Buyer beware when purchasing used vehicles Tips to avoid

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					               News Release
               FOR RELASE:     Immediately                         PAGE:    1 of 2
               CONTACT:        Name                                DATE:    March 23, 2006
                               Phone number                        REF#:    2006 - 15

                  Buyer beware when purchasing used vehicles
                           Tips to avoid buying a stolen vehicle

March is national fraud prevention month and ICBC is advising consumers to be aware when
purchasing used vehicles. By taking the proper precautions one can greatly reduce their chances
of purchasing a stolen or fraudulently altered vehicle.

“When buying a used car, a little research can go a long way. Arm yourself with knowledge
about the vehicle before you sign the dotted line and hand over your payment” said Mark
Francis, ICBC manager Regulated Vehicle Programs.

“If at any point along the process something causes you concern, your best option is to walk
away from the sale,” said Francis.

ICBC invests in more fraud prevention and investigation programs than most property and
casualty insurance companies in Canada. ICBC seeks to identify instances of fraud to deter
others, and actively pursues fraudulent claims through civil lawsuits and criminal prosecutions to
recover fraudulent payments.

But there are a number of precautions individuals can take to help protect themselves. The
following list of suggestions is intended to help better inform customers buying used vehicles:

Inspect the Vehicle Identification Number (VIN). Since 1981, the Vehicle Identification
Number is a combination of 17 numbers and letters used to uniquely identify a vehicle.

   •   Confirm the VIN on the dashboard matches the Vehicle Registration form.
   •   Check for signs of tampering with the VIN. Signs to look for include: loose or
       mismatched rivets, scratched numbers, tape, glue or paint over the VIN.
   •   Have a licensed mechanic check the VIN on the doorpost and engine firewall.

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               News Release                                                          PAGE: 2 of 2

                     Buyer beware when purchasing used vehicles

Insist on seeing the original Vehicle Registration form, not a photocopy. A recent change by
ICBC now requires the original computer generated registration form to transfer the ownership
of a vehicle.

   •   Check the licence plate on the vehicle matches the license plate listed on the Vehicle
       Registration form.
   •   Confirm the vehicle make, model, and colour match the description on the Vehicle
       Registration form.
   •   Ask the seller to provide photo identification. Make sure the name on the Vehicle
       Registration form is the same as the person selling the vehicle. Make note of the seller’s
       valid home address and contact information.

Inspect the vehicle’s odometer for signs of tampering. Odometer fraud is the illegal practice of
rolling back an odometer to display fewer kilometres than actually driven.

   •   Look for marks on the odometer, and make sure the numbers are properly aligned.
   •   Check to ensure the vehicle’s mileage is consistent with the condition of the vehicle. Pay
       careful attention to the following high wear points: the brake pedal, carpets, seats,
       steering wheel, and seat belts.
   •   Keep in mind a car travels an average of 25,000 km per year.

Uncover the vehicle’s claims history. Visit and perform either an ICBC Vehicle
Claims History report or the new more detailed CarProof VERIFIED BC report. Both reports
are specific to the vehicle; descriptions of the reports are available online.

Perform a lien search. A lien may have been placed on the vehicle by a person, a bank or other
entity as collateral for an unpaid debt. A lien is attached to the vehicle, not to the owner of the
vehicle. In the event the previous owner does not pay their debt, the car can be repossessed.

   •   A lien search can be performed at an ICBC Driver Service Centre, some Government
       Agents Offices, or at the Personal Property Registry located in Victoria, at a cost of $10.
   •   The CarProof VERIFIED BC report includes lien searches from across Canada.