was involved in accidents or suffered serious damage from flood or hail that resulted in a salvaged title. Title information should also indicate if the vehicle was branded as a “lemon” due to substantial defects when manufactured. Vehicles branded as salvage, junk or flood are not necessarily a bad deal. Purchasing a damaged vehicle without knowing its real condition is one thing, but once you are aware of brand history you can negotiate a fair price.
Insurance information, that may give you insights about vehicle usage, a risk factor associated with the vehicle, expected the cost of the insurance, and more.
Odometer registries, usually vehicle historic records include odometer readings. This information comes handy to detect odometer frauds. Once again, legal aspects aside, you can negotiate a better price for the vehicle when you know its real odometer reading.
Accidents history, indicating if the vehicle suffered substantial structural or frame damage, deployed airbags, or has been declared as a total loss. Even accidents considered as “non-total-loss collisions” may have an impact on vehicle performance or bring hidden damages in the future. The most important aspect of knowing if the vehicle is considered a total loss or salvage is safety. You should avoid purchasing a potentially unsafe vehicle.
Service records, which are invaluable to determine if the vehicle was properly maintained and thus gives you a good idea of possible repairs in the foreseeable future. Depending on planned vehicle usage, service records may be a decisive purchasing factor. A vehicle intended for a mission-critical job should have perfect maintenance.
Thefts history, aside from the obvious, checking if the vehicle is clean, knowing if the vehicle was stolen (and recovered) may be crucial for negotiating a better price.
Manufacturer recalls this information combined with service records gives you a clear idea of potential security risks. Not every owner attend to vehicle recalls, meaning that you may be buying a “problem” without knowing it.
Please take into account that such detailed information will most likely require you to subscribe to a VIN Check Tool or pay for a Vehicle History Report (VHR) service. Costs aside, checking the VIN number is always a good idea, even if the car owner offers you a free vehicle history report.
In any the case, it’s strongly suggested that at the very least, you perform an independent verification process consisting of:
Checking the National Insurance Crime Bureau (NICB) website (nicb.org) to find out if the vehicle has been reported as stolen. As you may guess, buying a stolen vehicle is not a good deal. As a plus, you may also find if the vehicle has been reported as salvage by cooperating NICB member insurance companies. The NICB report is offered as a public service, free of charge.
Checking the National Motor Vehicle Title Information System (NMVTIS) This platform was designed to protect you, the consumer, from fraud and unsafe vehicles as well as keeping stolen vehicles from being resold. This paid report provides information about five key vehicle aspects: current state of title and last title date, brand history, odometer readings, total loss history, and salvage history.
The information obtained this way may not provide the same level of detail as professional VIN lookup services or private vehicle history reports. You won’t get vehicle repair history, recall information, insurance reports, or vehicle registration history (to name a few) but at least, you can rest assured that you are negotiating a “clean” vehicle that won’t become a legal nightmare in the future.
As you can see, the vehicle identification number (VIN) can be your greatest ally in preventing you from becoming a victim of fraud, illegal purchases, inaccurate information, unfair price, and most importantly saving you and your family from potential safety risks when buying a pre-used vehicle in bad condition.