Monday, 27 July 2015

Understanding VIN Reports, Terms And Their Meaning


What Is A VIN ?

VIN simply means Vehicle Identification Number. Each car or truck manufactured after 1980 has been stamped by the manufacturer with a unique VIN. The VIN is unique to the vehicle the way your fingerprint is unique to you, and the VIN, you can check the vehicle history and full report.

Locating the VIN
The VIN is located in a number of places on a car, but most commonly on the dashboard (you can see it through the windshield) and the driver's side door jamb sticker. On some vehicles the VIN is also placed on the engine, hood, and other parts.

The VIN may also appear on car titles, insurance policies, service records and police reports for the vehicle.

Why Is A VIN Report Important ?
it is Important to Check a Vehicles History Before Purchase these days, Most times Most of Us Don't Understand the Meaning of the Terms used in these Reports, We Shall Chronicle the Detailed meanings of each term used in VIN Reports So we can Understand them better.

Every VIN Report contains important information that can impact your decision about a used vehicle.

There are many things a seller may not disclose to you, such as a salvage title, junk title or flood damage. Any of these and other issues can affect the safety, performance and even value of a used car.

To make it more difficult for you to learn a vehicle's history, crooked sellers may list the wrong VIN in an online vehicle posting or may not be willing to provide the VIN at all. Scam artists may also alter the vehicle's title documents to hide potential problems.

VIN Reports Term & Meaning

 JUNK TITLE
The Vehicle is Incapable of Safe Operation for use on roads or highways and has no resale value except as a source of parts or scrap, or the vehicle's owner has irreversable designated the Vehicle as a soirce of parts or scrap.

This vehicle shall NEVER be Registered.

Also known as Non-repairable, scrapped, or Destroyed.

SALVAGED - DAMAGE OR NOT SPECIFIED
Any Vehicle which has been wrecked, destroyed or damaged, to the extent that the total estimated or actual cost of parts and labor to rebuild or reconstruct the vehicle to its pre-accident condition and for legal operation on roads or highway exceeds a defined percentage of the retail value of the vehicle.

Salvage-Damage or Not Specified also includes any Vehicle to which an insurance company acquires ownership pursuant to a damage settlement, or any vehicle that the vehicle owner may wish to designate as a salvage vehicle by obtaining a salvage title, without regard to extent of the vehicle's damage or repairs, or any vehicle for which the jurisdiction cannot distinguish the reason the Vehicle was designated Salvage

COLLISION
Vehicle Damaged by Collision

REBUILT
The Vehicle previously branded "salvage" has passed anti-theft and safety Inspections to ensure the Vehicle was rebuilt to required standards.

FLOOD DAMAGE
Vehicle Damaged by freshwater flood ( or it is unknown whether the damage was caused by freshwater or Salt Water).

LIEN REPORTED
Vehicle has a reported lien or outstanding loan through a lender or lenders

RECOVERED THEFT
Vehicle is reported to have been previously stolen in eiher the US, Canada or Mexico and later recovered.

ACTUAL THEFT
Vehicle is reported to be an active theft in either the US, Canada, or Mexico.

TOTAL LOSS
Vehicle has been reported to be a Total Loss vehicle by an Insurance Company.

CRUSHED
The Frame or Chassis of the Vehicle has been crushed or otherwise destroyed so that it is physically Impossible to USE it in Constructing a vehicle.

TOTALED
A Vehicle that is declared a total loss by a jurisdiction or an insurer that is obligated to cover the loss or that the Insurer takes possession of or title to.

REPOSSESSED
 This indicates that the 'owner' is no longer able to make the agreed to pay in installment for the car causing the bank or lender to repossess it.

VEHICLE CONTAINS RE ISSUED VIN
The Chassis VIN has been re issued, i.e The same VIN is re used.

DISMANTLED
The Vehicle can only be sold as parts and can not be legally driven.

FIRE DAMAGE
Vehicle Damaged by Fire

HAIL DAMAGE
Vehicle Damaged by Hail.

TEST VEHICLE
The Vehicle is built and retained by the manufacturer for testing.

REFURBISHED
Any vehicle Modified by the Installation of a new cab and chassis for the existing coach which has been renovated, resulting in a vehicle of greater value or a vehicle with a new style.

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