Arkansas Department of Finance and Administration

05/30/2024 | Press release | Distributed by Public on 05/30/2024 06:26

DFA warns Arkansans of stolen vehicles being sold online

  • Posted Date: 05/30/2024
  • Office: All DFA
  • News:

FOR IMMEDIATE RELEASE:
May 29, 2024

FOR MORE INFORMATION:
Scott Hardin, DFA
501-352-9351, [email protected]

DFA warns Arkansans of stolen vehicles being sold online

The Arkansas Department of Finance and Administration (DFA) is warning Arkansans of a growing scam. Stolen vehicles are being sold online (Facebook marketplace, Craigslist, etc) for cash, for significantly below the actual value. In this scam, the criminal finds a similar vehicle online (make, model and similar mileage) and replaces the stolen vehicle's actual VIN number with the number found online.

A fake VIN sticker (containing the stolen VIN) replaces the legitimate VIN. Through this, those interested in the vehicle find what they believe is the vehicle's legitimate history, with no indication it is stolen.

When those purchasing the vehicles eventually learn they are stolen, they unfortunately lose the full amount of the transaction as the vehicle is turned over to the actual owner or their insurance company.

If a vehicle is being sold through one of these websites for cash only at a price significantly lower than its value, this is the largest warning sign. Most recently, the stolen vehicles are newer model pickup trucks that are being sold for tens of thousands of dollars below retail value. If it sounds too good to be true, it likely is.

DFA encourages Arkansans to use caution when searching these sites for vehicles.

###