If ever there was a case for moving from paper vehicle titles to an electronic system, advocates might point to a recent occurrence in Michigan.
According to the Combined Auto Theft Unit in Grand Rapids, Mich., three area men were arrested in late March for allegedly erasing lien holder information on titles in order to take out multiples loans on the same vehicle.
Local media outlets reported the suspects sought loans for vehicles that were no more than $2,500. However, loans were obtained for up to six times the value of the autos. In some cases, the loans were secured for nearly $14,000, according to police officials.
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