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Car Kiting: Dealers Selling Vehicles that They Don’t Actually Own. Most people have heard of the term check kiting, but few are aware that the same type of fraudulent scheme can be and is regularly used by car dealers across the country. Car kiting involves selling a vehicle that has been traded in before first paying off any outstanding liens.
A title is the legal document issued by a state department of motor vehicles that describes a vehicle by make and VIN and lists the vehicles legal owners. When that document is altered in a way misrep
Tagged as Auto Loans, check kiting, Dealer News, dealerships, fraud, loan fraud, scams, Used Cars 39 Comments Receive updates on the best of TheTruthAboutCars.com
May 07, 2019 · Kiting is the fraudulent use of a financial instrument such as a check to obtain additional credit that is not authorized. There are two variants of kiting:
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Credit card kiting refers to the use of one or more credit cards to obtain cash and purchasing power they do not have, or pay credit card balances with the proceeds of other cards. Unlike check kiting, which is illegal under nearly all circumstances, laws against credit card kiting are not completely prohibitive of the practice, thereby allowing it to be done to some degree.
Check kiting or cheque kiting is a form of check fraud, involving taking advantage of the float to make use of non-existent funds in a checking or other bank account.In this way, instead of being used as a negotiable instrument, checks are misused as a form of unauthorized credit.. Kiting is commonly defined as intentionally writing a check for a value greater than the account balance from an ...
Top 10 Car Scams While Buying or Selling When you buy a new or a used car, you must be wary of car buying scams. Whether you are purchasing through a dealer or a private owner, car selling scams can cost you hundreds, even thousands, of extra dollars.
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