Police are warning people not to hand over the keys to the cars unless they receive cash or see a transfer clear into their bank.
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A car was stolen in Wodonga last week and was recovered in Bright on Wednesday night.
Police believe a conman had inspected the car in Wodonga, returned with a fake receipt showing a cash transfer, and took the vehicle.
The man is wanted by police.
Senior Sergeant Doug Incoll said police were aware of several offenders using false documents to secure vehicles.
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"People just need to be aware when they sell cars to be assured of the bona fides of the person buying that car," he said.
"They need to be totally satisfied that the money is actually in their account before handing over the vehicle to the person.
"They should also make sure all the VicRoads requirements have been met, because there are several offenders using false documents."
The stolen vehicle will be forensically examined.
Senior Sergeant Incoll said if sellers were suspicious about people, they could call police.
"If they clearly ring alarm bells, it's no problem for them to contact police for advice," he said.
"I wouldn't be giving anyone the keys to my car unless the cash was visible or the money was in my account."
Wodonga officers are also investigating a spate of thefts from cars.
Senior Sergeant Joel Hughes said nine vehicles were targeted from last Tuesday to this Wednesday.
Six had been unlocked and three cars had plates stolen.
"It's just a reminder from police for people to lock their vehicles," he said.
Tools have also been stolen from the back of utilities.
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