vanson

I came across a car that has a vehicle stolen reported on the carfax and the car was recovered. Did talk to the owner and he stated that his house was burglarized and his 911 was stolen. He also states that he has the time he reported the missing car and 3 hours later the police found his car 3 blocks from his house. No abuse just missing car key

Is this an issue in the future?
Thanks

Seeeu911

No insurance claim ? Get a notarized letter from the owner or a copy of the police report. If I liked the car and the PPI did not show over rev high counts. Why not ?

Sarki

Here's my take.....
It's an issue in respect to the fact that the majority of those purchasing a used car rely on Carfax and many a car live or die by the history captured on a Carfax report. That history is not always accurate but the damage is done once it hits the Carfax report as many people stop after finding a "black mark" on the Carfax.
Personally I know better and only use the Carfax report as PART of my due diligence.
The other part of the equation is being able to verify the owner's story. Was the car damaged as a result of the alleged theft? Did his insurance company prepare an estimate for any theft related damages? Can or is the owner able to provide you with a copy of the police report pertaining to the theft so you can verify what he is claiming?
All questions I would want answered prior to moving forward. Keep in mind these same questions may come up again when and if you try to sell the car down the line.
Bottom line is that anything listed on a Carfax can be an obstacle when selling/buying a used car.

Vasir

+1

Cuda911

How in the world did that make it to CarFax, if the car was just stolen and driven for three blocks and recovered 3 hours later? Somthin's not right here.

pcst

+1

This goes way back 11 years ago, so not sure whether this is still the case or not.
One of my previous car had a front end collision, but the carfax report never showed a such incident.

I would consider the theft recovered vehicles as long as it didn't suffer through major damages, these vehicles typically suffer through broken glasses or ignition switch. Unless they were running away from cops in high speed and crash, which typically get totaled/salvaged title.

bretm

I think it depends on how long you plan to keep the car. If you tend to move on within a few years, you're going to have to explain to prospective buyers the story behind the blemish on the Carfax. On the other hand, if you tend to keep cars for long-terms (5 years or more), this should be less of an issue and this car might represent a good deal as you have a negotiation point for the purchase.

The farther you get away from the issue from a time perspective, the less people will be concerned with it.

scorchpa

Is the vehicle priced accordingly? I thought theft would only show up if the car was written off by the insurance company.

Regardless, I think any smudge on the vehicle history deserves a price reduction. Main argument is that if you have 2 identical cars, but one has the "theft" and the other doesn't, all other things being equal what would a car buyer choose?

pcst

It really comes down to the price tag.

There are few out there who bought a cheap branded/rebuilt title car and put effort in it to get it repaired to the highest standard, but it won't be easily recognized by the market. If my brother had a rebuilt/salvaged title car, I would definitely buy it from his hands, since I know the exact history of that vehicle.

In $10-20k dollar car market, few thousand dollar difference won't make me budge, unless close to $10k difference, I would just stick with the clean history car.
In $30-40k dollar car market, definitely more than $10k difference will only attract me. Otherwise, just stick with the clean title car.

That's just me...
$.02

Vasir

Same... But then again, I had an sl500 that while in my possession was totalled because of a bumper crack and a broken grille (no joke). Bought it back for $1k, but had the hardest time selling it as no one believed my story even though I had photos to prove it and extensive history.

With that said, just because a car is "stolen" is it totalled out, or is there a criteria that must be followed to proceed with the marking of the title with this scarlet letter? I could imagine how the insurance company wouldn't be so willing to go ahead and pay you out because it was gone for 3 hours and no damage has been done (if that's the story).

Cuda911

No car is "totaled" just because it has been stolen. And no insurance company is going to give you even one penny for a car missing for 3 hours, unless there was damage caused during the theft.

As stated above, something is very fishy about this story.

pcst

This is getting interesting, so you bought it back for $1k and what price tag are you trying to sell with?

Just asking since you've mentioned that you are having hard time selling it.

Vasir

Had.

Sold it for 4k

pcst

Man, that's a pure profit of $3k right there! I'm sure you also got the replacement value of the vehicle when they totaled it.

BTW, just found this, punch in the VIN# to confirm:
https://www.nicb.org/theft_and_fraud_awareness/vincheck

vanson

Called dmv and check out there is no salvage/rebuilt title. He still owns the car. This was a year ago. Apparently there were no claim on the insurance from the owner I assumed. The title department states that since no insurance company filed a stolen car thru them, the title remains unchanged.
So I proceed
Thanks