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Vehicle Identification Number
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When purchasing a vehicle, it is important to run a VIN check to ensure there are no outstanding financial issues that could affect ownership or value. This can be done through services such as Carfax or AutoCheck, which provide comprehensive vehicle history reports based on the VIN. Lenders and financial institutions may use the VIN to verify the identity and history, and helps them assess the value and condition of the vehicle as collateral for the loan.
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