Is This a Case of Salvage Title Fraud?
Came across an interesting question from a reader at AutoShopy.com (the sites I visit in pursuit of used car news!). Basically, the person had purchased a used car in August 2008, couldn't afford the payments, and tried to sell it to CarMax. CarMax checked the VIN and determined the car had a salvage title, which was news to the guy trying to sell it.
CarMax relies on AutoCheck.com for its verifications. So the buyer called AutoCheck.com and was told that the dealership bought the car from an auto auction, and the auto auction "announced" it as a salvaged title to the dealership; but neither the auto auction or the dealership reported the title to the DMV.
The reader ended his comments by saying, "So I don't know what to do...and I don't want to pay $15000 for a car that is only worth $2000. Am I entirely screwed? Does this happen a lot? Please, someone give me some advice!"
I'd like to hear from some of you. What do you think of this story? What should the buyer do? What should the buyer have done before buying the car? I'll share my thoughts after I hear from you.
The buyer should have checked the vin # on carmax. But the dealer was told that it had a salvage title so it was his responsibility to make sure that the title reflected that and that the buyer was told that it had a salvage title. before he bought the car. The buyer should take carback to the seller along with a copy of the carmax and ask for his money back, If he don’t want to cooperate tell him you are going to report it to the DMV.
Before purchased a car buyer has to check vehicle identification number (VIN), and auction announced that it is a salvaged title. The whole responsibility is by the dealer itself. Of course the buyer also has to check it once before going to payments..I believe that it is salvage title fraud.