CENTREVILLE, Va., Aug. 26, 2014 /PRNewswire/ -- A dangerous
scam that hides major problems with used cars from consumers is on
the rise. According to new research from Carfax, nearly 800,000
used cars lurking on America's roads right now may be part of an
emerging fraud called title washing. What's also alarming is that
more than 500 are likely being used as taxis. Consumers in
New Jersey, North Carolina, Mississippi, California and Georgia are most at risk, but thousands of
title washed cars are in every state.
Title washing makes rebuilt wrecks and cars with odometer issues
look like problem-free used cars on paper. Professional con men
illegally alter vehicle documents to get title brands such as
'salvage' or 'flood' removed from a car's title. They'll often
patch up the wrecked cars, move them to other states and sell them
with a clear title to unsuspecting buyers. Victims can lose
thousands and put their lives at risk purchasing used cars with
washed titles.
"Our research is clear evidence that title washing continues to
fly under the consumer's radar," said Larry
Gamache, communications director at Carfax. "These cars are
sold mainly by perfect strangers who bank on you not taking the
proper steps to protect yourself. Demand more information than just
the car's title from any seller and shop at places where vehicle
history information is readily available, like the all-new
Carfax.com. Knowing what you buy and who you buy from are equally
important to help avoid dangerous schemes like title washing."
Every Motor Vehicle Department in the U.S. and Canada reports branded titles to Carfax. With
this information, consumers get unprecedented protection from
Carfax to help identify and avoid hidden problems. Car buyers and
sellers can rest assured they'll know about reported title brands
under the exclusive Carfax Buyback Guarantee. Plus, Carfax Vehicle
History Reports alert people to cases of potential title washing.
An inspection by a certified, trusted mechanic is also recommended
before buying any used car.
Titling laws can differ from state to state. To help, Carfax
offers consumers a Used Car Buying Guide with free information
about car titling and used car scams, as well as tips to help
purchase safe reliable used cars.
Editor's note: A used car expert from Carfax is
available anytime for interview via satellite, phone, Skype or
in-person. Please contact Christopher
Basso at 703-304-7727 to schedule.
About Carfax (www.carfax.com)
Carfax, a unit of IHS Inc. (NYSE: IHS), is the vehicle history
expert for used car buyers, sellers and the automotive industry.
Carfax created the Vehicle History Report in 1986 and continues to
develop innovative services – like Carfax Used Car Listings and
myCarfax – that make it easier to buy, sell and own a used car. The
company maintains a database comprising over 13 billion vehicle
history records from more than 86,000 sources worldwide. Get a free
Carfax® Vehicle History Report from dealers with every used car for
sale on Carfax.com or look for Carfax Advantage™ dealers in your
area and say 'Show Me the Carfax™'. Based in Englewood, Colorado, USA, IHS is the leading
global source of information, insight and analytics in the
automotive industry and other critical areas that shape today's
business landscape.
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SOURCE Carfax