It's a new way scammers take money in an elaborate auto scam. It is happening nationwide, and victims don't often realize it's happening until it's too late. It all involves your vehicle's VIN number.
Either way.. these fraudulent loans are not the vehicle owners responsibility and they easily proved it. Loan Co needs to drop this one, erase that VIN from the loan record and pursue the correct thiefs themselves.
It disgusts me that people can do this just by looking at the VIN, something always easy to see through the windshield. My dad just found out yesterday this happened with his Kia. The fact that Google searches returned results from credit unions rubbing their nipples saying "unfortunately, it is a crime the victim usually end up paying for" makes me want to defecate on a bank teller.
My bank and every bank I've ever been with require a bank employee to inspect the vehicle before the loan is finalized. How was the scammer able to get a loan simply with documents and no physical inspection?
@@Sam-pi6ch in my state, i can cover it while it is parked in my driveway. if i'm not around and an officer NEEDS to see it, they r authorized to break in : 0
This is a no brainer. Employee works inside the financial company is part of the scam by approving a loan without seeing the truck. New scam comes directly from inside the company which wrote the loan to someone just base on VIN, not the vehicle.
@@bradvance1846 not necessarily . The loan is taken out against a cloned vehicle. Or you end up buying a cloned vehicle. Or you buy a vehicle and failed to check outstanding loans against it.
Okay this sounds like a "bank" problem. Not the one they're making the victim. He didn't take out the loan so the loan company by default should be the one to suffer. Not him.
@@BuildTheFutureYouWant The bank did not do their due diligence and they are the physical property in the transaction. Let's say someone uses your ID to get a loan for $10,000 and they don't pay a dime back. Let's also assert the state issued the ID. Now this person ditches the ID and keeps the money and never pays a dime back. Now the bank comes and sues you. Are you liable for the money the bank gave to the person with your ID? No difference. *Yes, this has happened several times*
be careful about your car keys too, because they use these small devices ( Amazon sells them) to copy your car key outside your home or in a parking lot and access your car and remove things without you knowing it. Sometimes vandalizing it.
u sure? because copying car keys is expensive. whats the name of the machine? I think i was quoted like $300-400 to get my key copied by a Sams Club locksmith vendor
Dup titles are subject to the rights of the original title which they have in hand. Dup titles usually have this printed on them across the front by the issuing state.
Isn't "vin cloning" when someone "crooks" steals your high value car/truck, then buys an identical vehicle that has been wrecked/totaled from a wrecking yard and puts the wrecked vin plate on the new undamaged stolen car? (Edit): I live in Ca. In 2020, I bought a 2012 Toyota Camry from Anderson Toyota in Az. (out of state purchase). In orderr to transfer title from Ariizona to California, the Ca. DMV requires a "Vin Verification". I had to call the Calif. CHP, make an appointment and have the vehicle inspected. Here is my main point: The officer called my name, asked for the car's paperwork then proceeded outside to begin the inspection. I started to follow him outside to the car. He stopped in his tracks, turned around and informed me in no uncertain terms: "You can not go outside with me, You must wait in the office until I have completed the inspection". This made it clear to me that law enforcemnet DOES NOT want the public to know WHAT they are looking for or WHERE they are looking for it.
@@michaellewis9275 A while back, I watched a video about a guy who bought a classic project car. It had no plates/tags, no vin number and no engine. I think it was a '55 Chevy Bel-Air (maybe). Somewhere on the firewall, in the area of the brake booster, there was sheet metal that was doubled up. He drilled out some spot welds and peeled back the top layer of sheet metal to expose the bottom layer which had the hidden vin number. I tried searching youtube for the video but could not find it. To paraphrase the video title: "How to obtain a title from the DMV for a classic car without plates, engine or vin number". Maybe he took the video down. Cheers.
I live in Arizona, they have private business’s that perform registrations for vehicles. It’s an absolute joke in the State of Arizona vehicle registration.
You buy a stolen car and you buy a same exact model car but totaled or junked so it’s cheaper then you use that vin number of the totaled car and put it on the stolen car vin and boom you got a legal running car
This wouldn't be an issue if the loan place just inspected the vehicle before issuing the loan. Being able to put the vin online is no different than someone coming just to look at the vehicle.
VIN numbers are everywhere and public. How do you stop the fraudulent loans. I can walk in a parking lot and get your VIN. How do they get your Socal Security number from your VIN anyways?
Thieves also use this tactic to get the title in the thieves name, then they come back and steal the vehicle and sell it. I know this because someone did it to me. I'm lucky I got my car back.
Sounds like a state issue anytime you speak of registration or "title" this is all law/state based property therefore the state should spend money first to prevent from happening and two responsible if this should happen to any US citizens by law to protect your privacy and private property I after all they're the ones who say need a title" lol sheesh we getting stupid again people!?
vin no. is visable on the chassis from the outside amd also in windscreens. wuat a stupid system for getting loans in the usa lol 😂your social security should never be linked to a vin no. sound more like a massive date breach of gdpr 😢😮
