Re-vinning: The Silent Threat Lurking in Car Deals

In the face of a continuing auto theft crisis across Canada, safeguarding both personal safety and financial well-being has become a top priority for Canadians. In fact, 84% of Canadians are worried about the surge in auto theft and 69% have expressed concerns for personal safety and family well-being.
But beyond the immediate implications for victims and insurers, there’s a lesser-known threat lurking: re-vinning. Re-vinning involves altering a vehicle’s VIN (Vehicle Identification Number) to create a false identity. The altered vehicle is then sold to unsuspecting buyers.
In this article, we’ll uncover the world of re-vinning, explore warning signs for buyers, and equip you with important due diligence strategies to protect your clients. By raising awareness and taking proactive measures, we can help protect your clients from unknowingly purchasing stolen vehicles.
1. Understanding Re-Vinning:



Why Does It Happen? Most stolen vehicles in Ontario are exported out of Canada, however some are re-vinned for local resale.
Risk to Buyers: Purchasers may unwittingly acquire a stolen vehicle, leading to legal and insurance complications.



2. Red Flags for Buyers:



Too Good to Be True: Deals that seem exceptionally favorable might involve re-vinned vehicles. Sellers desperate to offload stolen cars accept lower-than-market prices.
Cash Transactions: Be cautious if cash payments are requested without proper documentation.
Anonymity: Sellers avoiding full disclosure of their identity or contact information should raise suspicion.
Unusual Meeting Locations: Meeting in unfamiliar places can be a sign of illicit dealings. Suggest safe locations like designated police buy-and-sell areas.



3. Due Diligence for Buyers:



CarFax Reports: Encourage clients to obtain a CarFax report or a Used Vehicle Information Package. These verify the vehicle’s history and ensure it aligns with the seller’s claims.



Remember, your guidance can prevent clients from unwittingly stepping into legal and financial pitfalls. By educating them about re-vinning and equipping them with practical tips, you contribute to their peace of mind and protect their interests.
Stay vigilant, and keep your clients informed!