Buying a used car may be a more cost-effective approach than buying new, but it’s important to be aware of potential risks. One of the biggest issues to watch out for is VIN fraud. VIN fraud is when someone illegally changes the Vehicle Identification Number (VIN) of a vehicle to hide a vehicle’s true history, often to sell stolen vehicles without detection.
Unfortunately, VIN fraud is a persistent problem in Canada. CARFAX Canada estimates that there are over 372,000 potentially cloned VINs in Canada. Many Canadians are concerned about vehicle fraud and theft, with 1 in 5 reporting that they or someone they know has been directly affected.