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CARFAX has become a consumer respected company. How many of you either run a CARFAX report or ask the dealer /seller to run one for you when you are considering the purchase of a used car or truck ?
It does carry a $5,000 warranty if something is wrong with the report etc so does that hold value for you as a buyer and does it help give you peace of mind when you are looking for a used truck or car ??
To make a well educated decision, you need to have as much information as possible. I would try and track down every previous owner, run a carfax, and run the vin through the DMV to get as much info as I can.
I ran a report on a used 2003 Expedition I was considering. It was very helpful. The report showed that the truck while in good condition was used as a rental in Florida. I Decided not buy the used one and bought a new one instead. I ran reports on three other vehicles that I saw on the used lot that "appeared" nice. They all showed things that I would say were crucial in my decision not to buy them.
Carfax is better than nothing, but it's not perfect. I ran a VIN through them on a car that had been in an accident, and had about $3,000 in damage. Carfax said no accidents. How do I know it had been in a wreck? It was my own car. Took a Taurus in trade this summer that Carfax said had been "in a collision with another motor vehicle." Customer gave us a copy of the repair bill from the body shop that did the repair; it was $250. Folks, that's a SCRATCH. But people wouldn't buy the car because Carfax said "it was wrecked."
The "$5,000 Waranty" is almost worthless. It's 10% of the value of the car, up to a maximum of $5,000, if something slips by Carfax. So, if you can prove they missed something on your $5,000 used car, they'll give you a check for......fifty bucks. Big deal. But like I said, better than nothing.
I used it to find out a 1995 Explorer I was going to buy had been through three states and the odometer had been clocked. I suspected the truck had a lot more than 120K on it and I was right.
Last time my wife and I went to used car lots we had a salesman brag about the high quality SUVs he had. "Not a single one is an auction vehicle!". We wrote down VINs and ran CarFax reports on them when we got back and every one them were auction vehicles!
Originally posted by 1956MarkII The "$5,000 Waranty" is almost worthless. It's 10% of the value of the car, up to a maximum of $5,000, if something slips by Carfax. So, if you can prove they missed something on your $5,000 used car, they'll give you a check for......fifty bucks. Big deal. But like I said, better than nothing.
Bought a rolled over 96 Ranger for a builder. Came with a out of state "SALVAGE" title. Being able to fix the truck myself it was a very good deal. Total of 5000 dollars into a book valued $12000 truck at that time. This truck is still owned by a family member. After rebuilding and running the title though the state, the title came back "clean". Should have had to at least had the truck state inspected, but no.
After all this Carfax shows nothing. Owners have been looking at trading in the truck, we have been telling the dealers its been wrecked. The dealers are running the Carfax and are not to concerned, clean Carfax.
I would not have any faith in the Carfax system. There's always one that slips though the cracks. Take the vehicle your interested in buying to someone you trust that "KNOWS" what to look for. I've done a lot of work on brand new vehicles, with less than 10 miles on them, transport or dealship damage, I wonder what the Carfax shows on these vehicles. Don't trust anyone when buying a vehicle new or used..... BUYER BEWARE
I ran a carfax on our car and it showed no major repairs, but I had the engine replaced due to flood damage. Don't you think that should have showed up?
Originally posted by alanscott Wouldn't that be five hundred bucks?
Oh, SURE, the Ultra-Conservative Zealots on this site expect me to be a mathematical GENIUS, on top of everything else!! Oh, wait- this isn't the Pig Pen, is it? Never mind.....
Really, you're absolutely right; sorry about that. Car salesman never were known for their arithmetic skills...
Bought my dream truck used....I had been looking for one just like it for at least 2 years. Dealership didn't know too much about it's history, though. I ran a carfax and found out that it's Canadian. Go figure. LOL
We ran Carfax and found out:
1) a truck we were considering was not registered for several years, the years were missing entirely.
2) Our Bronco was a local lease, and the owner bought out the lease at the end and kept it another 4 years.
3)My husband's truck had 100K more on it than the dealer who sold it to him had indicated. It wasn't rolled back, (doesn't have the 100K dial) but the title had been fudged to reflect lower miles.
Accident reports on Carfax can be avoided if a dealer or owner does the repairs and never reports it to an insurance company. If it's not reported, it won't come up.
In that case, the new engine we put in the gf's car should have come up, the insurance paid for it. I also thought it might not have had enough time so I checked later and it still wasn't there.