The 2012 Cadillac Escalade Won’t Be So Easy To Steal

While the Cadillac Escalade has racked up plenty of awards (and legions of fans) since launch, one that doesn’t sit in the front of the trophy case is “Top Ten Most Stolen Vehicle.” The Escalade is a target for car thieves, thanks to its export value, its parts value and the truck’s bling factor. Cost saving measures from GM, like an easily-defeated plastic steering wheel lock, didn’t help matters any, either. Read more

NICB’s ‘Hot Wheels’ Lists The Most Stolen Cars In The U.S.

If I asked you to name the most stolen car in the U.S., what would you pick? The Cadillac Escalade? The BMW 3 Series? Maybe the Ford Mustang or the Chevy Camaro?

The correct answer is “E, none of the above.” According to the National Insurance Crime Bureau, the most stolen car in America last year wasn’t flashy and you won’t find it in poster form on anyone’s bedroom wall. If you’re lucky and have a very clean, low mileage example for sale, you might get $3,000 for it, and it certainly won’t stand out in a shopping mall parking lot. The car? A 1994 Honda Accord. Read more

$25 Million ‘Car Cloning’ ring broke up by FBI

 

You probably have heard the controversy over cloning living beings but probably not about car cloning.

The FBI will be announcing about 17 arrests in a huge ‘car cloning’ scam that reaches across the whole United States. It seems under these scams details such as the VIN number were taken from a legal vehicle and then given to another vehicle which was stolen. These vehicles are actually sold and many are financed by banks. Not only does the buyer get scammed but the bank as well.

The most unfortunate part of this scam is that many of the purchasers of these stolen vehicles are left with a car loan to still pay while their vehicle was taken by the authorities. So basically they have no car but a monthly car note that they are obligated to pay. It is not like they can have the vehicle repossessed. It does not even belong to them. A similar story was posted on CNN today.

The FBI warns consumers to be careful when purchasing a vehicle independently. In addition to the current economic conditions many of the victims of this scam really cannot afford for this to happen to them. Many may resort to selling off other assets and/or ultimately losing their job because they have no transportation after it is taken by the authorities. Rightly so, the vehicle is stolen property and does not belong to the bank or the consumer.

Chime in, what would you do in a situation like this if you found out that you purchased a “Hot” or “Cloned Car”?